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Lawyer Rat Getting Sick of Chasing Cheddar

Caminsky

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Hey folks!

I finished the Great Rat Race Escape by our own @MJ DeMarco a few weeks ago, and it immediately became my favorite business book! A little about myself: I am the managing attorney at a small law firm (business law) and currently looking into branching out into a new business. I enjoy what I do, but I'm not sure I want to keep up that grind for the next 30 years. I'm not here to self-promote, but if y'all are interested, I can repost some of my blog posts and articles that feature legal tips for businesses.

I hope to start getting more involved in the forum. I have been working on my Planasy but need to really commit to taking action.
 
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MJ DeMarco

I followed the science; all I found was money.
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Welcome sir, is there no way to scale law, or get into better paying gigs? Glad you enjoyed TGRRE !

I can repost some of my blog posts and articles that feature legal tips for businesses.

Feel free to do so in any thread that has a legal concern. We get them periodically!

Great to have ya!
 

Caminsky

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Welcome sir, is there no way to scale law, or get into better paying gigs? Glad you enjoyed TGRRE !



Feel free to do so in any thread that has a legal concern. We get them periodically!

Great to have ya!
I'm working on a few ideas, especially in the realm of "preventative maintenance." The typical scenario is client calls up after SHTF and needs us to help them correct course. I am looking at ways of keeping the ship on course with more regular check-ins and periodic assessments. I have also just begun working on a book idea that covers some of the more common problems I encounter (choosing the right entity, HR compliance, breaking up with cofounders, etc.).
 
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MJ DeMarco

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I'm working on a few ideas, especially in the realm of "preventative maintenance." The typical scenario is client calls up after SHTF and needs us to help them correct course. I am looking at ways of keeping the ship on course with more regular check-ins and periodic assessments. I have also just begun working on a book idea that covers some of the more common problems I encounter (choosing the right entity, HR compliance, breaking up with cofounders, etc.).

As a small business owner, there's probably a niche opportunity in serving SBOs with monthly legal services.

I'd probably pay $X/mo to have a lawyer on call who can review documents, agreements, and any other legal questions. Some months I might need you 2 or 3 times, other months, nothing. The "retainer" business model feels a bit antiquated. Obviously the above would have to have certain limits and possibly be scaled with paralegals. Dunno, just thinking out loud here, I can't recall how many times we've answered questions here with, "You need a lawyer," or "talk to a lawyer."
 
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Caminsky

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As a small business owner, there's probably a niche opportunity in serving SBOs with monthly legal services.

I'd probably pay $X/mo to have a lawyer on call who can review documents, agreements, and any other legal questions. Some months I might need you 2 or 3 times, other months, nothing. The "retainer" business model feels a bit antiquated. Obviously the above would have to have certain limits and possibly be scaled with paralegals. Dunno, just thinking out loud here, I can't recall how many times we've answered questions here with, "You need a lawyer," or "talk to a lawyer."
So, without giving up the full goose, you're pretty close to what I'm trying to roll out in the next few months. One of my clients (and a friend) has volunteered to be my guinea pig as I try to work out the kinks. I've had too many clients tell me "well I should have talked to you about this first" with the implied "but I didn't want a bill." The key is helping businesses understand that a little money every month is a heckuva lot better than a 6 figure settlement!
 

LateStarter

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As a small business owner, there's probably a niche opportunity in serving SBOs with monthly legal services.

I'd probably pay $X/mo to have a lawyer on call who can review documents, agreements, and any other legal questions. Some months I might need you 2 or 3 times, other months, nothing. The "retainer" business model feels a bit antiquated. Obviously the above would have to have certain limits and possibly be scaled with paralegals. Dunno, just thinking out loud here, I can't recall how many times we've answered questions here with, "You need a lawyer," or "talk to a lawyer."
Yeah a company called LegalShield offers that kind of a service for families and SBOs. I'm not sure exactly how it works from the lawyer's side of things (lead gen, more like a retainer?).

The part that might be missing from their business model for the customer is the relationship side. People like other people they can trust. With LegalShield you don't really know who is going to give you a call back or what their background is when you request legal assistance. Getting a profile on members of a 'legal team' and their expertise/experience in various areas to help build rapport and trust could be a differentiator for this space.
 

Caminsky

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Yeah a company called LegalShield offers that kind of a service for families and SBOs. I'm not sure exactly how it works from the lawyer's side of things (lead gen, more like a retainer?).

The part that might be missing from their business model for the customer is the relationship side. People like other people they can trust. With LegalShield you don't really know who is going to give you a call back or what their background is when you request legal assistance. Getting a profile on members of a 'legal team' and their expertise/experience in various areas to help build rapport and trust could be a differentiator for this space.
I would say trust is huge. I had a client tell me the other day "you're my guy, I don't make any major decision without talking to you first." Understanding the issues that SBOs are facing is another biggie. Quite frankly, the legal industry is saturated, but the quality of counsel can be pretty low. When I go to the doctor, I want someone who seems to understand his field pretty dang well. I can only assume people expect the same from me. So the problem I need to solve is "how can I provide SBOs with regular high-quality advice that doesn't break the bank?"
 
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Caminsky

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Update time (better late than never).

I will keep it short and sweet. The legal practice has done well this year, which is good. The downside is I was going to use the "slow" period to dive into some of my ideas. I may bring in someone to help with marketing and implementing some of these things.

I have launched two "side hustles" in the form of websites (and related social media). These hustles are related to my field (business law) and my hobby (fitness).

Business Info Site:
-I'm writing regularly and getting some engagement by posting articles on LinkedIn.
-I have been posting videos to TikTok which serve as abbreviated summaries of my articles. I am averaging about 700-1000 views per video right now.
-I am not getting much in the way of Google ranking or organic traffic from Google.

Fitness:
-I posted articles pretty regularly but went through a lull in June when I was busy. I have picked back up recently.
-TikToks are also getting good engagement. Some get a lot of attention. Others get very little.
-I am getting little to no engagement on Twitter.
-I have a handful of affiliate sales (I think I jumped into affiliate marketing too soon, in retrospect) all related to one specific product, which I rank well for.
-As mentioned, I rank well on one product I wrote about. I rank decently for a few others, but I'm not getting as much organic traffic as I would like.
-I had relatively well-known fitness brand reach out to me this week. They want to start sending me products to review. I'm pretty excited about this development.

All in all, I'm excited to see some traction. I know I have too many plates spinning (don't even ask me about my kids' activities and volunteering), but I also enjoy chaos. If one site starts to take off, I may need to focus on just that site. We will see.
 

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