From $250k to $750k: How Not to Fall Into “The Crack”


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Join us for a next level episode of the NewLaw Podcast for Entrepreneurial Lawyers

Ali Katz is speaking to those of you who are making the leap to scale from 250k to 750k, sharing how to navigate this part of the journey without falling into the cracks and pitfalls along the way that would keep you from reaching your goals. Ali, as always, shares how you can reach these goals while still having your time, attention, and energy, and how to enjoy the process along the way.

Key Takeaways:

  • Recognize the Critical Stagnation Points: Transitioning from $250k to $750k requires different systems and mindsets. Identifying and planning for these stagnation points can prevent your practice from backsliding.
  • Importance of Financial Management: Developing a financial roadmap and understanding cash flow forecasts is crucial for making informed investment and growth decisions. This helps in anticipating financial gaps and planning to bridge them 
  • Building a Reliable Team: Hiring the right people and creating a supportive team environment are vital for sustaining growth and reducing the owner's load. Effective delegation and leadership can substantially enhance your firm's capability.
  • Strategic Marketing Systems: Moving beyond basic networking and referrals to systematic marketing efforts is necessary for reaching the $750k milestone. Integrating new marketing channels can drive consistent client engagement and revenue streams.
  • Mentorship and Hands-On Support: Continuous coaching and guidance from experienced mentors can smooth the scaling process. Personalized advice helps in navigating the complexities of business growth more effectively.

 

Transcript


Brett Trembly:
It's like as soon as we get comfortable, we stop finding new money because it's like our brains are like, okay, I've made it to this level and so I don't need to take the next step.

Ali Katz:
Yeah, I'm going to hold on to what I have. I'm going to hold on to what I have and that's going to keep me safe. And it's actually the opposite.

Brett Trembly:
It's a fear base. You know, a quote that I love speaking to what you're saying is that decisions change reality. So people that sit around waiting for reality to change, it doesn't work that way. Like you're saying, as soon as you make a decision, things start organizing for you.


Ali Katz:
Welcome to the NewLaw Podcast for Entrepreneurial Lawyers. Here at Personal Family Lawyer, we want to help more families and business owners make eyes wide open legal and financial decisions. But we cannot do this without you. Which is why we started this podcast to find those of you ready to offer a better way to serve your…