How much of what you do each day could be considered “income producing activities”?
Client work is income producing. So is marketing which brings in (and keeps) the clients. Everything else is is an expense and should be minimized, delegated, or eliminated.
In my opinion, in an eight-hour day, five hours of client work is a good target. Another hour should be invested in marketing. That leaves two hours that can be used for admin, lunch, and (your choice), more client work or more marketing.
If you have lots of clients, do more work. If you need more clients, do more marketing.
Of course this is just a starting point and your mileage may vary.
Next step: hire (more) assistants so you can do more work and more marketing. After that, hire more lawyers and/or legal assistants and have them do most (or all) of the work. Then, hire people to supervise and assist your team so you can continue to grow, open another office, and have time to spend some of the loot you’re bringing in.
That’s how I built my practice. That’s how I quadrupled my income and cut my work down to three days a week.
Sound like a plan?
This will help you do more income producing activities
