People Produce Profit

Do you get the money and then hire the person? Or do I hire the person to make the money? Choose the former. Hiring the person to make the money is not just going to support your economic needs in the present, it is also going to fuel the growth of your law firm if you adopt this method. See people as profit in your business and you will have a much better business because you will not be working more than you desire to work in your law firm, and you can have the best of both worlds regarding time and money.   In this episode we discuss: Considerations to get to a profit-producing plan around the people in your law firm. Increase the amount of that revenue by having a profit plan. The key strategy is hiring a person that is more experienced than you. Creating a certain level of value intrinsic in who you are to drive people to your law firm.   Allison Bio: Allison C. Williams, Esq., is the Founder and Owner of the Williams Law Group, LLC, with offices in Short Hills and Freehold, New Jersey. She is a Fellow of the American Academy of Matrimonial Lawyers, is Certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney, and is the first attorney in New Jersey to become Board-Certified by the National Board of Trial Advocacy in the field of Family Law. Ms. Williams is an accomplished businesswoman. In 2017, the Williams Law Group won the LawFirm500 award, ranking 14th of the fastest-growing law firms in the nation, as Ms. Williams grew the firm by 581% in three years. Ms. Williams won the Silver Stevie Award for Female Entrepreneur of the Year in 2017. In 2018, Ms. Williams was voted as NJBIZ’s Top 50 Women in Business and was designated one of the Top 25 Leading Women Entrepreneurs and Business Owners. In 2019, Ms. Williams won the Seminole 100 Award for founding one of the fastest-growing companies among graduates of Florida State University. In 2018, Ms. Williams created Law Firm Mentor, a business coaching service for lawyers. She helps solo and small law firm attorneys grow their business revenues, crush chaos in business and make more money. Through multi-day intensive business retreats, group and one-to-one coaching, and strategic planning sessions, Ms. Williams advises lawyers on all aspects of creating, sustaining, and scaling a law firm business – and specifically, she teaches them the core foundational principles of marketing, sales, personnel management, communications, and money management in law firms.   Contact Info: https://www.lawfirmmentor.net/speak-with-a-growth-strategist   My favorite excerpt from the episode: TIME: 00:07:38 (30 Seconds)  And the question became, how do I staff up when I'm only making, you know, a couple hundred thousand dollars? Not even. Right. I got to I still got to support myself. I still have to support my kids. I still have a lifestyle to maintain and people cost money. Right. That's the first thought that everyone has. People cost money. So I acquainted her with the people produce profit mindset. And the first thing that we did was come up with a profit plan for how she was going to be able to increase her income, not just her revenue, her income.