Latest / Wealthy Woman Lawyer Podcast, Helping you create a profitable, sustainable law firm you love / Episode 252 This One Shift Can Get You to $1M

Transcript

Episode 252 This One Shift Can Get You to $1M · Wealthy Woman Lawyer Podcast, Helping you create a profitable, sustainable law firm you love

• 0:00
  Davina: That shift is switching your mindset from being a doer to being a reviewer. One of the biggest mistakes I see women law firm owners make is they don't even know they're that they don't even know they're making is they create a system that sets them up to be a clog in the pipeline. They think they are delegating, but then they have to review everything before it goes out the door.
• 0:25
  Intro: Welcome to the Wealthy Woman Lawyer podcast. What if you could hang out with successful women lawyers? Ask them about growing their firms, managing resources like time, team, and systems, mastering money issues, and more. Then take an insight or 2 to help you build a wealth generating law firm. Each week, your host, Devina Frederick, takes an in-depth look at how to think like a CEO, attract clients who you love to serve and will pay you on time, and create a profitable, sustainable firm you love.
• 0:55
  Devina is founder and CEO of Wealthy Woman Lawyer, and her goal is to give you the information you need to scale your law firm business from 6 to 7 figures in gross annual revenue so you can fully fund and still have time to enjoy the lifestyle of your dreams. Now here's Devina.
• 1:14
  Davina: Hi, everyone. Welcome back to the Hinkie Memorial podcast. I'm your host, Devina Frederick. And today's I'll be presenting my most popular training, 3 critical strategies my women law firm owner clients deploy to build $1,000,000 plus law firms without overwork and overwhelm. And I want you to hop over to that because I think it's a powerful training that will cause you to have more than a few light bulb moments.
• 1:40
  It's not too late to register and attend. We start at 3 PM EST Daylight Saving Time today, June 6th, and I hope to see you there. So let's get into today's topic. The title of this is this one shift can get you to a $1,000,000. And I know right now you're probably thinking, Divina, you are crazy.
• 1:58
  There's no one thing I could do to scale my law firm to a $1,000,000. There are a million things I have to do to reach that goal. And I hear you if you are like most, most of my women law firm on our clients when they first started working with me or like me way back in the day when I started my own law firm business, you have a very long to do list that seems to grow faster than you could check things off of it. So don't get me wrong. I love a good to do list.
• 2:27
  I keep mine on a legal pad. It's a habit I learned from my dad who also loves a good list. He told me once he sometimes adds things to the list after he's done just so he can have the pleasure of crossing them off. And I hate to admit it, but I've done this myself. Crossing items off of a to do list can be feel very satisfied for people who measure our success and our productivity.
• 2:51
  I still use list, but the real shift came for me in my business when I began to change what I put on the list. 1st, I discovered that the problem was never, so much what I was that I wasn't doing enough. The problem was that I was doing too much. It wasn't until I began to question where f where whether everything on my list was weighted equally or whether some to dos were far more important than others that I began to look at my list differently. So you see, I had always been taught that my work value was in the amount of paper work I could produce in a day.
• 3:27
  I mean, I was a marketer and copywriter before I became a lawyer, so that got even worse and more true for me when I became a lawyer. But the reality is our value is not in what in our doing and our productivity. It is in what we know and what we could teach others to how to do to expand our law firm's capacity. So our value as business owners is different. It's not about what we do ourselves.
• 3:57
  A list is a record of how you plan to spend your time and what you cross off of it is a reflection and a record of how you are actually spending your time. If you're spending your days in the doing, you likely are not working in your zone of genius. In other words, there likely are many, many activities on your to do list that are not the highest and best use of your time. So you if you are a list lover like me, then I have 3 questions for you right now, and I want you to reflect on these. Is everything on your list of equal importance, or are some of the things on your list less important than others?
• 4:37
  Number 2, are you the best person to do everything on your list, or is there someone else who would be better suited to get the task done perhaps because they charge less than your hourly rate to get it done, or maybe because they're more skilled and have greater expertise and can get it done faster, more efficiently. Lately, I've been using this is a true confession. I've been using AI to get a lot of tasks done done. And, well, let me correct that. I've been instructing people on my team to use AI to get a lot of tasks done, and Yin has been amazing.
• 5:13
  Number 3, have you rewritten some of the items on your list at least 3 times each time you create a fresh list. This tells me that you're probably, have you have things on your list that you are not the best person to do, and those things need to be delegated. If everything on your list is not of equal importance, and it's not, if you are not the best person to do everything on your list and you're not, and if there are items you keep transferring over and over again, there are, I'm sure, then it's time we talk about your beloved list and the one shift you need to make that will get you to a $1,000,000 faster than anything else. That shift is switching your mindset from being a doer to being a reviewer. K?
• 6:00
  Shifting your mindset from being a doer to being a reviewer. But and listen to me carefully. The caveat is we will need to create a better system for reviewing so as not to become a clog in our workflow pipeline. One of the biggest mistakes I see women law firm owners make is they don't even know they are that they don't even know they're making is they create a system that sets them up to be a clog in the pipeline. They think they are delegating, but then they have to review everything before it goes out the door.
• 6:33
  Does that sound familiar? For example, are you the kind of law firm owner who must be copied on every email? Do you currently have a pile of folders on your desk filled with items for you to, quote, unquote, look over before they can go out? So I call this one grading papers. You have to grade the papers before they pass or fail.
• 6:56
  Are you still doing all your work on top of reviewing everyone else's work? If that sounds like you, then you really are limiting your law firm's ability to grow whether you mean to or not. The issue is not that you are bad at delegation. I wanna be clear about that. The issue is not you're bad at delegation.
• 7:16
  I think a lot of us think that that's the problem. The issue is we do not have the right system, one that keeps us from holding up the workflow and also frees up about 10 hours of our time a week. So if you wanna be less of a doer and more of a reviewer, a better reviewer, not just for a reviewer, a better reviewer, I want you to ask yourself these three questions. Number 1, where can I delegate authority as well as responsibility so that I can allow my employees to earn my trust by letting them showcase their abilities to do the job? So I'm delegating authority, not just responsibility.
• 7:56
  Number 2, rather than creating pay papers, which is a very ineffective way to give feedback because no one learns from this method. They just take your graded papers and they go make the changes by rote, so they don't really absorb and learn what it is that you're sharing with them. How can I mentor and teach my employees so their work improves over time and I have to spend fewer and fewer hours reviewing and I get to spend more time leading? So just a note on this, we don't have time to go into it today, but I teach the exact system you need to help you become a better delegator, a manager, and leader in your law firm business in the Wealth Women Lawyer League. So jump on that free training today if you want to know more.
• 8:41
  Lastly, the third question I want you to ask yourself is, am I making changes to a work product that is really sufficient to get the job done, but it's, quote, not the way I would write it, end quote. Not the way I would write it. I hope you've enjoyed this week's episode. I know it is short and sweet, but implementing this one change alone can have a powerful impact on your law firm's business. If it works for you, please let me know.
• 9:07
  You could DM me on my socials or you can reply to the email with this podcast, and let me know how it's working for you. Also, don't forget to sign up for my live training today at 3 PM Eastern Daylight Savings Time. It's called 3 critical strategies my women law firm owners deploy to build $1,000,000 plus law firms without overwork and overwhelm. It is one of my most popular trainings, which is why presenting it again. In it, I share more details of easy shifts you can begin making immediately to achieve your law firm growth goals, plus I share with you how to get access to my step by step law firm growth blueprint.
• 9:46
  So I'll be back next week with more great content and build it until then, I hope you have an excellent week.
• 9:52
  Intro: If you're ready to create more of what you truly desire in your business and your life, then you'll want to visit us at wealthy woman lawyer dot com to learn more about how we help our clients create wealth generating law firms with ease.