Tag: Money Management

FEATURE
Insider’s Tips on Growing Your Criminal Defense Practice with Jay Ruane (Ep. 68)

Insider’s Tips on Growing Your Criminal Defense Practice with Jay Ruane (Ep. 68)

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As a law firm owner, you are all too familiar with the complexities of balancing financial stability and business growth.

On this episode of the The Lawyer Millionaire Podcast, Host Darren Wurz is joined by guest Jay Ruane as they engage in an important conversation on effective financial planning, building strategic systems, and business optimization tailored specifically for criminal defense law firms.

Jay discusses:

  • How to mitigate decision fatigue by creating structured systems to ease decision making on a daily basis.
  • Why he focused his niche on criminal defense law and its benefits.
  • How to successfully migrate from working on your own to building a team.
  • Key strategies law firm owners need to adopt to ease tax planning.
  • How to create an effective onboarding process and training programs for employees.
  • How he overcome cash flow challenges and built a robust law firm.

 


Resources:

 

Connect with Jay Ruane:

About our guest:

Attorney Jay Ruane was admitted into practice in October 1998 and has become recognized nationally as Connecticut’s premiere DUI Defense attorney.

Attorney Ruane started his career as a public defender in Bridgeport, Connecticut, where he was assigned a complicated docket of 100’s of pending DUI cases. As he developed his skills as a public defender, he realized that the complexity of these cases suited his nature and disposition.

In early 2000, he joined his father, who was then a partner in the Bridgeport firm of Gaston & Ruane, to devote himself fulltime to the aggressive defense of drunk driving charges. The two opened Ruane Attorneys, a criminal defense law firm primarily working with DUI defense. Since then, Ruane Attorneys has grown to be the largest criminal defense firm in the state of Connecticut, thanks to Jay and his father’s leadership, as well as the efforts of the associates, paralegals, and marketing team at the firm.

Since beginning Ruane Attorneys, Attorney Jay has gone on to lecture law students, other attorneys, and judges on the intricacies of DUI defense. He devotes a minimum of 40 hours yearly to continuing DUI defense education, and in November 2001 completed the rigorous NHTSA Standardized Field Sobriety Testing course of study.

He has also been certified as an operator and maintenance technician on the Intoxilyzer 5000. He has been recognized as an expert in DUI Defense, field testing and breath testing in both administrative hearings before the Connecticut DMV and in Habeas proceedings. His latest efforts in helping clients and colleagues has come in the form of several books that he has worked on and published in the past few years.

He has argued or briefed many of the seminal DUI cases to Connecticut’s Appeal’s courts, including State v. Pjura, State v. Kelley, State v. Pilotti, and State v. Hood.

Jay is the Connecticut State Delegate to the National College of DUI Defense, and members of several lawyer organizations, including the DUI Defense Lawyer’s Association (DUIDLA) and the Connecticut Criminal Defense Lawyer’s Association (CCDLA).

For more information regarding Jay, you can contact him through his website, RuaneAttorneys.com.

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FEATURE
Secrets for LinkedIn Success in 2024 for Lawyers (Ep. 67)

Secrets for LinkedIn Success in 2024 for Lawyers (Ep. 67)

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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.

 


Resources:

 

Connect with Marc Halpert:

About our guest:

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/.

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FEATURE
How to Scale Your Law Firm From 6 to 7 Figures (Ep. 66)

How to Scale Your Law Firm From 6 to 7 Figures (Ep. 66)

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The legal profession demands not just expertise but strategic acumen to navigate the journey from a six-figure practice to a seven-figure powerhouse. In Episode 66 of The Lawyer Millionaire Podcast, we have the privilege of hosting Davina Frederick, a seasoned attorney, author, and founder of “Wealthy Woman Lawyer.”

Her impressive trajectory from a career in marketing to owning and scaling successful law practices offers a wealth of insights for law firm owners poised for growth.

In this episode, Davina Frederick delves into the intricacies of scaling a law firm, offering a candid look at her path to success—from initiating a law firm during the foreclosure crisis to running a virtual practice focused on sustainable growth.

Her experience underscores the necessity of building a proficient team, implementing effective systems, and mastering financial management to achieve seven-figure results. Guided by our host Darren Wurz, the discussion translates these experiences into actionable strategies for our audience.

Davina discusses:

  • The importance of focusing on one big idea for monumental success.
  • How to transition from a doer to a leader and team cultivator.
  • How high-flying women can balance work and life as law firm owners.
  • How hiring, training, and retaining lawyers can transform your business.
  • The role of robust systems in streamlining operations and driving growth.
  • How to overcome common pitfalls like money management fears and perfectionism.


Resources:

 

Connect with Davina Frederick:

 

 

About our guest:

Davina Frederick is a Florida-licensed attorney, law firm growth strategist, and business coach for women law firm owners. Prior to starting her own law firm in 2007 and growing it successfully during the 2008 recession and its aftermath, she enjoyed a career as a professional services marketer.

In 2013, she founded D. Frederick Media and Marketing, LLC, with the goal of helping professional service business owners implement their marketing strategies.

However, she quickly discovered that most did not even have a strategy! It was then she began to work with her clients to develop strategic growth plans for their businesses and to coach them through the implementation of these plans, including how to market and sell, cultivate A+ teams, and set-up systems-driven businesses.

Since most of Davina’s clients were women law firm owners who wanted the inside-scoop on how Davina had successfully created and scaled her own law firm, she began to focus on serving just women law firm owner clients. In 2020, Davina rebranded her company to reflect this shift, creating Wealthy Woman Lawyer.®

Wealthy Woman Lawyer® assists women law firm owners in scaling their law firms into $1M+ wealth-generating businesses, without overwork or overwhelm.

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FEATURE
Master Your Firm’s Cash Flow with Accounting Best Practices (Ep. 63)

Master Your Firm’s Cash Flow with Accounting Best Practices (Ep. 63)

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Are you a law firm owner grappling with your firm’s financial planning and cash flow management? If so, this episode of The Lawyer Millionaire Podcast is tailor-made for you! In our latest episode, Darren Wurz sits down with Rachel Blackburn, an experienced CFO consultant, to discuss critical accounting practices that can transform your firm’s financial health.

Rachel discusses:

  • The significance of starting the year with strong financial processes and goal alignment
  • How consistent and accurate bookkeeping can prevent costly mistakes and ensure timely financial reporting.
  • How to streamline billing processes and reduce clerical errors with tools like Quickbooks.
  • The importance of proactive communication with CPAs for better tax planning and financial management.
  • The benefits of a fractional CFO for law firm owners.
  • Why you must do today’s work today when it comes to accounting?

 

Resources:

 

Connect with Rachel Blackburn:

About our guest:

Rachel Blackburn is a proven business leader with over 15 years of experience in developing and leading executive-level engagements, as well as building and managing high-functioning teams and practices.

Rachel possesses a deeply rooted passion for understanding the needs of business owners and identifying optimal strategies to support their goals in an ever-changing marketplace. Before joining TP4 Advisors, Rachel held senior management positions at Cincinnati-based companies, including TRAK Group and Titan Chair.

As the Business Development Executive, Rachel leads the organization in engaging with potential clients to understand how TP4 Advisors can best support their needs and develop financial foundations for sustainable business growth.

Outside of work, Rachel enjoys outdoor activities, reading, biking, traveling, bonfires, and spending time with her husband and daughter.

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FEATURE
Becoming a No A/R Law Firm and Effective Case Workflow (Ep. 61)

Becoming a No A/R Law Firm and Effective Case Workflow (Ep. 61)

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Are you a law firm owner struggling to manage billing cycles and case workflows efficiently? You’re not alone. In Episode 61 of The Lawyer Millionaire Podcast, Darren Wurz and guest Randa Prendergast dive deep into practical solutions for transforming your firm into a no Accounts Receivable (A/R) powerhouse.

Randa explores the future of AI in legal work and discuss strategies for effective task delegation.

This episode is packed with actionable advice that will help you streamline your processes, improve client communication, and ultimately, boost your firm’s profitability.

Randa discusses:

  • The pros and cons of Clio, Lawmatix, and other case management systems for better case workflow and billing capabilities.
  • How AI can revolutionize case workflow and billing tasks, making your firm more efficient.
  • The art of delegation with actionable tips, ensuring detailed instructions, regular progress monitoring, and initial support for team members.
  • How setting efficient task management systems can free up your time and increase profitability.
  • How to implement smaller, more frequent billing cycles and manage retainer-based billing to create a no A/R law firm.

 

 


Resources:

 

Connect with Randa Prandergast:

 

About our guest:

Randa Prendergast is an experienced Paralegal, Intake Specialist, and Task List Developer Extraordinaire. She has a legal background working with boutique law firms, solo practitioners, and virtual settings. She maintains excellent client and business relations skills with well-versed office and project management experience. She offers professional support, paralegal services, and guidance while you grow your firm and/or take your firm virtual!

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FEATURE
How to Maximize Referral Fee Revenue (Ep. 58)

How to Maximize Referral Fee Revenue (Ep. 58)

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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.


Resources:

 

Connect with Arya Firoozmand:

 

About our guest:

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.

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FEATURE
Achieving True Wealth with Rho Thomas (Ep. 57)

Achieving True Wealth with Rho Thomas (Ep. 57)

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In today’s high-stakes legal world, finding the time and energy to manage your finances can feel overwhelming. But what if reclaiming control over your money could grant you the freedom and flexibility you’ve always dreamed of?

In this episode of The Lawyer Millionaire Podcast, host Darren Wurz sits down with financial counselor Rho Thomas to explore actionable insights designed to help law firm owners like you achieve true wealth.

Rho discusses:

  • The art of proactive budgeting.
  • How she overcame her student loan debts.
  • The inherent dangers of the good debt vs bad debt dichotomy.
  • How inflation influences the cost of living.
  • Why it is important to celebrate little victories.
  • How to balance financial health with quality of life


Resources:

 

Connect with Rho Thomas:

About our guest:

Rho Thomas is a former Biglaw associate who knows what it’s like to make a lot of money and still feel broke.

She also knows what it’s like to want to make a change in your life and feel constrained by your financial situation.

Her mission is to help you master your money so you can create freedom and choice in your life.

She helps lawyers master their personal finances to create freedom and choice in their lives.

She also hosts the Wealthyesque podcast where she shares strategies each week for lawyers to improve their money mindset and manage their money to achieve true wealth

Time is our most limited resource. Money is a tool you can use to literally buy back your time.

She can teach you how to manage your mindset and money to improve your finances and start building wealth. Let’s talk about how we can work together.

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FEATURE
How We Serve Law Firm Owners as Chief Wealth Counsel (Ep. 52)

How We Serve Law Firm Owners as Chief Wealth Counsel (Ep. 52)

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Are you a law firm owner tirelessly chiseling away at the bedrock of your practice, feeling the weight of financial complexity bearing down on you?

On this episode of The Lawyer Millionaire Podcast, host Darren Wurz explores the rugged terrain of wealth management and business expansion, Darren breaks down how meticulous financial planning is not just a service, but a transformative experience for your practice and personal prosperity.

Darren exposes the reality that many law firm owners face – a landscape riddled with financial convolutions and missed opportunities.

Darren provides a powerful in-depth analysis of how his role as a Chief Wealth Counsel can provide clarity and growth to both your personal finances and business endeavors.

Darren discusses:

  • The importance of demystifying your financial positions, both personal and business, to make informed decisions for your future.
  • How to utilize passive income streams that allow you to earn you while you sleep and diversify your earnings beyond billable hours.
  • Proactive tax planning and cash flow optimization to ensure every dollar is working its hardest for you.
  • How to transcend the traditional plateau of law practice growth, and build a roadmap toward selling your firm as a significant wealth asset.
  • The distinctive financial planning model Wurz financial services adopts, which contrasts sharply with generic advisors and offers a flat, transparent fee structure.

 

Resources:

 

Connect with Darren Wurz:

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Innovate to Thrive: New Models in Legal Business with Allen Rodriguez (Ep. 51)

Innovate to Thrive: New Models in Legal Business with Allen Rodriguez (Ep. 51)

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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.


Resources:

Connect with Darren Wurz:

Connect with Allen Rodriguez:

About our guest:

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.

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Mastering Profit First: Transform Your Law Firm with RJon Robins (Ep. 50)

Mastering Profit First: Transform Your Law Firm with RJon Robins (Ep. 50)

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In the competitive world of law, success is not solely measured by case wins, but also by the financial strength and stability of your practice. The latest episode of The Lawyer Millionaire Podcast offers a rigorous exploration of the tenets of financial acumen in the legal profession.

Host Darren Wurz engages with esteemed guest RJon Robins in a deep dive into the critical application of the “profit first” approach and the moral obligations law firm owners face in maintaining financial probity. With a focus on stability, sustainability, and ethical practice, this episode presents an analysis of financial strategies that align with the core values of justice and service inherent to the legal profession. Listeners will gain a wider understanding of the fiscal prudence required to navigate the future of law with confidence and clarity.

RJon discusses:

  • How the “profit first” system can revolutionize the financial health of your law firm.
  • Strategies for dealing with resistance from staff when implementing new financial systems.
  • The psychological and ethical implications of running a profitable practice for both clients and law firm teams.
  • How to stop the money leaks and transform your law firm finances today
  • The important truths most broke lawyers don’t like to hear
  • The essential financial tools included in his bonus package — bookkeeper assessment template, financial quiz, and more


Resources:

Connect with Darren Wurz:

Connect with RJon Robins:

About our guest:

RJon Robins is the one common denominator behind more multi-million-dollar law firms than anyone else on the planet. RJon believes in profit, and he detests loss.

Since he first reported for duty as a Small Law Firm Management Advisor with The Florida Bar’s Law Office Management Assistance Service (LOMAS) under the legendary J.R. Phelps (1999) and since founding How To Manage A Small Law Firm (2009) RJon and his team of wildly qualified law firm business management advisors have coached, counseled, advised, and kicked the butts of thousands of wildly successful small law firm owners. Yes, we know we used the word “wildly” twice in that sentence – what How to Manage a Small Law Firm does is that good.

The only three things that piss RJon off are:

  1. The Doctrine of Sacrifice
  2. People who would have you embrace The Doctrine of Sacrifice
  3. The BS those people often spew to try and convince you, as an entrepreneur that you should somehow take pride in how much you suffer but apologize for how much value you create for yourself and others.

Oh, and in case you’re impressed by this sort of thing RJon is a Member of The Florida Bar, he’s authorized to appear before The Southern District Federal Court, he’s a Member of The Association of Certified Fraud Examiners, his company How To Manage A Small Law Firm has been named by Inc Magazine as one of the 5000 Fastest Growing Privately Held Companies in the United States every year since 2015 and after 15 years of marriage his wife still thinks he’s funny.

Why Did RJon Write Profit First for Lawyers?

After working with thousands of law firm entrepreneurs for many years, RJon wanted to write a book dedicated to business owners who are committed to growing their law firm and living a better life. RJon has seen first-hand how “conventional wisdom” has led many entrepreneurs astray and wanted to share what he knows will help them turn their businesses around.

If entrepreneurs implement what’s explained in the book, their law firms WILL become more profitable and they WILL feel more satisfied.

But this book will probably piss them off too.

Why? Because when they discover the culprits who have been keeping them separated from their profits… It will probably piss them off. One day they will wake up and be pretty pissed about all the bad advice they’ve been given.

Ready to Take the Next Step?

If you are ready to take the next step and experience even MORE personal and professional growth, then you may be ready to become a member of How to Manage a Small Law Firm.

If you already know an HTM Member, GOOD. Now you need the courage to begin your journey “through the looking glass.”

Don’t know an HTM Member?

Several of our Members volunteer each quarter to “pay it forward” and have a conversation with potential new members about what it’s really like to work with How To Manage. Based on that conversation, they’ll send you a referral to have a formal consultation with someone from our New Member Engagement group.

If our team believes we can help you achieve your goals they’ll recommend the next-best step for you. Fill out the “I’m Interested in Joining HTM” form and you’ll be introduced to one of our members.

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