If only I knew 30 years ago what I know today…
Have you ever asked yourself that question?
Maybe you’d buy stock in Apple.
For me, it’s more about knowing how to run a successful law practice. I wouldn’t like to tell you how much my mistakes have cost me over the years, but each one represents an expensive lesson well-learned.
When I started my first law firm, I knew next to nothing about how to market and manage a law firm. I did know that TV advertising was the newest battleground, though many firms thought it was unseemly to be advertising on TV.
Despite my best attempts, I couldn’t find any other law firm owners who were willing to share with me what was working for them. So I had to figure it out for myself – and wasted a lot of money in the process.
Today, it’s very different for law firm owners. They have access to something that I didn’t, and it’s the short cut to a successful law firm.
The fast track to success comes from Mastermind groups.
I was reminded of the importance of Mastermind groups while I was flying back from a Mastermind meeting I attended recently in St Louis. It wasn’t a large group – there were eight of us – but, we all had different types of businesses. I was the only lawyer in the room.
By Masterminding with non-lawyers, I get to learn about the new technologies they’re using in their own businesses, whether it’s an online school for dental practices or a brick-and-mortar music school. They share what’s working and what’s not working in their businesses. Sometimes they even help me understand how that relates to my own business.
I can use everything I’ve learned to make my business better.
More importantly for PILMMA members, I can bring all those ideas back to share with them and explore in greater depth in our own Mastermind groups.
In a PILMMA Mastermind group, you have the opportunity to learn what your fellow lawyers from other markets (so they’re not your competition) are doing to improve their businesses. You also have the opportunity to share your own plans and receive feedback from your fellow group members, based on their own experiences.
In a Mastermind group, what you get is a shortcut to what’s proven to work and avoid what doesn’t work. You don’t have to take the word of a salesman; you can verify their claims with other lawyers who’ve tried them out.
Joining a Mastermind group opens your eyes to new opportunities.
One of the best opportunities is learning from someone else’s mistakes instead of your own. It’s easier and cheaper and it saves you time.
We all learn by trial and error, but it’s easier, quicker and cheaper to learn from someone else’s mistakes. Joining a Mastermind group enables you to grow your business faster, easier and better.
There is one caveat to joining a Mastermind group, though: you have to actually get stuff done.
Getting Stuff Done
Mastermind groups only work for people who put the effort into transforming their businesses. You can’t just think about implementing a new idea, you have to follow through and make it happen. You’ll never know for certain whether something will work in your business unless you actually try it.
The Mastermind members who have seen the most rapid transformation to their law firms are the ones who make things happen. Sure, some initiatives are duds, but like throwing spaghetti at a wall, a lot of it will stick.
Two phrases come to mind:
“Nothing moves until you do.”
“Massive action brings massive results.”
The most effective Mastermind members practice “massive action.” The least effective don’t move anything.
So, if you’re looking for the shortcut to running a successful law practice, and you’re someone who practices “massive action,” then you should get in touch to find out more about PILMMA’s Mastermind groups.
Click here to find out more.