In this episode of the NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz, we follow entrepreneurial lawyer Susan. Despite her dedication, Susan struggles to allocate her time effectively, feeling overwhelmed with a growing client base and lingering litigation cases. Through Ali Katz's coaching, Susan learns to transition her business model, prioritize time management, and adopt a recurring revenue strategy. Ali introduces tools like The Money Map to help Susan achieve clarity on her financial needs and align her daily decisions with her long-term goal of selling her practice in 10 years.
Key Takeaways:
Ali’s coaching session with Susan emphasizes the importance of intentional planning and disciplined time management. By implementing these strategies, Susan can move towards her goal of creating a sellable, sustainable law practice.
02:29 Susan describes feeling overwhelmed with increased consultations and clients, despite stopping litigation work for the past six months.
06:44 Ali shares her personal shift from handling private clients to building a saleable business, emphasizing the importance of focusing energy on creating systems and structures.
08:47 Ali highlights the importance of understanding the minimum financial needs during a business transition to ensure future growth and sustainability.
11:30 Ali outlines the importance of restructuring Susan’s calendar to ensure only necessary billable hours are scheduled, which can aid in better time management and future planning.
16:42 Ali talks about her challenges and decisions in letting go of private clients and personal events to focus on building her business, encouraging Susan to make similar tough choices.
