Profit First for Lawyers

“If you implement what has been explained throughout this book, your law firm will definitely become more profitable. You will feel more confidence, and you will begin to experience the unique satisfaction that comes from being able to reliably put more of the revenue collected by your law firm into your own personal bank account.” – RJon Robins In this season finale, we come full circle with RJon’s bold promise from the conclusion of Profit First for Lawyers: no hedge words then, no hedge words now. The reality is that implementing Profit First for yourself or your business yields results that surpass expectations. Karli shares her own Profit First epiphany only a few months after starting her own Profit First account. The No-Nonsense Truth In a powerful clip from the book’s conclusion, RJon doesn’t mince words: He didn’t write the book to teach. He wrote the book to help you get results. Most law firm owners will read, nod, make notes, then search for an easier way. But what works isn’t what’s easy; it’s what’s different from what everyone else has agreed is “normal” Real Voices, Real Results Hear directly from law firm owners about what happened to their business, their mindset, and the benefit they have seen in their lives when they took their profits first. Rebecca Peters (Peters Law Firm): “Before we started (Profit First) the most we made was…$100,000. This is my one year anniversary and the firm just hit a $600,000 run rate.” Daniel De Paz (De Paz Law): “You come to find out you have plenty of money and you can make more money if you take your profits first.” Veronica Stachurski (Ward & Stachurski, PLLC): “..like the idea of 99% to %100 …at first it gave me a lot of anxiety and then it didn’t, because it’s really not that big of a difference.” John Benson (Penglase & Benson): “When you start off at 1% and realize just how small that is…once you see you can do it…you have your profit no matter what..so it works out well.” Devon Slovensky (Slovensky Divorce & Family Law): Profit First since 2018 – “I can’t imagine organizing my books any other way.” The Promise Stands RJon’s promise from Chapter 1 remains unchanged: Implement what’s in this book and your law firm WILL become more profitable. You WILL feel more confident. You WILL experience the unique satisfaction of putting more revenue into your personal bank account every month, every quarter, every year. As RJon’s rallying cry says, “TAYEASTUYA: (Take all your excuses and shove them up your ass). And then? Take your profit first. If these episodes have challenged and motivated you to take action toward a more profitable life, we’d love to hear about it. Connect and Engage: Send us your Profit First for Lawyers stores: podcast@profitfirstforlawyers.com Mentioned: Karli commits to Profit First episode Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First for Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“So there’s a mindset problem going on here. How the owners of law firms think about what they think about, the excuses they make, the excuses they accept, the unexamined stories that they accept as gospel.” – RJon Robins In this episode, we are joined by Erika Ferenczi, Director of Brand Promise at How To Manage Enterprises, to tackle the elephant in every law firm: the mindset blocks that keep lawyers from being profitable. With nearly two decades helping entrepreneurs grow their businesses, Erika reveals why so many brilliant lawyers struggle financially and shares jaw-dropping transformation stories. In The Studio In a clip from Chapter 4 of the Profit First for Lawyers book, RJon explains how law school creates a dangerous myth: that success will magically happen IF you are a good enough lawyer. Something he quickly debunks. Instead RJon suggests that it is how law firm owners think about what they think about in their business and lives that determines success. Why? Because at the core, success stems first from a profitable mindset. Key Takeaways Paying yourself first creates urgency that forces you out of your comfort zone Remove the shame and negative connotation around making money for your services Start the Profit First habit with any amount right off the top The best thing you can do for the world is to be successful When you win financially, everyone wins: your family, employees, clients, and your community NEW PODCAST ALERT: The Exponential Entrepreneur Erika announced the upcoming launch of The Exponential Entrepreneur podcast featuring lessons facilitated by RJon Robins, Alejandra Leibovich, Oscar Ferenczi, and Erika Ferenczi based on their Practical Profitable Mindset Program. Each week these four battle-tested entrepreneurs are sharing the mindset shifts every entrepreneur needs to experience exponential growth. Listeners are in for a treat as we share the trailer for this powerful new podcast. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First for Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“There are too many great lawyers with loads of potential, but not enough profits to invest in more consistent marketing and more professional sales systems. Too many of these great lawyers are frustrated and cannot live up to their full potential.” – RJon Robins In this episode we revisit the seven main parts of every successful law firm and explore what happens when one of these critical components falls out of alignment. RJon walks through five all-too-common nightmare scenarios that plague law firms. He dissects how great marketing with bad sales is as challenging as having great lawyers but lacking financial controls. The kicker? Profit First gives you the tools to solve most of these problems before they sink your firm. The Seven Main Parts Refresher We covered these seven parts in detail in season one. Click the link for each part to hear those episodes. Of course, these seven main parts can also be read in Chapter 5 beginning on page 32 in the Profit First for Lawyers book. Marketing Sales Production People Physical Plant Money and Metrics You/Owner’s Mindset When these parts are aligned, your business runs smoothly, grows faster, and you are able to live the life you want professionally, personally, and financially. When they are not? Welcome to the nightmare scenarios which can be found in Chapter 4 beginning on page 21 in the Profit First for Lawyers book. Five Nightmare Scenarios (And Why They’re Killing Your Profits) Great Marketing, Bad Sales Great Marketing and Sales, But Not Enough Staff Capacity Amazing Lawyers and Staff, But Bad Marketing Great Everything, But Poor Infrastructure Potential for Greatness, But No Financial Controls The Profit First Solution As RJon says: “Profit First solves most of these problems, or rather, implementing Profit First gives you the tools with which you can solve most of these problems.” Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Mentioned: Pop Quiz on pages 26 & 27 in the Profit First for Lawyers book Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First for Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

 ”Those of us who embrace Profit First as a way of life, we force ourselves to get creative with the money we have left over in the account for operating expenses.” – RJon Robins, author of Profit First for Lawyers In this episode, Joam Alisme shares why implementing Profit First was the right choice for his firm and why it’s time for fence-sitting law firm owners to take the leap. As RJon explains in the featured clip from the Profit First Summary chapter in the book (page 165), “We believe it’s better to make tough choices in business than to have to make tougher choices at home.” Joam’s story proves this point, by choosing to follow Profit First methodology, he has transformed his practice from a $60,000-a-year firm in 2020 to a firm that is approaching seven figures just five years later. The Five Foundational Accounts In the clip from the audiobook recording session, RJon explains how the Profit First methodology operates with five foundational bank accounts: Main Income Profits (starting with just 1%) Owner’s Salary Taxes Operating Expenses By separating revenue into these accounts, law firm owners naturally embrace financial portion control, just like Mike Michalowicz’s grandmother used to separate the family income into different envelopes for different purposes. From Scrambling to Systematic Joam shares how he went from scrambling to pay taxes to having a systematic approach with dedicated accounts. Starting with just 1% for profit, he gradually increased the percentage as the business grew. The results speak for themselves: travel to exotic locations, paid-off credit card debt, student loans nearly gone, and purchasing his first property – all while growing his law firm. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm, to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Connect directly with Joam Alisme: https://alismelaw.com Mentioned: Mike Michalowicz Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First for Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“ So people who believe in the doctrine of sacrifice encourage sacrifice and take pride in sacrifice for its own sake. I believe that profit is good. That profit comes from the exchange of something of a lower value to gain something else that is of a higher value.” – RJon Robins, author of Profit First for Lawyers The legal industry has a problem with glorifying suffering. In this final episode of our three-part series on escaping the doctrine of sacrifice, we flip the script on what sacrifice really means for law firm owners. In two compelling clips from the 2021 livestream that became the foundation of the Profit First for Lawyers book, RJon Robins shares key insights about profitable sacrifice. He challenges the belief that creating value requires endless suffering and shows how to make sacrifices that actually expand your life rather than diminish it. Key Takeaways: Reframe sacrifices as investments Stop calling self-neglect service Profit is evidence of mutual value, not greed Choose sacrifices that expand you and make your life bigger, not smaller Real profit benefits both parties In this episode, RJon reframes sacrifice through the lens of profit. This fundamental shift transforms how to understand sacrifice, from martyrdom to mutual profit, from suffering to strategic investment, from bleeding for your business to building a real business that works for you. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Link to Part 1 and Part 2 of Escaping the Doctrine of Sacrifice series Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First for Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“In addition to the typical financial statements… there are other key performance indicators and metrics that you’re going to want to keep track of on your dashboard so that you can look at a glance to see if everything’s working properly under the hood.” – RJon Robins, author of Profit First for Lawyer Inspect what you expect. That’s the mindset behind this episode. Law firm owner Josephia Rouse shares how transforming her approach to financial management helped her move from reactive to intentional. This episode features an audiobook clip from Chapter 5, Part 6: Money & Metrics, where RJon uses car gauges to illustrate why every profitable law firm needs a financial dashboard. By building systems, dashboards, and tracking daily metrics, Josephia has learned to read her firm’s ‘gauges’ bringing her financial clarity, control, and confidence. With the right people (bookkeeper, controller, and CFO) in place, she turned her firm into a well-designed business that supports her team, her clients, and her family’s goals. The result: a thriving 22-person law firm built not by accident, but by design. Key Takeaways Track your firm’s gauges daily: Like a car dashboard, your metrics reveal what’s running smoothly and what needs attention. Inspect what you expect: Systems and data only work when you review them consistently and act upon what they show you. Invest in the right people: Delegating to qualified professionals allows you to focus on your highest-value work. Choose to grow: True transformation starts with a decision to build, learn, and take ownership of your numbers. Build your stairs: Progress happens one spreadsheet, one system, one habit at a time. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Connect directly with Josephia Rouse: https://josephialaw.com Link to Ep. 19: The 7 Parts of Every Successful Law Firm – Part 6: Money & Metrics Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First for Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“Lawyers who are broke are not in a position to do much good… Not for their clients, their family, their community, least of all themselves.” – RJon Robins, author of Profit First for Lawyers In Part 2 of our series on Escaping the Doctrine of Sacrifice, we dive deep into the belief system itself. RJon further explores the idea that suffering somehow makes us good, working ourselves into the ground is noble, and that profit is something to be ashamed of. He references the philosophy from the How To Manage A Small Law Firm employee handbook that every team member reads it during onboarding. In a clip taken from the 2021 livestream which would eventually become the Profit First for Lawyers book, RJon challenges the legal industry’s celebration of sacrifice for its own sake. The true cost? It drains your resources, time, and capacity to serve. Instead, RJon offers a profitable alternative rooted in stewardship, not selfishness. Key Takeaways The Doctrine of Sacrifice celebrate giving up what you value for what you don’t value The legal industry encourages sacrifice in overt and implicit ways: The billable hour Pro bono awards for lawyers who can barely provide for their own families Censuring the word “profit” Being broke drains you of financial resources, time, mental energy, and the capacity to serve your clients well Profit isn’t selfish, it’s stewardship that ensures you’re resourced enough to serve at your highest level The Doctrine of Sacrifice is something most lawyers don’t even realize they’ve been influenced by it. But when you glorify struggle, burnout, and endless hours without measuring the value created, you are practicing sacrifice for its own sake, and that helps no one. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Link to Part 1 of Escaping the Doctrine of Sacrifice Coming up next week: Part 3 of Escaping the Doctrine of Sacrifice More information about The Doctrine of Sacrifice can be found at the end of Chapter 6 in the Profit First for Lawyers book Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“It depends on what you mean by profit. This answer will set you free, and as a result, this way of thinking will make your law firm far more profitable.” – RJon Robins, author of Profit First for Lawyers Defining Profit What does profit really mean to you? For estate planning attorney Ali Goff, the answer goes far beyond “revenue minus expenses.” In this episode, Ali shares how understanding total owner benefits (time freedom, lifestyle choices, and peace of mind) completely transformed how she runs her firm and designs her life. When faced with a difficult quarter, her commitment to taking distributions even when it felt uncomfortable, forced better decisions and ultimately led to breakthrough growth. Ali’s journey from dismissing Profit First to embracing it reveals why redefining profit is the key to building both a successful business and a meaningful life. Key Takeaways The business should fund the life you want to live High standards benefit your team, your clients, and your business Your definition of profit should align with your life goals, not just accounting principles Consistency in distributions matters more than the size of the distribution If you only take distributions when it’s comfortable, you’re not really doing Profit First Understanding what profit really means for your business and life changes everything about how you run your firm and measure success. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Connect with Ali Goff directly: www.gofflegal.com Mentioned: Mike Michalowicz – Profit First: More Than Just a Book episode Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“It is a sign of extreme entrepreneurial immaturity to discount or dismiss or ignore, or not even be aware that there’s some luck involved in your success.” – RJon Robins, author of Profit First for Lawyers Welcome to our three-part series on The Doctrine of Sacrifice. This is RJon’s personal crusade to free entrepreneurs, especially lawyers from the long-held belief that sacrifice is noble and that focusing on profit is somehow morally wrong. In this first episode we explore how understanding the role of luck can actually make you more profitable. In clips taken from a 2021 livestream, RJon shares a passage from the How To Manage A Small Law Firm internal employee handbook. Something that every team member reads during their onboarding process. This passage blends ideas from Ayn Rand, Eric Hoffer, and RJon’s own experience to explain why luck is essential for long term success. Key Takeaways: Success and failure both involve luck If you continue to make rational decisions and don’t quit, luck will eventually work in your favor Perpetual lack of success isn’t just bad luck, it’s often a pattern of poor decision making Understanding luck’s role frees you to take calculated risks without fear of “breaking” your success So, if you’ve been attributing your struggles entirely to bad luck or your success entirely to brilliance, this reframe changes everything about how you run your firm. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Coming up next week: Part 2 of Escaping the Doctrine of Sacrifice More information about The Doctrine of Sacrifice can be found at the end of Chapter 6 in the Profit First for Lawyers book Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“When we implement Profit First Accounting Principles in your law firm, we begin by deciding ahead of time what percentage of every dollar of revenue we’re going to scoop off the top and protect for you and your family.” – RJon Robins, author of Profit First for Lawyers In this episode, Profit First certified controller, Veronica Zambrano joins us to break down exactly how to implement Profit First in your law firm (even if you’re in a cash crunch). Using her ‘financial gym’ approach, Veronica shares the simple practical rollout plan she uses with How To Manage A Small Law Firm (HTM) members. Building your way from a 1% allocation to your target percentage of 15% is just like progressively lifting heavier weights at the gym. Veronica shares her favorite clip of RJon in the studio taken from the Chapter 8 audiobook recording of the Profit First for Lawyers book. Then it’s time for show and tell as she walks us through how Profit First works using the HTM Profit First Allocation Calculator tool she uses for law firm owners. (screenshots below) Veronica also addresses the fear that stops many law firm owners from starting Profit First and why waiting for the “right moment” is the wrong strategy. Over the years, she has seen the system work time and time again with law firm owners who were tired of their excuses and ready to take action to become profitable. Key Takeaways: The best time to start Profit First is when you make the decision, not when your firm is “profitable enough” Starting at just 1% makes a real difference without compromising your operations The system is flexible, reevaluate every quarter and adjust based on your businesses’s actual performance Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Mentioned: Profit First Assessment Calculator Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“While you may be a bold, independent thinker when it comes to the practice of law and in other areas of your life, there’s a very good chance that you’ve been thinking a lot like a lemming when it comes to the profitability of your law firm.” – RJon Robins, author of Profit First for Lawyers In this episode we revisit a crucial topic from season one that deserves a fresh look, especially if your accountant or bookkeeper has been pushing back against Profit First. For deeper insights, take a look at Chapter 8 from the Profit First for Lawyers book about why GAAP was not meant for you. In a clip pulled from the original 2021 livestream recording, RJon challenges the conventional wisdom of GAAP (Generally Accepted Accounting Principles). He explains why blindly following rules created in the 1930s by 18 accountants trying to appease Wall Street regulators may be preventing your law firm from reaching its full potential. The fact is, GAAP was not designed with your small law firm’s profitability in mind. Key Takeaways: GAAP was designed for publicly traded companies in the 1930s, not for small independently owned law firms GAAP solves problems you probably don’t have and uses criteria you may not share Your bookkeeper or accountant should not dictate how much profit you’re allowed to keep from your business If you’ve been accepting “that’s just the way it is” as an answer when it comes to your law firm’s finances, it’s time to challenge that thinking. The status quo was not designed for your success. Take Action: Schedule one hour this week to review your numbers and ask yourself: “What would happen if I decided today how much profit I was going to keep?” Take control of your financial system. Stop letting your bookkeeper or accountant dictate your profit. Design a system that puts you, your family, and your profit first. Read Chapter 8 of Profit First for Lawyers: RJon outlines the practical specifics of GAAP’s intended purpose and why you can choose to opt for a Profit First system instead. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: GAAP Was Not Meant For You episode: video | audio from Chapter 8 of the Profit First for Lawyers book Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“Everywhere you go, people are going to begin celebrating their gross revenue. And I don’t want you to let that mess with your head right? Because you need to understand total owner benefits.” – RJon Robins, author of Profit First for Lawyers In this episode, Michigan appellate attorney Liisa Speaker shared her seven-year journey with Profit First. Liisa reveals how she started at just 1% profit allocation in 2018 and then paid off law firm debt, tackled law school loans, funded major home improvements, and now uses her profit account to save for her daughters’ college education. She brings a clip from the studio recording of chapter 9 of the Profit First for Lawyers book where RJon explains why understanding Total Owner Benefits, not just gross revenue, is the key to measuring your firm’s true success. Key Takeaways Comparing profit margins between firms is misleading without understanding total owner benefits on both sides Start slow and let it grow. At least 1% is enough to make a difference over time and not enough to compromise your firm’s financials Set clear goals for your Profit First account. Know where your quarterly distributions are going Having systems in place takes away the fear of managing finances and allows you to see problems before they become crises Implement weekly cash flow forecasting. This helps you to see problems 3-6 weeks beforehand which allows you to course correct before they become real issues. If any of these takeaways resonate with you, it might be time to examine where your law firm stands when it comes to total owner benefits. The good news is that understanding what your numbers are telling you is a learnable skill with the right systems in place. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Connect directly with Liisa Speaker at www.speakerlaw.com or www.liisaspeaker.com Full Total Owner Benefits video from Chapter 9 Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“So I may wind up sacrificing some precious time with my family to solve that potential new client’s problem and still have no financial profit to show for it. This simple misalignment explains more problems in the legal industry than I can address in this small book.” – RJon Robins, author of Profit First for Lawyers In this episode, we dive into Chapter 6 of the Profit First for Lawyers book and explore a deceptively simple yet powerful concept: the definition of profit. RJon explains what a profitable exchange actually is and shares a personal story about the trade-offs he makes as a dad and business owner. More importantly, he reveals why lawyers without financial controls often sacrifice time with family while gaining no financial profit in return. This is a recipe for burnout that affects far too many law firm owners. Key Takeaways: Profit isn’t just about numbers on a spreadsheet, it’s about the value on both sides of every transaction Without a profit protection system, every client engagement becomes a gamble with your time and peace of mind The misalignment between effort and reward explains more problems in the legal industry than most realize If you wouldn’t work for free at someone else’s firm, you shouldn’t work for free in your own either If any of these takeaways resonate with you, it might be time to examine where your firm stands when it comes to profit. Without financial controls in place, you’re essentially gambling every time you take on a client, betting your time, energy, and family relationships without knowing if there will be anything left for you at the end. That’s not just exhausting, it’s unsustainable. The good news is that this misalignment is fixable with the right systems in place. Resource: Profit Leak Assessment: The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage: Related episode from Season 1 Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“So you’re meeting with your prospective new client… And they’re about to sign the engagement agreement, and you say, ‘Hold on a second. I need to share some information with you.‘ ‘Oh, what’s that?‘ ‘Well, you need to know that my law firm is not very profitable.’ “ – RJon Robins, author of Profit First for Lawyers This is part two of our series that challenges the belief that focusing on profit is selfish. If you’ve missed part one, “Why Profit Shouldn’t Be Optional”, pause here and listen to that episode first. In this episode, RJon takes his argument even further with a provocative thought experiment. What if you had to disclose your firm’s financial instability to every prospective client before they signed? He contrasts this uncomfortable scenario with the confidence and integrity that comes from running a truly profitable law firm. Key Takeaways: Understanding why financial transparency builds stronger client relationships Examining how financial struggles impact client service delivery Why Profit First allows you to authentically promise stability and complete focus to your clients How running a profitable firm creates a competitive advantage Recognizing that financial stability isn’t only about your paycheck, it’s also about the integrity of your client promises This episode demonstrates how Profit First enables law firms to focus on client needs with genuine confidence and integrity rather than their own business and personal financial survival. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage Mentioned: Part 1 of this series: Why Profit Shouldn’t Be Optional Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“It’s a practical impossibility to practice law well in an unprofitable law firm. Why? Because you need money to pay for things.” – RJon Robins, author of Profit First for Lawyers This is the first of a two-part series that challenges the belief among law firm owners, that focusing on profit is somehow selfish or unethical. If you’ve ever felt guilty about prioritizing your firm’s profitability, this episode will go a long way toward shifting your perspective on profit. RJon tackles the uncomfortable truth that running an unprofitable law firm doesn’t just make your life harder, it makes it impossible to serve your clients at your highest standards. Key Takeaways Personal financial stress directly impacts your ability to serve clients effectively There’s a disconnect between what your marketing promises and what can realistically be delivered when cash flow is unstable Financial stability is not about greed, it’s about professional responsibility This episode serves as a wake-up call that profitability is not an optional “nice to have”, it’s an ethical imperative for delivering the services your clients deserve. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“A much healthier approach. A much more rational approach is to begin by deciding what you want out of your business first… After all the business is supposed to be there to give you a better life too, isn’t it?” – RJon Robins, author of Profit First for Lawyers In this episode we hear about a common challenge among law firm owners: feast or famine finances. If this feels all too familiar then this episode is exactly what you need to hear because it is never too late to begin your Profit First journey. But don’t just take our word for it. Law firm owner, Sarah Phillips from Phillips Law in New Orleans, Louisiana joins us to talk about the transformational journey she and fellow law firm owner Bradley Phillips have been on since beginning to take their profits first. This husband-and-wife legal team’s transformation story proves that taking profits isn’t about greed, it’s about stability and treating your business like the asset it should be. RJon in the Studio Sarah brought her favorite clip from the Profit First for Lawyers book pages 166-167 where RJon discusses “The Primacy Effect” and how it impacts business profitability. He explains how profit must be baked into every transaction instead of being treated as an afterthought, which is the traditional approach to cash management. This mindset shift forces business owners to be creative and make tough decisions at work rather than at home. Key Takeaways Profit cannot be treated as an event, it must be treated as a habit It is not greed to pay yourself consistently, you deserve compensation just like any employee You don’t have to implement every aspect of Profit First all at once When your business cannot pay you, it is a red flag that something is broken and needs fixing The business model should work for you, not the other way around Get Started Now So how does someone actually get started with these concepts? Sarah’s advice for hesitant law firm owners is simple: start with baby steps. Begin by paying yourself first consistently and see how it changes your business mindset. Financial stability eases the mental load many business owners experience and allows more strategic and less emotional decision making when challenges aka “problem-tunities” arise. Sarah says they are now able to quickly identify what’s not working and come up with logical solutions since they started taking their profits first. Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage Connect with Sarah Phillips directly by visiting: www.nolacriminaldefense.com Mentioned in this episode: Mike Michalowicz episode – Profit First – More Than Just A Book Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“Remember, your bookkeeper is a bookkeeper, not a mindreader, and it is the height of entrepreneurial immaturity for a law firm owner to criticize a bookkeeper for not knowing what is nearly impossible for a bookkeeper to know without speaking to the owner of the business.” – RJon Robins, author of Profit First for Lawyers When law firm owners make these two critical choices, they wind up sabotaging their profitability: Nitpicking irrelevant bookkeeping details. Avoiding their bookkeeper altogether. Both choices are a strong indicator that you may be afraid of profit. Avoiding the bigger questions about your firm’s financial reality results in poor strategic decisions. As we’ve heard in previous episodes, numbers tell a story and your bookkeeper is specifically qualified to help you understand what the story means for your business. The solution is engaging maturely with the financial information needed to make profitable decisions. To follow along with RJon’s narration from segments of the Profit First for Lawyers book, go to Chapter 16 which begins on page 153. Key Takeaways: Nitpicking bookkeepers about pens vs. pencils while missing bigger financial issues may indicate profit avoidance Avoiding your bookkeeper leads to inaccurate financials and bad business decisions Schedule regular meetings with your financial professionals and actually show up (and come prepared) Ask what stories your numbers tell about your business, not whether expenses are perfectly categorized Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“The mindset of so many lawyers in the legal industry is that if I’m having law firm management problems, it must be that I’m just not a good enough lawyer, which of course is nonsense.” – RJon Robins, author of Profit First for Lawyers In this episode we are joined by Charlee Spilker, Profit First certified controller at How To Manage A Small Law Firm. She shares wisdom pulled from over 30 years in finance and accounting as well as her horse training experience and applies it to law firm profitability. RJon’s powerful clip reveals why many lawyers struggle with business management, while Charlee’s horse story provides a good example of how unconventional methods offer a solution for law firm owners (and horses) who are stuck. If this has been your struggle, then this episode is for you. Charlee’s approach to starting your law firm’s Profit First journey is simple: Make the decision to sign up to begin using Profit First accounting principles. Open the bank accounts you’ll need to implement Profit First. Start allocating funds to those accounts. The key is being willing to change what’s not working, even when conventional thinking says you should stick with what you know. As Charlee puts it, “What you did 10 years ago doesn’t work today, you’ve got to be ready to pivot.” Key Takeaways: The need to be “right” keeps lawyers stuck in unprofitable patterns Law school teaches law, not business management Move your feet before moving your mind – take action even when you’re not convinced You can’t cut your way to profit, you have to invest your way to profit Profit isn’t just about finances, it includes personal and professional satisfaction Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage Subscribe to the Profit First for Lawyers podcast Link to Xavier Martine’s episode Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

“These are lawyers who have the potential to have such a huge positive impact on the world, and instead they keep struggling because their law firm isn’t successful enough.” – RJon Robins, author of Profit First for Lawyers What do you want from your law firm and your life? Not what you need. Not what you will tolerate. What do you actually want? This episode will challenge you to think bigger as RJon exposes the “doctrine of sacrifice” which is the perverse pride lawyers take in suffering, working excessive hours, and bragging about how unprofitable their firms are. Through a powerful live-streamed early version of what eventually became the Profit First for Lawyers book, RJon explains why building what you want is actually easier than slogging through what you’ll merely tolerate. Key Takeaways: Your mindset matters more than how hard you work or where you went to law school Building a profitable law firm is easier (and more rewarding) than building an unprofitable law firm Unprofitable firms force you into decisions you’ll regret (like accepting problem clients) Lawyers often compete over who works more hours and has more accounts receivable RJon’s mission is to liberate entrepreneurial law firm owners from the doctrine of sacrifice so they can do more good in the world. When your firm isn’t profitable enough, it forces compromises that weigh you down. RJon challenges law firm owners to start building the profitable practice that delivers the life you actually want. Resource: Business Plan Bootcamp If you’re a lawyer with big dreams who is ready to build a profitable firm, How To Manage A Small Law Firm offers a 5-Week Business Plan Bootcamp that is a blueprint for the practice and life you want. Click the link to join the next intensely valuable session. Connect and Engage Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!

 ”While every law firm owner wants their law firm to be successful,  very few out of the tens of thousands of small law firm owners who I’ve met over the years have been able to articulate an objective definition for what it actually means, at least to them, for a law firm to be worthy of being called a successful business.” – RJon Robins, author of Profit First for Lawyers Most law firm owners want their firms to be successful, but very few can articulate what that actually means. This fundamental gap between desire, definition, and outcome is why so many lawyers struggle with profit-focused thinking. Profit First Works: Over Time and Across Practice Fields In this episode’s clip taken from Chapter 3, page 18, RJon highlights the mindset barriers that make lawyers resistant to business principles – barriers that estate planning attorney Morgen Bowers had to overcome herself. As a How To Manage A Small Law Firm member, she shares her unique Profit First journey spanning 9 years and two different practice fields. Morgen first discovered Profit First accounting principles back in 2016 and implemented it in her law firm in 2018. When Profit First for Lawyers was published in 2023, she experienced the enhanced lawyer-focused approach firsthand as a member of How To Manage A Small Law Firm. Having implemented both versions, Morgen can detail exactly what RJon’s enhancements add to the foundational material. Her successful transition from business law to estate planning while maintaining Profit First principles demonstrates how the methodology adapts across different legal specialties and business transitions. Key Takeaways: Law firm success requires an objective definition that includes financial profit as a core component You can both serve clients and own a profitable law firm With a service-focused psychology, lawyer entrepreneurs need different advice than general business advice Real success requires both real numbers and systematic implementation, not wishful thinking Consistency beats complexity, start with a simple implementation of 1% profit allocation Resource: Profit Leak Assessment The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it! Connect and Engage Connect with Morgen Bowers directly by visiting https://4cornerslegacylaw.com Subscribe to the Profit First for Lawyers podcast Mentioned: Bookkeeping That Does Not Suck Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!