Profit First for Lawyers

In this episode we tackle a harmful and self-limiting belief that runs rampant in the legal community, the Doctrine of Sacrifice. Which is a belief that celebrates sacrifice for the sake of sacrifice, elevating it above all else. This is something which negatively impacts lawyers’ lives and businesses. Defining “The Doctrine of Sacrifice” RJon explains that “The Doctrine of Sacrifice” traces its r...

In this episode we look at how to define, measure, and quantify the success of your law firm using RJon’s own definitions of success. Measurements of Success RJon breaks down how he defines a successful business into three key areas: Financial Success: The business must provide enough profit to support your desired lifestyle Personal Success: The business must allow for work-life balance, quality...

In the first episode of season two, we answer your biggest questions from last season — “What are Profit First accounting principles?” and “How do they help law firm owners become more profitable?” To answer those questions, RJon explains how Parkinson’s Law, the Primacy Effect, and Plate Size are foundational frameworks for Profit First methodology. Understanding these key concepts is a must for...

This bonus episode of the Profit First For Lawyers podcast was originally featured on The Managing Partners Podcast hosted by Kevin Daisey. This interview with RJon Robins is the second in a two-part series. Part one of the series can be heard on Apple Podcasts or Spotify and watched on YouTube . The Definition of a Successful Law Firm RJon picks up the conversation from last week’s episode by dis...

This bonus episode of the Profit First For Lawyers podcast was originally featured on The Managing Partners Podcast hosted by Kevin Daisey. This interview with RJon Robins is the first in a two-part series. Redefining Success RJon shares his transformative journey from financial adversity to profitability. This episode focuses on the critical mindset shift law firm owners should embrace as entrepr...

The curtain closes on a sensational season for the Profit First For Lawyers podcast. We thank you for joining us each week for episodes filled with actionable insights. This podcast was launched in advance of the Profit First For Lawyers book publish date. All while RJon was in Paris. The surprise reveal about the podcast to RJon at the July Live Quarterly Meeting (LQM) made for some fun moments o...

Mike Michalowicz, author of Profit First and co-founder of Profit First Professionals talks all things Profit First. Mike shares the story behind Profit First, which he developed after nearly losing everything when his business collapsed. This experience prompted him to study what makes companies profitable. His revelation? Apply the same personal finance “pay yourself first” principle to business...

As we approach the end of the season, we look back on RJon’s promise to readers of his book Profit First For Lawyers. “If you implement what I’m going to be sharing with you in this book, your law firm will definitely become more profitable.” RJon Robins, Profit First For Lawyers, Chapter 1 Personal Impact and Professional Benefits In this episode, Karli speaks with law firm owners who share perso...

This episode packed with Profit First insights features Ron Saharyan, co-founder of the Profit First Professionals. Ron shares practical insights about Profit First fundamentals. He gives actionable tips for law firm owners who want to build a healthy, sustainable, and profitable business by following the Profit First methodology. We also hear about how Ron’s childhood friendship with Profit First...

In this episode, we have a candid conversation with Marie Drake who shares the story behind why she became a lawyer, her family law practice, and her “No B.S. Divorce” model. She also talks about how a colleague’s drastic transformation led Marie to attend a Live Quarterly Meeting and join How To Manage A Small Law Firm four years ago. Marie has embraced Profit First and found RJon’s win-win model...

In this revealing episode, RJon flips the script and calls out lawyers who may be sucky clients to their bookkeepers. RJon in the Studio In Chapter 16 of the Profit First for Lawyers book, RJon compares the attributes of disengaged legal clients to how some lawyers treat their bookkeepers. From showing up late (or not at all) to meetings and expecting their lawyers to read their minds to shirking...

This candid episode tackles a difficult topic – many law firm owners are using their household income to subsidize their law firm’s business at the expense of their household finances. RJon in the Studio During a recording session, Karli asked RJon for clarity about why some law firm owners use household money meant for children’s education or other family expenses to fund their business. RJon cal...

Alejandra Leibovich, Co-Founder of How To Manage A Small Law Firm , explains how law firm owners can get off the ground and take flight to escape the “doctrine of sacrifice” mentality. She also recounts the early days of How To Manage and the origin of TAYE ASTUYA. Stuck on the Ground Running a profitable law firm requires a strategic bird’s eye view. Ale shares how struggling law firm owners stay...

In this episode of Profit First For Lawyers, RJon explains the revolutionary concept of categorizing overhead expenses as either “static” or “dynamic” to better control costs and increase opportunity for growth. RJon in the Studio RJon goes into detail about the differences between Static Overhead and Dynamic Overhead. He explains Static Overhead as fixed costs like rent, utilities, and subscripti...

Fear and self-doubt can prevent us from achieving our biggest dreams and reaching our fullest potential. In this special Halloween episode of the Profit First For Lawyers podcast, Karli and Raul discuss how to face fears, unmask ego, and breakthrough limiting beliefs. Key Insights from RJon Their conversation revolves around a clip from a Facebook Live in 2021 of RJon talking through an early draf...

An overview of Total Owner Benefits (TOB). Looking beyond just salary to the full profit potential law firm owners can receive as outlined in Chapter 9 of the Profit First for Lawyers book. RJon in the Studio RJon explores conventional vs. creative definitions of profit. He also tackles law firm owner pay as it relates to fair market salary for their work roles. He discourages inflated owner salar...

In this episode, we are joined by RJon’s personal accountant, Daniel Ferro to discuss perspectives on profitability. Daniel shares his journey from traditional accounting jobs to joining RJon’s fast-paced team at How to Manage a Small Law Firm . Daniel offers a glimpse of what it is like to work closely with RJon and the insights he has learned along the way. Defining Profitability Daniel explains...

We continue exploring how Generally Acceptable Accounting Principles (GAAP) was not meant for non-publicly traded companies like private law firms. RJon in the Studio RJon reviews how GAAP was created by regulators to standardize publicly traded company accounting after the 1929 stock market crashes. He argues GAAP has nothing to do with maximizing private company profits. This is only one of the...

Denise Doonkeen returns to discuss how truthful yet kind communication, even when uncomfortable, leads to better outcomes in business and life. A Coaching Session In The Studio We hear a behind-the-scenes clip of RJon coaching Karli in the studio. After a “flat” reading, he urges her to give him candid and honest feedback about his narration performance. He explains that hard truth is far kinder t...

In our ongoing accounting and tax series, we begin a two episode deep-dive into Generally Accepted Accounting Principles (GAAP). RJon takes a hard look at the origins of GAAP, explores why accountants and CPAs continue to use it, and why opting-out of GAAP is worth consideration. RJon in the Studio We hear a brief history lesson on the creation of GAAP. To do so we journey back to the Roaring ’20s...

In this episode, Oscar Ferenczi, General Manager of How To Manage A Small Law Firm, joins Karli in the studio. Oscar with a rich background in business discusses the importance of truth in business, growth strategies, and why it’s essential to seek advice from people who have themselves achieved success. RJon in the Studio While accountants may be adept at accounting for revenues and expenditures,...

In this episode, we explore the differences between the oaths and responsibilities lawyers and CPAs have to their clients. Discover what sets them apart and the case for finding a CPA who will advocate for your law firm. RJon in the Studio To gain insight into the core tenants and motivations of professionals such as CPAs or attorneys, RJon examines their respective oaths. One distinction is that...

In this episode we look at the difference between costs associated with an expense and an investment.   Something may seem expensive, but if it helps you achieve your goals, it’s likely an investment not just an expense. Mindset Shift = Peace of Mind Delisi Friday, returns to discuss how one piece of RJon’s actionable advice encouraged her to challenge her mindset and cultural norms. She shares ho...

In this episode, we uncover key insights about financial and tax advisors – what they do, what their limitations are, and how to know if yours are right for you. RJon in the Studio During the recording session for chapter seven of the Profit First For Lawyers audiobook, Karli asked RJon about the differences between a bookkeeper, a controller, an accountant, and a CFO. RJon answers with a creative...

In this episode we hear from RJon’s personal and business tax strategist, Larry Brown. As a CPA and Tax Attorney, Larry has a deep understanding of tax laws and a knack for strategic planning. This episode will reshape the way you think about your law firm’s tax strategy. RJon in the Studio RJon challenges the age-old belief that expenses are always a negative. He unveils how, with the right tax s...