In a landscape where the billable hour increasingly feels like a relic of the past, could there be a more efficient and lucrative way to run your law firm?
On this episode, guest Mathew Kerbis details the numerous advantages of shifting from the traditional billable hour to a subscription-based model. As the founder of “Subscription Attorney LLC,” he shares his experience in establishing this new paradigm, highlighting its financial benefits and operational efficiencies. Matthew explains how this model has enabled his firm to achieve predictable revenue streams, significantly lower operating costs, and enhanced client engagement.
Matthew discusses:
How he established his subscription model law firm with just $5,000 in the first year.
The importance of recurring revenue, which now constitutes about 60% of his firm’s income.
Effective strategies for targeting underserved and small business markets with affordable legal services.
How subscription pricing enhances transparency and client trust.
The critical role of technology in optimizing service delivery and efficiency in law firms.
Are you ready to take your law firm to the next level? In this engaging episode of The Lawyer Millionaire Podcast, host Darren Wurz dives into the crucial topic of business planning and its transformative impact on law firms.
A robust business plan is not just a document; it’s a strategic tool that directs your firm’s growth, enhances profitability, and ensures long-term stability. This discussion illuminates how a well-structured plan can potentially elevate your firm’s profits by 70%, securing a clearer, more prosperous path forward.
Darren discusses:
How to establish your core values.
Crafting a purpose statement that captures your firm’s essence.
How to identify and define your niche to outshine your competition.
How to set measurable milestones and track KPIs to ensure continuous growth
Enhancing sales efficiency while prioritizing client interests
Is your law firm’s growth stalled at the planning stage? It’s time to transform those strategic ideas into actionable steps. On this crucial episode of The Lawyer Millionaire Podcast, host Darren Wurz explore the fundamental necessity of relentless execution for law firm success.
Darren discusses:
The importance of vision.
The four critical elements of relentless execution.
How to ensure that all your team are on the same page and working towards common goals.
Why you need to establish a consistent execution rhythm.
How to create a culture of accountability.
Insights from the execution successes and failures of companies like Apple, Tesla and Kodak.
As a law firm owner, do you often feel trapped in the endless cycle of managing every single detail of your practice? If you’re constantly bogged down by daily operations, it’s time to learn the magic of delegation. Discover how you can transform your practice into a self-sufficient, thriving business in the latest episode of The Lawyer Millionaire Podcast.
Darren discusses:
The benefits of delegation.
A systematic approach to replacing yourself in your law firm that was inspired by Dan Martell’s book “Buyback Your Time”.
Common objections law firm owners have against delegation.
How to reframe your mindset for effective delegation.
Why law firm owners should consider hiring an administrative assistant,
How “standard operating procedures” (SOPs) can help law firm owners to maintain consistency and quality when it comes to delegating tasks.
As a law firm owner, the drive for expansion is undeniable. But rushing towards growth without establishing a solid foundation can lead to more harm than good. In the latest episode of The Lawyer Millionaire Podcast, host Darren Wurz outlines the critical steps necessary to ensure sustainable and effective business growth for your law firm.
Darren discusses:
How to Identify and mitigate against significant risks that could jeopardize your firm’s stability and growth.
The importance of creating a well-defined vision and mission to direct all your firm’s activities and decisions.
How law firms can boost operational efficiency by improving their workflows and processes.
Building a strong Second-in-command to eliminate owner dependency.
How to maximize the efficiency of money.
The importance of building a positive culture that keeps talents and retains clients.
Are you neglecting the core drivers of your law firm’s value? While day-to-day operations and revenue generation are important, the real key to sustainable growth lies in intangible assets. In the latest episode of The Lawyer Millionaire Podcast, join host Darren Wurz as he uncovers the four C’s of intangible capital that can transform your practice and set it on a path to long-term success and profitability.
Darren discusses:
The importance of investing in your team’s skills, knowledge, and experience.
How strong client relationships can lead to repeat business, positive referrals, and a steady influx of new clients.
How a strong reputation and network within the legal community can unlock new business opportunities and partnerships.
The importance of developing efficient systems, processes, and intellectual property for scalability and operational excellence.
How to leverage Human, Structural, Customer and Social Capital to skyrocket your firm’s success
Are you merely treading water with your law firm, or are you building a thriving asset that could multiply its value?
On this solo episode of The Lawyer Millionaire Podcast, host Darren Wurz unpacks the critical differences between lifestyle owners and value creators in the realm of law firm ownership.
A lifestyle owner is typically focused on generating a steady income and maintaining a comfortable work-life balance, often at the expense of growth and future value.
In contrast, a value creator is someone who builds their practice with the intention of increasing its market value, scalability, and long-term profitability, often leading to greater wealth and more significant retirement options.
Darren discusses:
The fundamental differences between a lifestyle owner and a value creators’ mindset.
Why you need a compelling vision to motivate your team and attract top talent.
How value creators can prepare for economic downturns and other potential risks.
Unique strategies to shift your mindset towards value creation.
How to setup your law firm up for long-term success.
As a law firm owner, are you prepared to secure the future of your practice? Transforming your life’s work into a legacy that stands the test of time is a complex, yet vital, endeavor. In this latest episode of The Lawyer Millionaire Podcast, host Darren Wurz provides a deep dive into exit planning—a critical business strategy that ensures the longevity and profitability of your firm.
Darren discusses:
The gloomy statistic that a majority of firms fail to sell and learn how proactive exit planning can safeguard your firm’s future.
How to formulate a compelling 10-year vision for your firm and break it down into actionable, quarterly objectives.
The critical attributes of a transition-ready law firm and understand why such firms are inherently more valuable and profitable
A unique three step value acceleration process of assessment, improvement, and decision-making to optimize your firm’s value.
The importance of documenting your processes and procedures
How integrating exit planning with best business practices can enhance your firm’s profitability and value.
Are you a law firm owner seeking to maximize your profitability and transform your business model? This episode of The Lawyer Millionaire Podcast is your gateway to innovative strategies and actionable insights that can drive your firm to new heights.
In our latest episode, host Darren Wurz engages in a compelling conversation with Gwen Griggs, the trailblazing founder of Advos Pro and Advos Legal.
Gwen discusses her revolutionary approach to law firm management and profitability, emphasizing the limitations of the traditional billable hour model and introducing her forward-thinking, deliverables-based pricing strategy.
Gwen discusses:
How to accurately predict project scope and handle changes effectively.
The drawbacks of the billable hour model and the benefits of transitioning to a deliverables-based approach.
The importance of investing upfront to ensure long-term profitability.
Essential tips on transitioning and automating repeatable tasks to enhance efficiency and client satisfaction.
The benefits of agile methodology and how they can be applied to legal services.
Gwen Griggs, co-founder of ADVOS legal and ADVOS Pro, has a background in Big Law and C-suite roles. In ADVOS legal, she and her partner built a new model, that – instead of hours – measures what matters to the client, team, and owner. (Click here for more about Gwen’s legal experience.) With ADVOS Pro’s training and systems, they help other firms break up with the outdated billable hour model and begin measuring their worth in expertise and results.
Gwen’s superpowers are big-picture vision and client experience. At ADVOS Pro, she is leveraging her powers to transform the legal industry, so it delivers an incredible, fulfilling experience for lawyers and their clients
Are you tired of relying on unpredictable referrals and expensive online advertising to grow your law firm? What if we told you there’s a better way to attract high-value clients consistently?
In this episode of The Lawyer Millionaire Podcast, we sit down with Brian Glass, an injury lawyer and co-founder of Great Legal Marketing, to uncover the secrets to building a thriving law firm through targeted, referral-based marketing.
Brian discusses:
How to attract high-value clients through targeted, referral-based marketing.
Strategies for maintaining open communication and transparency with referring professionals.
The power of polarizing marketing in attracting ideal clients and repelling those who don’t fit your criteria.
The significance of maintaining a social media presence for credibility and providing helpful information to potential clients
How to connect with clients on a personal level beyond just legal matters
Brian Glass is a partner and personal injury attorney at BenGlassLaw. His practice is limited to the representation of injured people against insurance companies and the people who hurt them. Insurance companies have endless sums of money to throw at the defense of these cases and he enjoys the David vs. Goliath challenge.
Brian grew up in Fairfax where he still lives with his wife and three sons. He attended Robinson Secondary School and James Madison University. After college, he attended law school at the College of William & Mary, where he was named a Benjamin Rush Scholar for excellence in Health Law & Policy.
Brian is licensed to practice in Virginia and Maryland. He is a member of the Fairfax Bar Association, the Virginia Bar Association, and the Virginia Trial Lawyers Association. He was recently named as one of the Top 40 Under 40 in Virginia by the National Trial Lawyers Association. He also holds the distinction of being designated as a Rising Star by SuperLawyers magazine each year from 2017 – 2023. This award recognizes only the top 2.5% of lawyers in the state.
In April 2022, a Fairfax County jury awarded more than $4M to Brian’s client following a head-on collision with a drunk driver, including an extra $1,000,000 in punitive damages. This was the sixth largest settlement in Virginia for 2022, and the punitive damages awarded were one of the largest for a drunk driving case in the history of Virginia. But more than these accolades, Brian is most proud of the reviews that the team receives from our clients.
Outside of the office, you can usually find him on a field somewhere coaching his son’s soccer or baseball teams, traveling, creating memories with his family, or seeing how far he can run. His proudest running moment is finishing the Umstead 100-mile race in a time of 23 hours, 18 minutes, 25 seconds. Afterwards, he immediately fell asleep.
Inside the mind of Brian Glass:
Favorite thing about your role: I get to find simple solutions to complex problems on a daily basis.
Favorite thing about working at BGL: The ‘lightbulb moments’ that occur when the team is collaborating to solve a problem and someone comes up with an idea that we hadn’t thought of yet.
Interesting fact about yourself: In high school, I had bleached blonde hair and played in a ska band.
Best vacation you’ve ever been on: Mediterranean Cruise for mine & my wife’s 10th wedding anniversary – we saw Rome, Venice, Croatia, Montenegro, and Greece.
First meal after getting rescued from an island: A burger and a cold beer.
Favorite movie or tv show? The Shawshank Redemption
