Have you ever felt like wanting to run your own law firm, but law school was not able to teach or prepare you for this kind of business?
There are many reasons lawyers wanted to know how to start a law firm business. Some want to run their own course and be their own bosses. Others want to have a more flexible schedule. And others realized that even if they work hard, they still do not make enough profit.
Whatever the reason is, starting a law firm may be exciting. However, like every other business, it can also be very overwhelming. You must have adequate knowledge and skills before starting one.
In this episode, Mark Rockwell shares his unique approach as a lawyer and entrepreneur to building a successful business—from what and who you need, to the attitude you must have.
If you want to learn more about the approach of starting and building a successful law firm business, then this episode is for you.
Here are the reasons why you should listen to the full episode:
Mark Rockwell started his career as an entrepreneur despite his legal background.
Mark aspired to impart EOS knowledge to young businesses.
Moshe: “You don't have to be a lawyer to know how to run a business. But you do have to know how to run a business to make money as a lawyer.”
Many attorneys take offense in the concept that a law firm is a business. If you want to run a successful law firm, perceiving it as a profession will only impede your business growth.
Mark Rockwell: “Most of the clients would assume that you're making probably far more profit than you actually are. As you and I were talking beforehand, many law firms are not profitable.”
Mark Rockwell: “Fortunately, in an era of virtual, it is easier than it used to be because an aspiring attorney has the ability to access the online help that they probably would not have had access to, even as recently as three or five years ago.”
Marck Rockwell described capital as a fuel: “capital for this journey is no different than putting fuel in your tank. You would never consider leaving New York City and heading to Pennsylvania on an empty tank. It would be ludicrous to think that you're going to drive a couple of 100 miles, but you're going to start with only enough gas in your tank to take you to the edge of town.”
Mark Rockwell’s “Four Achievements”
Mark shared his basic fundamental concepts to follow if you are running a business and to run it successfully: FACE (Focus, Accountability, Clarity, and Execution.
Mark Rockwell stresses the importance of focusing on one thing before jumping to another.
Mark Rockwell: “I believe most failures are the result of no cadence, no rhythm, follow-through, and we commit to something. And then three months later, we check back, and then we will be surprised, nothing has been done.”
Mark Rockwell argues that we humans tend to create long lists of tasks that, in the end, overwhelm us mentally when we don’t accomplish them.
Mark Rockwell suggested having quarterly plans and goals.
Mark Rockwell: “So if someone said to me, what's the first step I need to take and being successful, I would say, sit down and think through what is the most important line of business or activity that interests you. And then set aside the rest, even if you're tempted because you cannot focus on more than one or two things at a time. It's just you can't.”
Mark Rockwell is a lawyer and entrepreneur. Mark Rockwell passed the bar exam in the State of Washington. Mark Rockwell worked as a lawyer before venturing into the field of business.
Now, as the owner of Coach Rockwell, Mark Rockwell offers unique approaches to help his fellow attorneys build their own businesses.
To learn more about Mark Rockwell and his business, visit https://www.coachrockwell.com/.
If you want to schedule a coaching appointment with Mark Rockwell, you may call 503-784-7205 to leave a message at https://www.coachrockwell.com/contact-me/.
For more episode updates, visit my website to reach out to him, he would offer one-hour coaching for free!
So head on to his website now or dial 503-784-7205!
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