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The Game Changing Attorney Podcast with Michael Mogill

254. AMMA — Starting and Growing Your Law Firm

The Game Changing Attorney Podcast with Michael Mogill

Michael Mogill

Management, Business, Marketing, Entrepreneurship

5.0538 Ratings

🗓️ 11 April 2024

⏱️ 22 minutes

🧾️ Download transcript

Summary

Entrepreneurship is not for the faint of heart, but every successful law firm owner has to start somewhere. From setting up shop, to onboarding support staff, to signing up the best cases and clients — each key phase of growth demands unwavering determination and relentless perseverance. In this episode of The Game Changing Attorney Podcast, Michael and Jessica Mogill share: How to find the courage to take the entrepreneurial leap How to overcome the challenges and uncertainties of making a crucial hire How to effectively market your law firm and establish a strong client base from the ground up ---- Show Notes: 02:19 – Making the choice between financial security and entrepreneurial freedom 05:21 – The difference between wanting it and committing to it 08:39 – Sacrificing luxuries and lifestyle comforts for entrepreneurial dreams  10:08 – How to navigate the decision to hire an associate 12:33 – Invest in capacity or pay the cost with your well-being 14:50 – How to attract clients and build a steady stream of business 19:00 – How to prepare for more cases ---- Links & Resources Ramen Noodles Porsche Mercedes-Benz The Game Changing Attorney (Book) Crisp Coach  ---- Listening to this episode but want to watch it? Check it out on Spotify.  Do you love this podcast and want to see more game changing content? Subscribe to our YouTube channel. ---- Past guests on The Game Changing Attorney Podcast include David Goggins, John Morgan, Alex Hormozi, Randi McGinn, Kim Scott, Chris Voss, Kevin O’Leary, Laura Wasser, John Maxwell, Mark Lanier, Robert Greene, and many more. ---- If you enjoyed this episode, you may also like: #55 Marcus Lemonis – The Three Keys to Business: People, Process, and Product #113 Kevin O’Leary – The Entrepreneurial Journey: Inside the Mind of Mr. Wonderful #243 AMMA – Success Without Safety Nets: The Entrepreneurial Journey

Transcript

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0:00.0

I see a lot of firm owners to just get reluctant about making any sort of investment or hiring

0:06.2

anybody and they're like, well, I'm going to hire this person. I'm going to pay X amount of money.

0:10.9

I'm going to pay more money. And my thought is always, well, if you don't hire this person,

0:14.9

I'm going to pay for it every day until you do.

0:27.8

I'm Michael Mogul, founder and CEO of Crisp, the nation's number one law from growth company.

0:30.5

I've built my business through practice, not theory.

0:35.9

Crisp started with just $500 to my name and has grown to over eight figures in revenue over the last few years,

0:37.8

earning a spot on the Inc 500 list of the fastest growing private companies in America. Our approach has been to take everything

0:42.1

we've learned about generating massive growth within our own organization and help the

0:46.0

country's most ambitious and committed law firm owners do the same for theirs. In each episode of

0:50.3

this podcast, I sit down with innovative market leaders from the legal industry and beyond to learn from those who thrive in the face of adversity, challenge the status

0:58.1

quo, and define what it means to be a true game changer. This is Jessica, head of coaching

1:03.7

strategy at Chris, and today we're flipping the script for another special edition episode to get

1:08.7

Michael's take on, how to find the courage to take the entrepreneurial leap, how to overcome the challenges and uncertainties of making a crucial hire, and how to effectively market your law firm and establish a strong client base from the ground up.

1:22.0

You have to be able to answer, I think, one fundamental question.

1:25.1

And it's why would somebody hire you and not your

1:27.7

competition? And if you can't answer this question, that's probably why they're not hiring you.

1:32.6

That's coming up on the Game Changing Attorney podcast.

1:42.4

Here we are. Another day. Another black t-shirt. Yes, yes. I'm ready for the A-MMA. And, you know, normally, we start off the podcast. Jessica, we tell them they can submit their questions to 404, 5, 311, 691, and that we got three different types of episodes in this podcast. We got the traditional interview format, the Encore editions, and the Ask Michael Mogul anything. You know, we tell them all about that, that we don't run any ads on the podcast. There's no fee for the podcast, but if you enjoy the episode, share it with a friend, and most importantly, leave a five-star review on Apple Podcasts. I know we know when we're telling those things, but let's just get right into it. All right. Thank you for telling them what we normally tell them. With that,

2:18.5

Hi, Michael. I've been at the same firm for eight years and desperately want to open my own firm.

2:23.2

My wife and I are very tight on money. We have two boys, four and two, that we need to provide for,

2:28.2

so not having a financial cushion is the only thing stopping me from making a move. I hear a lot

...

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