Best Of: Take Your Profit First
Is your firm struggling with cash? Are you not bringing home enough money?
If the answer is yes, then it’s time to implement the Profit First system (from the book Profit First by Mike Michalowicz).
Owner’s Pay v.s. Profit
Before we get into anything let’s define Owner’s Pay and Profit.
Owner’s Pay is your salary for working.
Profit is what the firm made after all expenses were paid.
The Problem
What is causing this cash problem?
The root of the problem is human nature.
Mike Michalowicz likes to call what we do “bank balanced accounting” and that is where we naturally look at our bank accounts each morning and one of three things will happen:
- The account is negative and now you have to get it to positive before you get a penalty.
- There is little money in the bank, so you try to get extra work so you can get the money you know you’ll need.
- There is plenty of cash and what happens next is...
Positioning Yourself as an Authority with Mike Saunders
When people are looking to hire a lawyer, they want someone who is authentic and the go-to lawyer of that practice area. In this insightful interview, Moshe Amsel and Mike Saunders discuss the many ways to build your authority. When you become the authority figure of your practice area, people will gravitate to you because you are familiar and knowledgeable. Listen now to discover the different ways you can become the go-to person for your potential clients.
Resources Mentioned:
Law Firm Growth Free Coaching Call - https://www.profitwithlaw.com/freecoaching
Mike Saunders’ Website - https://authoritypositioningcoach.com/
FREE Access to Authority Marketing for Law Firms Book - https://www.profitwithlaw.com/authoritybook
Get your first authority boost single or triple pack ($497/$997) and start positioning yourself for success today - https://www.profitwithlaw.com/authority
Podcast 2 Publish - ...
You've Got Mail! with Andrew Stickel
In this eye-opening interview, Moshe Amsel and Andrew Stickel reveal the power of information products in your marketing strategy. They break down the basics of marketing and how to develop successful strategies in moving potential clients up the value ladder. With creative, insightful, and easy to understand examples, this interview will open your eyes to easier, simpler, and more profitable ways to market using your information products.
Resources mentioned:
Business by Design - https://www.profitwithlaw.com/bbd
How to Get More Law Firm Clients by Andrew Stickel - https://freebookforlawyers.com/
Trello - https://trello.com/
Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/
To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].
Connect with Moshe on:
Facebook - https://www.facebook.com/moshe.amsel
LinkedIn - ...
FREE Marketing!?!? Sign Me Up! With Sid Peddinti
Marketing can be such a struggle. There are so many different strategies that it’s hard to choose which one to use or know if it will work. Well, in this episode Moshe Amsel interviews Sid Peddinti, who shares the secret ingredient to marketing successfully: educating. Listen to this episode to learn more about how educating your audience through a non-profit education center can provide free lifetime marketing and an endless stream of clients for your law firm.
Resources mentioned:
Business by Design - https://www.profitwithlaw.com/bbd
Grants for Lawyers - https://www.profitwithlaw.com/freegrants
Living Forward Book by Michael Hyatt and Daniel Harkavy - https://www.profitwithlaw.com/livingforward
Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/
To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].
Connect with Moshe on:
Facebook - ...
Rise of the Digital CEO with James Wedmore
In this exciting episode, Moshe Amsel interviews his mentor James Wedmore, the guru of million-dollar information product businesses. He created a simple step-by-step guide to creating information products in your business. He shares with us the five essential gears that you need to run a successful digital business.
James’ video series Rise of the Digital CEO is currently out and free to watch but goes back in the vault in just over a week, so click here to access it: https://www.profitwithlaw.com/videoseries
Resources mentioned:
The FREE 8-Part Mini-Series: The Rise of the Digital CEO - https://www.profitwithlaw.com/videoseries
LIVE DEMO - Information Products for Law Firms - https://www.profitwithlaw.com/demo
Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/
To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].
Connect with Moshe on:
Facebook -...
Legal Products Instead of Services with Bobby Klinck
In this stellar interview, Moshe Amsel and Bobby Klinck reveal the magic of using information products. One of the best outcomes of having information products is that it builds relationships with potential customers. It doesn’t only raise your conversion rates, it also creates a following of people that will sing your praises to everyone. If you want to find out more about how this works and the steps you can take to accomplishing this feat, this is an episode you don’t want to miss.
Resources mentioned:
Unlock the Hidden Revenue Stream - One Day Summit - https://www.profitwithlaw.com/hiddenrevenue
Bobby’s website - https://www.bobbyklinck.com/
Patent Litigation Primer by Bobby Klinck - https://www.profitwithlaw.com/patentlitigationprimerbook
Episode 29 - Why Choosing a Niche Will Skyrocket Your Firm - https://www.profitwithlaw.com/029
Hubspot - https://www.hubspot.com/
Marie Forleo B-School - ...
Effectuating Real Change through Courses with Joey Vitale
In this episode Moshe Amsel interviews Joey Vitale, founder of Indie Law Firm. Joey created a course and shares with us how that has had a major impact on his firm, not only in revenue and processes, but also in having a larger impact on people. Moshe and Joey discuss their desire to have a greater impact and instigate real change in the world and how you can accomplish that by creating information products.
Resources mentioned:
Unlock the Hidden Revenue Stream - One Day Summit - http://profitwithlaw.com/hiddenrevenue
Joey Vitale on Facebook - https://www.facebook.com/attorneyforcreatives
Joey C. Vitale on Instagram - https://www.instagram.com/joeycvitale/
Owning it live show - can be found on Joey’s Facebook page - https://www.facebook.com/attorneyforcreatives
Episode 96 - Lawyers Are Leaving Money On the Table - Lots Of It - https://www.profitwithlaw.com/096
Episode 29 - Why Choosing a Niche Will Skyrocket Your Firm - ...
Step 3: Fortune Telling
Continuing the series of episodes related to adding information products as a revenue source for your law firm, Moshe Amsel shares the challenges that may come up and the number one way that you can persevere and stay the course.
Resources mentioned:
Unlock the Hidden Revenue Stream - One Day Summit - https://www.profitwithlaw.com/hiddenrevenue
Facebook Live Playlist with A Browne Live Demo of Implementing an Information Product in a Law Firm - https://www.facebook.com/profitwithlaw/playlist/854089461748647/
Episode 96: Lawyers Are Leaving Money On the Table - Lots Of It - https://www.profitwithlaw.com/096
Episode 98: Step 1: Define Your Clients Journey - https://www.profitwithlaw.com/098
Episode 100: Step 2: Where is the Gap? - https://www.profitwithlaw.com/100
Join the Law Firm Growth Incubator - https://www.profitwithlaw.com/incubator
Book a Free Coaching Session and Also Learn More About the 90 Day Law Firm Turnaround Group...
Itβs All About Positioning with Tangi Carter
At this point we know we need information products and we have some ideas for what they can be about, but now you may be asking, “where do I position this product?” In this episode Moshe Amsel continues the discussion about information products with Tangi Carter. Moshe and Tangi talk about the client journey and how to find the best places to position your information products.
Resources mentioned:
Unlock the Hidden Revenue Stream - One Day Summit - http://profitwithlaw.com/waitlist
Free coaching session with Moshe - https://www.profitwithlaw.com/freecoaching
Law Firm Growth Incubator - https://www.profitwithlaw.com/incubator
Tangi’s website - http://www.thepeacefullawyer.com/
Tangi’s Facebook page - https://www.facebook.com/thepeacefullawyer
Episode 049 - Getting Over 1,000 Google Reviews with Sam Mollaei - https://www.profitwithlaw.com/049
Mind Your Business Podcast - http://mindyourbusinesspodcast.com/
Join...
All Lives Have Always Mattered
The murder of George Floyd has heightened awareness of a still major issue in today’s society - that of racism. Some may argue that a business podcast is not the place to discuss this issue, but where is the right place? Haven’t we been talking about this in the right place before? Look where it has gotten us.
Today, we are doing something different on the Profit with Law podcast. Today we are discussing an issue that pertains to every single one of us, white or black. We need to figure out how to solve this problem so that we can get back to upholding our societal contract.
Resources mentioned:
Trevor Noah on George Floyd, the Minneapolis Protests, Ahmaud Arbery & Amy Cooper - https://www.facebook.com/comedycentraluk/videos/273053860481109/
Practical post from Rachel Brenke on business protection in violent protest areas - https://twitter.com/RachelBrenke/status/1267192737398472710
Unlock the Hidden Revenue Stream - One Day Summit - ...
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Author
Moshe Amsel
Author
Moshe Amsel the host of the Profit with Law podcast is not an attorney. As the owner of a successful accounting firm DreamBuilder Financial and Law Firm Growth coaching organization Profit with Law, Moshe has proven that there are better and different ways for a law firm to do business and be successful.
