As a law firm owner, are you prepared for the inevitable exit from your practice? Whether retirement is on your immediate horizon or decades away, strategic exit planning is not a future consideration but a present imperative.
In this critical discussion, we delve into why planning your exit now is indispensable to maximize the value and profitability of your law firm.
On the latest episode of The Lawyer Millionaire Podcast, host Darren Wurz concludes a pivotal three-part series on retirement strategies for law firm owners.
Darren emphasizes that exit planning is an integral part of good business strategy, regardless of your age or retirement timeline. This episode underscores the necessity of contingency planning and the benefits of creating a transition-ready law firm.
Darren discusses:
The importance of succession planning, regardless of your age.
The three core areas of exit planning.
How making your law firm transition ready can increase its worth and profitability.
Practical steps you can apply to de-risk your firm, improve operational efficiency, and foster a culture of growth.
How to structure your retirement, safeguard your financial future, and find purposeful activities post-business life.
Have you ever wondered if you are financially prepared for retirement or if you’re just hoping for the best? As a law firm owner, the difference between financial freedom and endless work hours hinges on a crucial concept – your wealth gap.
In this solo episode of The Lawyer Millionaire Podcast, host Darren Wurz guides you through understanding and closing your wealth gap, specifically tailored for law firm owners.
Darren discusses:
The wealth gap and why it is critical for your financial strategy.
The importance of tracking your expenses to gauge your current standard of living.
How to differentiate between traditional retirement and financial freedom.
How to calculate your wealth gap.
The differences between your income gap and wealth gap and how to address each of them.
How to transform your law practice into a major financial asset.
In the digital age, LinkedIn isn’t just a networking platform; it’s a gateway to new opportunities and connections. Success on LinkedIn doesn’t come from simply having a profile; it comes from making the most of every pixel and feature. For ambitious law firm owners, optimizing LinkedIn can translate to business growth and professional acclaim.
In our latest episode of “The Lawyer Millionaire,” we bring you Marc Halpert, LinkedIn specialist and business growth guru, who shares his top strategies to elevate your LinkedIn presence in 2024.
Marc discusses:
Strategies for consistently creating high-quality posts on LinkedIn.
The critical components of an impeccable LinkedIn profile, from eye-catching visuals to a compelling “About” section.
Practical tips on crafting posts that inspire action, without over-relying on superficial engagement tactics like emojis.
How to create a compelling “About” section.
The nuances of using client and colleague reviews ethically on LinkedIn, and why it’s crucial for compliance.
How to create a powerful first impression that significantly attracts potential clients.
Marc W. Halpert is a self-described “multi-preneur.” Since leaving the corporate finance world in 2001, Marc has started 3 companies, all of which he still operates.
Two of those companies offer specialized, paperless electronic payment services to optimize cash flow of by speeding of payments, to:
retailers, small- and medium-sized businesses (Your Best Interest LLC)
nonprofit organizations, professional and membership groups (e-giving).
In 2010 he started his third company, connect2collaborate, to spread his LinkedIn and networking evangelism to train and coach others. In all his LinkedIn training and coaching, he offers professionals the opportunity to better explain their brand and positioning on their LinkedIn profile pages: who they really are and why them vs. the competition.
As a LinkedIn trainer, Marc has been recognized as a high-energy speaker at national and regional conferences and instructor to sales/marketing and HR/training departments at large and small professional service firms and businesses.
He is one of a handful of “evangelists” recognized by LinkedIn nationwide to train nonprofits to cultivate their talent pool, volunteer, board member and donor development opportunities.
His specialty in customized personal coaching has helped individuals in all walks of life and industries to use LinkedIn to better achieve their professional goals.
Marc has authored numerous articles on innovations using the latest LinkedIn techniques for self-branding in national publications, both in paper and online. He serves as a subject matter expert for the business, technology and social media press. He is a frequent contributor to inc.com and has been heard frequently on WCBS Newsradio 880 AM giving LinkedIn advice on their business reports. He blogs every business day with a LinkedIn Nugget.
In April 2021 the second edition of his book published by the American Bar Association “LinkedIn Marketing Techniques for Law and Professional Practices was released.
A perfect gift: “I wanted to let you know that my son was very happy to get your book on LinkedIn for attorneys for Christmas!”
In June 2018, he self-published the only book on the market specifically aimed at teaching LinkedIn concepts to nonprofit professionals, “You, Us, Them: LinkedIn Marketing Concepts for Nonprofit Professional Who Really Want to Make a Difference,” available on Amazon and Kindle. This book has an online course as a companion, available at https://connect2collaborate.wordpress.com/nonprofitcourse/.
Are you a law firm owner aiming to build a fortune that lasts generations? If so, our latest episode of The Lawyer Millionaire Podcast is a must-listen!
In Episode 65, Host Darren Wurz welcomes Bobby Sawyer, a seasoned estate planning attorney, to explore innovative strategies for securing generational wealth.
Together, they delve into innovative approaches to estate planning, including the novel concept of a subscription-based model designed to adapt to your evolving life circumstances.
Bobby discusses:
The essential documents involved in Estate planning.
The innovative Forever Estate Plan and its benefits.
Why you need to select a competent trustee.
How to safeguard your assets from increasing tax liabilities.
Key considerations for succession planning in law firms.
Essential estate planning tools for law firm owners.
Attorney Robert Sawyer, known as Bobby, is a highly skilled attorney focusing on estate planning, business law, and helping families continue their legacies. With experience representing individuals, companies, and local governments, Bobby is dedicated to providing comprehensive legal solutions to his clients.
Before embarking on his legal career, Bobby served in the United States Army Corps of Engineers, where he held the position of combat engineer platoon leader and executive officer. During his service Bobby was awarded the Bronze Star, Meritorious Service Medal, Army Commendation Medal, Army Achievement Medal.
Bobby graduated from Auburn University in 2001, obtaining a BS degree in Education. Following his military service, he pursued his passion for law and achieved remarkable success. Bobby graduated Summa Cum Laude from the Charlotte School of Law in 2011 and passed the North Carolina Bar Exam in August of the same year. Subsequently, he obtained admission to the South Carolina Bar in February 2012.
In 2015, Bobby established Sawyer Law, a law firm dedicated to providing exceptional legal counsel and services to clients. Recognizing the value of collaboration, he later co-founded Johannesmeyer & Sawyer, PLLC in June 2016, further expanding his legal expertise.
Outside of his professional pursuits, Bobby cherishes spending quality time with his family. He has his pilot’s license, loves to barbecue all sorts of meat and pork. He and his wife Katie, also an accomplished attorney serving as an Assistant District Attorney in Cleveland County, have been proud residents of Belmont, North Carolina since 2005. Together, they raise their three children.
With his diverse background, dedication, and commitment to his work, Bobby Sawyer is a trusted legal professional who continues to positively impact the lives of his clients and his community.
In the digital age, a strong online presence is essential for any law firm looking to grow and succeed. In our latest episode of The Lawyer Millionaire Podcast, hosts Darren Wurz and guest Ashley Robinson delve into powerful strategies that can help law firm owners elevate their digital footprint.
Ashley emphasized the significance of SEO and email marketing in consistently producing leads and gaining the trust of Google. She also covers the importance of developing a well-designed, mobile-friendly website that ranks high on search engines.
If you’re aiming to attract more clients and stand out in a saturated market, you won’t want to miss a single minute of this insightful discussion.
Ashley discusses:
Why SEO is indispensable for ranking well on Google and attracting a steady stream of clients to your website.
The importance of utilizing short-form videos and AI-driven content creation to adapt to evolving digital trends.
The importance of website optimization.
Find out why regular email marketing keeps you top of mind through the long buyer’s journey, especially for niches like family law.
How to measure effective KPIs—like conversion rates, contact form activity, and call tracking—to gauge your marketing success accurately.
Ashley Robinson is the founder and CEO of Green Cardigan Marketing, a digital marketing agency that focuses on helping law firm’s grow and achieve their financial goals through marketing strategies that work! Ashley’s journey to starting Green Cardigan Marketing first began with her love for golf; literally (keep reading and you will understand why)! Ashley played collegiate golf at Jacksonville State University where she earned her degree in Public Relations. After college Ashley began her career in marketing where she worked in account management in the automotive and cabinet industries.
In 2019 the opportunity presented itself for Ashley to begin her career in legal marketing. When she began working for lawyers as a side hustle, Ashley quickly realized the need for honest digital marketing services for law firms. As the side hustle grew, Ashley soon realized her passion and love for helping law firms grow through digital marketing. As the business grew, the brainstorming began for what to call the business. Drawing inspiration from her love for golf and the rich history and level of excellence behind the term “The Green Jacket”, the name “Green Cardigan” was born!
Since its inception, Green Cardigan Marketing has been hyper focused on helping law firm owners achieve their goals all while providing out of this world customer service. To date, Ashley and her team have worked with over 150 law firms across 37 states.
Are you a law firm owner pondering the future of your practice? Succession planning might be the key to securing the longevity and happiness of both you and your firm. In the latest episode of “The Lawyer Millionaire Podcast,” hosts Darren Wurz and David Ernst unravel the complexities of succession planning, offering you the wisdom and strategies needed to seamlessly transition leadership within your firm
David underscores the importance of transparent communication and the necessity of setting specific dates and goals for planning. He shares his personal journey, detailing the proactive measures he took to ensure a smooth transition for his successors, and provides invaluable advice on how to make succession planning a gratifying endeavor.
David discusses:
The significance of picking a specific date to start succession planning.
How to set clear goals for the succession planning process.
How transparent and open communication can eliminate the common pitfalls in succession planning.
Why senior lawyers should be compensated for planning and transferring their duties to successors.
The satisfaction that succession planning brings not only to senior lawyers but also to the rising stars within the firm.
How robust financial planning can empower your retirement and succession strategies to provide peace of mind.
David Ernst retired from law practice last fall after 37 years as a litigation attorney focusing on food safety. Dave worked at two firms over the course of his career, joining Davis Wright in 2011. Throughout his career, Dave served in many firm leadership and management roles.
This included office managing attorney, firm president (175 lawyer firm), the compensation committees of two firms, and the firmwide succession planning partner at Davis Wright. Dave has a particular interest and expertise in succession planning for lawyers and law firms.
He has worked with many lawyers over the years to develop thoughtful succession plans which ensure the continuation of client relationships and the development of younger lawyers.
If you are a solo or small firm attorney aiming to strategically expand your practice and enhance your revenue streams, this episode of The Lawyer Millionaire Podcast offers an in-depth look at optimizing your referral fee income.
In Episode 58, hosts Darren Wurz and guest Arya Firoozmand explore the sophisticated mechanisms behind maximizing referral fee revenue.
Arya, the CEO and co-founder of Overture Law, outlines how their meticulously designed platform facilitates seamless and profitable legal referrals.
Overture Law stands out by fostering trust and efficiency in the referral process. The platform bridges the gap in knowledge and trust through detailed peer reviews and client feedback, ensuring that referrals are handled with the utmost care and professionalism.
It also addresses significant industry challenges by managing the intricacies of billing and fee-sharing, thus allowing attorneys to focus on their core legal duties while benefiting financially from referrals.
Arya discusses:
How his company Overture law streamlines the referral process.
How to unlock new income via attorney referrals.
The importance of staying in touch with referral partners and positioning yourself as a general counsel for all your clients’ legal needs.
Overcoming common objections to giving referrals.
The future of attorney referrals and community building.
Arya Firoozmand is the CEO and co-founder of Overture Law, the first attorney-to-attorney platform designed for members to refer matters and ethically share in fees.
Are you tired of the traditional law firm model holding you back from true financial liberation?
In this eye-opening episode of The Lawyer Millionaire Podcast, we dive deep with Allen Rodriguez, a visionary legal product development strategist, who shares groundbreaking strategies to transform your law firm into a well-oiled machine, generating wealth while increasing access to justice. Discover Allen’s insider insights on marrying cutting-edge technology with savvy business practices to catapult your firm’s efficiency and profitability.
Allen discusses:
How a subscription-based legal service can transform your firm’s revenue stream, ensuring predictable cash flow and deepened client relationships
Discover the power of treating legal services as products and how to employ AI and software tools for commoditized legal tasks to optimize your firm’s efficiency.
Be inspired by Allen’s mission to solve the ‘4 billion people’s access to justice problem’ and how innovations in the legal sector can contribute to a more just world.
How to offer additional services to divorced clients.
Learn the importance of providing strategic value over administrative tasks and how to shift towards lucrative pricing models that reward high-impact work.
Allen Rodriguez is a national speaker, product development strategist and legal innovator who has been serving the legal industry for 19 years. Over the course of his career, Allen has built a reputation for creating innovative legal services products as well as developing highly effective law firm business models and marketing strategies. Allen is a valued speaker on the topics of legal services product development, design thinking in law and future of law issues. He has provided consulting and engineering services for such companies as McKinsey & Co., Fastcase, Gavelytics, LexisNexis, and Littler.
Prior to founding ONE400, Allen was the Director of Attorney Services at LegalZoom. While there, his work contributed to a substantial portion of overall revenue at the company and helped LegalZoom move from a provider of “do-it-yourself” legal services to a comprehensive legal solutions provider, incorporating attorney-fulfilled work across all U.S. jurisdictions. Allen’s immersion in the legal industry began running operations at the Los Angeles County Bar Association’s Lawyer Referral Service. While there, his marketing knowledge, operational developments, and leadership helped generate millions of dollars in revenue for the association.
Attention, law firm owners. Have you ever stopped to consider if your personal beliefs about money could be hindering your financial success?
In this solo episode of The Lawyer Millionaire Podcast, host Darren Wurz dives deep into the concept of money scripts and how they may be quietly dictating your financial destiny. Let’s uncover what money scripts are, how they affect you, and how changing them might transform your financial future.
Darren discusses:
The concept of money scripts and how deeply ingrained beliefs about money shape financial behaviors and attitudes, often without realization.
The potential personal and business effects of money scripts, including overspending, difficulty saving, and impacts on law firm financial management.
Common money scripts, such as “money is bad” and “more money will make things better,” and how they may be influencing financial decisions.
Practical strategies for reflecting on and analyzing personal money scripts, including techniques for identifying and discussing these beliefs with others.
The importance of seeking professional guidance from a financial planner or financial therapist to navigate the intricate journey of unearthing and reshaping money scripts effectively.
Are you a law firm owner looking to navigate the maze of taxation while maximizing your profits? This exciting episode of The Lawyer Millionaire Podcast promises to be your guiding star.
Our host Darren Wurz sits down with Jayden Doye, a mastermind in tax strategy who has carved out a niche in optimizing law firms’ tax situations. Jayden shares valuable insights into selecting the right market, implementing innovative cash management systems, and changing your business’s financial trajectory.
As a proponent of work-life balance, Jayden also dives deep into making your firm not only successful but also a source of personal fulfillment, allowing you to enjoy life’s luxuries like six vacations a year!
Doye discusses:
The benefits of incorporating a ‘profit first’ system to manage your cash better and ensure year-round readiness for tax obligations.
Strategies for ethical law firm owners to distinguish themselves in a competitive market.
Why he doesn’t work for people he doesn’t like.
The differences between a value first firm and a volume first firm.
How involving family members in your firm could be a masterstroke for tax deductions, retirement benefits, and instilling strong work ethics.
Practical tips on leveraging business conference attendance to grow your firm’s network, expand your knowledge base, and enjoy tax-deductible travel perks.
Jayden was not always the financial guru that he is today. Growing up in a household just shy of the federal poverty line in Prince George’s County, Maryland, he knew the importance of money management but didn’t have the tools to create the financial stability he so desperately craved. After graduating Towson University with a B.S in Accounting and incurring a large amount of debt, Jayden was determined to make a change.
With a little hard work, and A LOT of sacrifice, Jayden became independent, gained professional growth as an accountant at a small CPA firm in Atlanta, and became a Certified Public Accountant. Over the next years, he’s worked with clients in just about every industry — helping them not only expand their financial portfolios, but to create plans that ensure financial sustainability and minimize taxability.
As a CPA, Jayden’s goal is to help entrepreneurs like himself gain independence and create a unique action plan to bring more to their bottom line while paying less in taxes. Invest in yourself and start working with Jayden TODAY!
