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Lawyer Rat Getting Sick of Chasing Cheddar

Caminsky

New Contributor
Dec 27, 2022
13
13
Texas
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

New Contributor
Dec 27, 2022
13
13
Texas
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.).
 
Last edited:

MJ DeMarco

I followed the science; all I found was money.
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Read Rat-Race Escape!
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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

New Contributor
Dec 27, 2022
13
13
Texas
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

New Contributor
Dec 27, 2022
13
13
Texas
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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