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Should you make the shift from working in the business to on the business?
Yeah… It depends.
There’s quite a bit to consider and it only makes sense once you’ve established a solid foundation.
It’s essential that the switch is something you’re equipped to handle and that it’s something you want to do.
You also need to be prepared for the short-term financial impact of losing your labor on the front lines.
1. Think differently
Play a game with me. Suspend disbelief and step into a world unaffected by things like the ethical rules of nonlawyer ownership of law firms. Do the following:
- Pretend you don’t have a law license.
- Accept that you own a law firm.
- Accept that the law firm is an essential source of your income.
What do you do today? What’s your next step? How do you get that call returned? How do you get that e-mail answered?
How do you answer employee questions and accomplish your daily tasks?
How do you attract clients? How do you handle consultations? Who does the legal work?
What if you weren’t able (because in this scenario you don’t have a law license) to serve your clients?
Who would do it? How would it be managed and supervised? How would the clients be treated? How would the firm practice law?
Answering these questions shifts your brain from in to on mode.
They start the ball rolling as you think about what needs to happen to shift your role.
2. Start doing the on stuff.
You’re ready to focus on the business’s growth. You want to bump up the bottom line.
You’d like to take home a little more money, do a little less work, and have less client-related stress.
You’ve got a realistic understanding of how this will play out and you’re committed.
What do you do to make the transition happen? Where do you start?
You start working on the business and stop using yourself as the default person to work in the business.
When the phone rings, don’t answer. When the email arrives, don’t respond.
When the client freaks out, don’t talk him off the ledge.
When the deadline approaches, don’t jump in and finish the work. When the fee is due, don’t collect.
3. Have someone else do client service work
In practice, delegating is simple: Transfer all of your client work to someone else.
“But, but, but,” you say. “I could have done it. It would have been done right. It would have been quick and efficient.”
Yeah, that’s true.
But then you’d be working in the business instead of in the company.
If you’re going to focus on the business, then focus on the company.
Let your team focus on day-to-day client management.
4. Accept a messy transition
Of course, the transition will be stressful and frustrating.
You’ll even make less money for a while. There’s no way to make more money until you start adding more value.
If you’re good at working on the business, you’ll make more eventually.
Knowing that the transition from in to on will cost money should put pressure on you to start adding value quickly so revenue increases.
You need to see quick financial results.
5. Allocate your time and money carefully
There will be a moment after you make the transition that you’ll have little to do.
Once you’re out of the client service role and your marketing machine begins to accelerate, you’ll find yourself with moments of calm.
When that happens, don’t let your foot off the gas pedal. Don’t be tempted to take a break from working on your business.
Most importantly, don’t jump back into your old client service role. You are in a financially vulnerable period. Press forward into the unknown. Move quickly.
You’ll likely add value faster by applying more energy and resources to marketing.
Balance this by making it possible for your staff to cope with the work increase through better management and technology.
Building clear financial dashboards will help you identify and address issues before they arise and create problems.
Devoting a big percentage of your day to marketing may feel awkward.
Marketing often involves taking chances, risking failure, and feeling vulnerable.
Move forward. Keep going.
6. Resist the pull to return to working in your business
The transition is difficult and it takes time. You can’t flip a switch and suddenly appear in your new role. Some forces will suck you back to your old role.
Most lawyers don’t survive the switch.
They let the tide pull them back into client service.
You have to want to make the move stick for it to become permanent.
You need the drive to transition because life resists change.
If you’ve ever tried to lose weight, start exercising, or quit a bad habit, then you know what I mean.
Making change stick is incredibly hard. It’s easy to slip back into our former role.