Tag: Entrepreneurship

5 Money Scripts That Could Be Sabotaging Your Financial Success (Ep. 48)

5 Money Scripts That Could Be Sabotaging Your Financial Success (Ep. 48)

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.


Resources:

Connect with Darren Wurz:

Minimizing Taxes and Maximizing Profits with Jayden Doye (Ep. 47)

Minimizing Taxes and Maximizing Profits with Jayden Doye (Ep. 47)

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.


Resources:

Connect with Darren Wurz:

Connect with Jayden Doye:

About our guest:

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!

Effective trial preparation strategies with Mike Alder (Ep. 44)

Effective trial preparation strategies with Mike Alder (Ep. 44)

Are you ready to elevate your legal career and financial future? Take a note from a lawyer who’s truly mastered it all.

On Episode 44 of The Lawyer Millionaire Podcast, we explore the profound techniques and financial acumen of Mike Alder, an esteemed trial attorney who has mastered the art of wealth-building within the legal profession.

Host Darren Wurz engages in a thought-provoking conversation with Alder, who shares his systematic approach to trial preparation, the significance of a positive mindset, and the delicate balance between financial success and giving back to the community. His story is one of resilience, innovation, and the relentless pursuit of excellence in every facet of law practice.

Alder discusses:

  • How to refine your trial preparation strategies to enhance your courtroom efficacy and create an optimal experience for jurors.
  • How a lawyer’s upbringing shapes their approach to the industry.
  • The impact of positive language and intentionality on success.
  • How to stay grounded irrespective of the level of success you have attained.
  • Why failure is a critical path of success and part of the journey.
  • How to use wealth for systemic change and philantrophy.

 


Resources:

Connect with Darren Wurz:

Connect with Mike Alder:

About our guest:

Michael Alder is recognized as one of the top trial attorneys in California and has recovered over $2.1 billion in verdicts & settlements.

Michael Alder is the owner and Senior Trial Attorney at AlderLaw, a leading Los Angeles firm that represents plaintiffs in personal injury and employment litigation cases. He is known as one of the top trial attorneys in California, an advocate for underdog clients, and a generous supporter of fellow trial attorneys, charitable causes, and community giving.

Mr. Alder vigorously pursues all cases on behalf of his clients who have suffered injustices and takes pride in being personally involved in every case his firm takes on. Along with his team of lawyers and staff, he consistently breaks records and earns the praise of the press with significant settlements and impressive verdicts including the City of Modesto v Dow Chemical $60 million total verdict. To date, his firm has recovered over $2.1 billion in verdicts and settlements for his clients.

Over his 29+ years in litigation, he has received numerous accolades. This includes being the youngest recipient ever of CAALA’s Trial Lawyer of the Year in 2004 (the nation’s largest association of plaintiff’s attorneys), winning the prestigious California State Bar Clay Award “California Attorney of the Year” for personal injury in 2014, named one of the Daily Journal’s 2012 Top 100 Lawyers in California and named a “Top 100 Southern California Super Lawyer” 13 consecutive years. Mr. Alder has also been a member of the American Board of Trial Advocates (ABOTA) since 2003 and currently serves on their Executive Committee.

A well-renowned speaker and published author on trial strategy, Mr. Alder has a long history of supporting other trial attorneys. He maintains a 9,000-deposition database and expert witness directory plus provides information, at no charge, to his colleagues. He is a devoted mentor to young lawyers and offers access to his archived depositions, as well as financial assistance with the establishment of the AlderLaw Warrior Fund program, networking opportunities, and free seminars.

Michael Alder is a strong believer in giving back. His involvement in the community includes being a founding member of the Los Angeles Trial Lawyers Charities (LATLC), a nonprofit public benefit corporation organized to improve the lives of those in need in Southern California. He served as LATLC’s President in 2017 and continues to serve on the Board. Mr. Alder is also a founder of the American Museum of Tort Law and a member of the Board of Trustees for the Inner City Law Center (ICLC), a pro bono skid row law firm dedicated to ending homelessness and advocating for veterans’ benefits. In 2020, Mr. Alder was awarded ICLC’s highest honor – the “Katherine Krause” award – for his pro bono trial work on behalf of victims of slumlords. In 2020, he joined the board of directors for the National Hispanic Media Coalition and the Metro Los Angeles YMCA.

Most recently, Mr. Alder and law partner/wife Gina Zapanta founded Z.A. gives, a non-profit formed in response to the COVID-19 crisis to aid food and education insecurities. The charity is funded by a percentage of profits earned through their law firms, AlderLaw and Z.A. Lawyers.

Since March 2020, Z.A. gives has donated more than $150,000 in food and support to local hospitals and restaurants. In all, over 25,000 people have been fed by Z.A. gives’ direct giving.

In his spare time, he enjoys traveling to the family’s Louisiana ranch, exercising, collecting knives, taking care of his chickens and goats, and entertaining family and friends. He has a teenage daughter and son, is a bonus Dad to Gina’s two daughters, and two baby boys.

Unlocking the Power of Delegation for Law Firm Success with Dan Warburton (Ep. 40)

Unlocking the Power of Delegation for Law Firm Success with Dan Warburton (Ep. 40)

Are you a law firm owner buried in administrative tasks, leaving little time for your true passion for practicing law? It’s time to change the narrative and steer your firm toward greater profits and personal freedom.

In today’s episode of The Lawyer Millionaire Podcast, Guest expert Dan Warburton, a seasoned leadership coach, joins host Darren Wurz to explore the critical importance of delegation as a strategic tool for the modern legal practitioner.

Dan’s transformative strategies, explores how proper delegation transcends merely offloading tasks but can serve as a pathway to elevating your firm’s profits and team morale.

Dan discusses:

  • Why no leader is ever a true leader without a loyal team.
  • Empowering staff to take responsibility.
  • The fastest way to break down team members loyalty.
  • The critical role of mentorship in reducing staff turnover and increasing profitability.
  • How to make clear requests without manipulating people or using scare tactics.


Resources:

Connect with Darren Wurz:

Connect with Dan Warburton:

About our guest:

Dan Warburton helps Law Firm Partners & CEOs increase their profit and reduce their workload

Dan Warburton a well travelled British entrepreneur is someone who has always had a great ambition to create, live and share an extraordinary lifestyle yet he spent a major part of his life dealing with sadness, anxiety and frustration.

The cause of his deep dissatisfaction was a feeling of not fitting in at school and college, failing to succeed in numerous business ventures and not being able to make his father proud. From his mid-twenties and throughout his thirties Dan became ever more determined to discover why he found himself to continually fail in creating even one satisfying business and so turned to self-reflection and development for the answer.

Initially, Warburton read hundreds of books about leadership and success all in an attempt to find that missing key to breaking through and begin succeeding as a business owner. He implemented what he learned from books such as The Monk Who Sold His Ferrari by Robin Sharma. Think and Grow Rich by Napoleon Hill, Losing My Virginity by Sir Richard Branson, The Way Of The Peaceful Warrior By Dan Milman and A New Earth By Eckhart Tolle, The 4 Hour Work Week By Timothy Ferris and The Richest Man in Babylon By George Clason.

Along with reading such literature Dan also spent time learning to meditate with Buddhist monks, he practised Thai Chi for years and was awarded a Thai Chi Master certificate, he also practised Yoga under great teachers in India and in the Himalayas. All of this was again to enhance his abilities in creating and living the greatest lifestyle an entrepreneur possibly can.

While reading and carrying out such practices Dan also completed nearly two-hundred courses in self-development that covered ontology (the study of being), leadership skills and self-transformation which is now his primary expertise.

Warburton gained great insights as to how he’d been subconsciously dominated by ways of thinking that no longer served him. These where totally life-transforming insights for Dan. After further years of studying self-transformation, Dan is now able clearly to guide others to implement the self-transformational methods that he’s discovered to have greatly elevated his lifestyle as an entrepreneur.

Dan now has numerous testimonials online from entrepreneurs stating that the quality of their life has dramatically elevated from receiving Dan’s coaching and thus he is now seen as the pioneer of transformational coaching and is often invited to speak at large events around the world about what transformation makes possible for those who truly want to succeed.

What makes Dan happier than anything is coaching entrepreneurs, seeing them impact humanity in a great way and in the process create and live their dream lifestyle.

From his own lives journey and from now having coached over one thousand entrepreneurs, in his books, the author Dan Warburton reveals his greatest insights about what it takes to succeed in an extraordinary way as an entrepreneur both in business and in dream lifestyle creation.

How to build an efficient, effective and profitable law firm with Mike Chastaine (Ep. 36)

How to build an efficient, effective and profitable law firm with Mike Chastaine (Ep. 36)

Are you a law firm owner languishing over unmet profit goals and overwhelmed with the business side of running your firm? Profits seem elusive, productivity is low, and happiness is just another dream.

Today, we have something that could be a game-changer for your practice. On Episode 36 of The Lawyer Millionaire Podcast, host Darren Wurz sits down with experienced attorney, consultant, and author Mike Chastaine to discuss the secrets of transforming your law firm into a profitable business.

Mike discusses the importance of having a financial plan, efficient bookkeeping systems and how to set rules for client and employee engagement.

Mike discusses:

  • How law firm owners can use the 80/20 rule to maximize their productivity.
  • Embracing the “profit first system” as a key to lasting success.
  • The importance of setting up effective intake systems and rules of engagement.
  • Creating a hiring strategy that ensures every legal employee amplifies your law firm’s profit.
  • The importance of financial readiness and why you need an emergency fund.


Resources:

Connect with Darren Wurz:

Connect with Mike Chastaine:

About our guest:

Mike Chastaine is an award-winning attorney, speaker and author. His career spans many decades and covers a wide range of experiences, both in and out of the court room. As a successful entrepreneur, nationally recognized trial lawyer and endurance athlete, he has a unique perspective for success that puts him in a unique position to help others.

 

  • Nationally Recognized criminal defense attorney for over 37 years
  • Founder of Chastaine Law – “Best Criminal Defense firm in Northern California in 2020 and 2021 by New World Reports
  • Legal Excellence Award for Literary distinction, LEA award and author of five books
  • Radio host of ‘Legal Ease’
  • Video blogger of 20 minutes with Mike
  • Entrepreneurial Attorney of the Year finalist in 2017 and 2018
  • Extreme Adventure Racer
  • National Ski Patroller Alumni
  • Harmonica and bass player
  • Husband, father and grandfather
How Law Firms Owners Can Attract, Nurture and Retain Top Talent With Scott Love (Ep. 31)

How Law Firms Owners Can Attract, Nurture and Retain Top Talent With Scott Love (Ep. 31)

Are you a law firm owner looking to build and nurture authentic relationships with your clients that can stand the test of time? Look no further! In this eye-opening episode of The Lawyer Millionaire Podcast, host Darren Wurtz sits down with Scott Love, an esteemed authority in legal recruiting and business development within the legal world.

Scott Love, our guest and legal recruiting expert explores strategies to identify rainmakers within your team, how to establish yourself as a thought leader and why leadership is often missing in big firms.

Scott discusses:

  • How law firms can improve their business development processes.
  • The importance of authenticity and sincerity in growing a client base.
  • How writing and publishing content regularly can enhance your credibility.
  • How to leverage platforms like LinkedIn to boost your law firm’s reputation.
  • The importance of finding your ideal niche.
  • Why successful people want to work with people that are real with them without being pushy


Resources:

Connect with Darren Wurz:

Connect with Scott Love:

 

About our guest:

Scott Love helps law firm partners mitigate risk and maximize opportunity when transitioning from one firm to another. He does this by understanding the nuance involved in high stakes negotiations, the algorithm required for an effective partner transition, and the delicate risks associated with complex career moves.

His street-smart savvy and extensive business acumen, coupled with over two-decades of unparalleled executive search experience, give an added element of security for partners who are considering a move to another firm.

Love is a prolific thought leader on the topics of rainmaking, recruiting, and leadership and has written over 250 articles on these subjects. He has been quoted in the Wall Street Journal, Forbes, Bloomberg, The American Lawyer, Above the Law, Law360, the Huffington Post, Business Insider, and dozens of business publications.  He is the author of three books:   Why They Follow:  How to Lead with Positive Influence, The Recruiter’s Adventure Book, and the coauthor of Rainmaker Confidential: How Top Professionals Make Smart Business Development Investments of Time, Treasure, and Talent.  Love is a popular speaker on business development topics at conferences and retreats and has keynoted at large legal recruiting conventions, sales meetings for legal recruiting firms, and nearly every trade association in the recruiting industry.

Love’s expertise is further evidenced by his work as an expert witness in the recruiting industry, including a successful jury trial related to legal recruiting, and expert witness opinions related to law firm partner compensation.

Love is a 1989 graduate of The United States Naval Academy in Annapolis, Maryland. While serving on active duty as a naval officer, he held a Top Secret security clearance, was third in command of a U S Navy ship as a Surface Warfare Officer, and later served as a leadership trainer and organizational development consultant at the world’s largest naval base.

When he is not recruiting, Love enjoys working as a professional watercolor artist, speaking at business meetings on sales and recruiting, writing books, golfing, mentoring DC youth for college through Capital Partners For Education, playing in poker tournaments and cash games, and spending time with his family.  He is also the host and producer of The Rainmaking Podcast, a top 3-percent show that gives rainmaking attorneys ideas on how to develop new business and build more meaningful client relationships.

Love is a board of directors member of the National Association of Legal Search Consultants, a member of the National Speakers Association, and is past president of two recruiting industry trade associations.  He is an advisory board member of Protect Our Defenders, an advocacy group that supports active duty military service members who are victims of sexual abuse, assault, and harassment.

Love lives in Midlothian, Virginia, and is married with two children, a rescue dog named Ruby, and two rescue cats named Marbles and Prince.

 

Charity Involvement, Social and Business Clubs and Memberships:

– Protect Our Defenders, Advisory Board Member

– The Episcopal Parish of the Redeemer, Midlothian, VA; Member of Stewardship and Outreach Committees

– The Army Navy Club, Washington, DC

– Salisbury Country Club, Midlothian, VA

– The Cliffs at Walnut Cove, Asheville, NC

– The National Association of Legal Search Consultants; board member and host of “Recruiter Stories”, the official podcast of NALSC

– The National Association of Law Placement

– The National Speakers Association

Succession Planning for Law Firm Owners Series, Part 3 – How To Sell Your Law Practice with Tom Lenfestey (Ep. 22)

Succession Planning for Law Firm Owners Series, Part 3 – How To Sell Your Law Practice with Tom Lenfestey (Ep. 22)

Owners of law firms often face unique challenges as they transition out of their practices.

Whether due to retirement, a career change, or other reasons, the decision to sell your firm requires careful consideration and guidance. 

In part three of the Succession Planning for Law Firm Owners mini-series, Darren Wurz sits down with Tom Lenfestey, Founder of The Law Practice Exchange, LLC. Tom shares his journey from being a practicing attorney to founding The Law Practice Exchange, a company that provides services for selling or buying a law practice through an internal transition or in the marketplace.

Tom discusses:

  • How his company identifies good matches between buyers and sellers
  • The challenges in selling and buying a law firm
  • The importance of personal and operational readiness when considering growth through acquisition
  • The types of buyers interested in acquiring law firms
  • The trends in non-attorney ownership and private equity in the legal industry
  • And more!

Resources:

Connect with Darren Wurz:

 

Connect with Tom Lenfestey: 

About our guest:

Tom Lenfestey is the Founder of The Law Practice Exchange, LLC as well as a practicing North Carolina attorney, licensed CPA and Accredited Business Intermediary. Tom founded The Law Practice Exchange in 2013 to fill a void in the legal profession by creating a platform and service model to help lawyers sell their law practices and create continuation and succession plans for when they were ready to exit.

Tom spends much of his time as a frequent speaker on law firm valuation, the buying and selling of law firms, law firm mergers and lawyer succession planning as a regular guest speaker at legal associations, CLEs, podcasts and others. Tom also is a frequent author for legal articles and publications and has authored the book Designing a Succession Plan for Your Law Practice with LPE team member Camille Stell. Tom was appointed and served on the Transitioning Lawyers Commission and Professional Vitality Committee with the North Carolina Bar Association and serves as advisor and contributor to legal insurers, law firm lending institutions and others in regards to the law firm buying/selling/succession marketplace.

Tom is a NC State Wolfpack fan and a past Michigander (who still believes in the Lions). However, his true passion in life is his family, including his wife and two young boys, coastal living and their travel adventures.