You own a law firm. But is that law firm a business…or is it just a job?
A business is comprised of systems that allow it to keep functioning, with or without a given individual – you in this case. On the other hand, a job requires YOU and your time.
Which do you own?
The easiest way to figure it out is to answer this question: What would happen to your law firm if you took a two week vacation?
Would it continue to operate like clockwork, with the legal work getting done, clients remaining happy, and new work continuing to come in? If so, congratulations, you own a business.
Would it grind to a halt altogether because it’s completely dependent on your presence? If this is your reality, what you really own is a JOB…and it’s time to get to work creating a business.
The advantages of owning a business rather than a job are endless. We just discussed vacations. But there’s also the security of knowing that, should you or a family member get sick, you can take time off work without your practice disappearing. There’s the reality that creating systems for your business ensure a much more consistent client experience. And there’s the fact that, when YOU aren’t the one responsible for getting all of the work done, you can spend all of your time looking for ways to improve the business and make it more profitable, rather than just doing tedious legal or clerical work.
If you own a business, congratulations! Keep looking for ways to make it even better. If you own a job and you’d LIKE to turn it into a business, we can help. Keep reading our blog entries and check out our video library. Subscribe to our newsletter. Read more about our community and the services we provide for lawyers like you. You’ll get the information and the tools that you need to build a BUSINESS…rather than keep working a job.