In an interview yesterday I was asked what was the one thing that made the difference in my career. What was it that helped me become successful.
Back then, I said, meaning back when I was starting out and I was broke as a joke and just wanted to pay my bills, marketing made the difference.
When I learned how to bring in more clients, and better clients, everything changed.
Later, when I was making lots of money but had no time for anything but work, the key to my success as a sole practitioner was getting comfortable with delegating. This is difficult for many lawyers because we are very uncomfortable relinquishing control. But I did it and it allowed me to work only 3 days a week.
My income, went up, too, because I had more time for marketing and to improve my office’s systems.
In more recent years, the “one thing” that has made a difference for me has been passive income. When money comes in no matter what you do, even if you don’t do anything, well, it doesn’t get better than that. This allowed me to retire from the practice of law and do things I’ve always wanted to do.
So here’s my advice. If you need more money right now, study marketing. Get good at it. Make it your focus. Find something that works well for you and go “all in”.
If you have money but no time, hire more employees (or outsource) and learn how to delegate.
I know it’s hard but it gets easier. When I ran my practice, I resolved to do “only that which only I could do”. To my pleasant surprise, I found that there was very little that only I could do.
Delegate as much as possible and use the free time for more marketing, to improve your office’s work flow, and to have a life.
And if you have reached the point where you’ve got a handle on the money and the time, start thinking about what comes next. You might never want to retire or move onto to something else, and that’s okay. But knowing that you have enough cash and investments or passive income to do so, is a very good thing.
Marketing is easier when you have a plan