Thank you to LegalEase for sponsoring this episode.
Molly and James discuss the difficulties of transitioning from a legal career to a business-minded one. They touch on how lawyers may have the skills to win a case, but may not have the skills to run a successful business. James also discusses the importance of taking time off to manage emotions and maintain physical health, as well as the importance of treating employees with respect. Lawyers may be strong-willed and right in the courtroom, but they also must treat their staff with respect and understanding in order to run a successful business.
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Quote of the Show:
“Every decision has a Consequence. Period.” – James Grant
Takeaways:
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- Accepting all clients in the early stages of a business is important to make ends meet, but eventually, narrowing down the target market is crucial for sustainability.
- Every decision has consequences, and entrepreneurs must be mindful of this when building a business.
- Confidence and being unapologetic about who you serve are crucial when building a successful law firm.
- Transitioning from a legal career to a business-minded one can be difficult, and lawyers must recognize that they may not have all the skills necessary to run a successful business.
- Hiring people who are better and smarter than you can lead to success in business.
- Not everyone will want to do business with you, and entrepreneurs must accept this.
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