Profit First for Lawyers

“I’ve seen thousands and thousands of still struggling solo and small law firm owners allow these mindset challenges around Profit First to stand between themselves and the life they could be enjoying. The life of a far more successful law firm owner.” – RJon Robins, author of Profit First for Lawyers More Than Money What if the biggest benefit of Profit First wasn’t the money? As we wrap up the third season of the Profit First for Lawyers podcast, RJon reminds us that Profit First is about far more than increasing profit. It’s about overcoming the mindset challenges that keep law firm owners from building the business and the life they truly want. Through a powerful lesson from the audiobook and a montage of real law firm owners, this episode explores the many ways Profit First creates transformation both inside and outside the office. This is a theme we’ve seen throughout the season from law firm owners. We heard from those struggling with overwhelming accounts receivable (Ed Gegan) and others wondering whether they were going to wind up with any profit at the end of the year (Matt Loker). We’ve also heard from owners whose firms were profitable, yet they were still exhausted and unhappy (Leah Mayersohn). Time and time again, we heard about the transformations that occurred once they began taking their profits first. Beyond the Numbers In this episode, Karli reflects on her own unexpected Profit First journey and how opening a single Profit account changed her relationship with money. She also shares a collection of stories from law firm owners who describe what happened in their lives and firms when they began consistently taking their profits first. While each story is different, they all point to the same conclusion: Profit First doesn’t just change your bank account. It changes the way you think, lead, and live. The Bigger Picture Whether it’s greater financial confidence, more time with family, less stress, or the freedom to make better business decisions, Profit First is about building a law firm that works for you instead of the other way around. As this season comes to a close, this episode serves as a reminder that profitability isn’t the destination. It’s the foundation for everything that comes next. Mentioned Listen to our other podcasts featuring RJon Robins: RJon Robins: From The Vault The Exponential Entrepreneur Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“My banker didn’t understand. My accountant didn’t understand. My bookkeeper didn’t understand. Everyone was fighting me on it, and they were all wrong, and I was right.” – RJon Robins, author of Profit First for Lawyers Why do so many accountants push back on Profit First? In this episode, Danny Ferro, Senior Controller at How To Manage a Small Law Firm, returns to discuss one of the biggest misconceptions about Profit First. As a CPA, Danny originally believed the Profit First system’s separate bank accounts made accounting more complicated. But after working with RJon and seeing Profit First in action, he discovered that its greatest value wasn’t improving accounting. It was improving the way business owners make financial decisions. Think Like a Business Owner Now as a believer in the Profit First methodology, Danny explains how the system is designed to influence behavior in a way that no spreadsheet can. Separating money into dedicated accounts provides greater clarity, simplifies financial decisions, and helps the owner focus on what really matters. In addition to touting the benefits of Profit First, Danny also explores the value of financial dashboards, building cash reserves, and knowing when it’s time to bring additional financial expertise into your business. The Simplicity That Scales Business owners need simplicity, not complexity. Here’s the counterintuitive lesson: the bigger your business grows, the more valuable Profit First is in making strategic decisions quickly. Plus, the discipline of Profit First also strips away the temptation to “borrow” from reserves and forces a business to operate on what is available. Mentioned Season 1 episode with Daniel Ferro: Focus On Things That Matter How To Manage a Small Law Firm: Fractional Controller Services Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“Don’t stop doing Profit First. Keep doing Profit First. Hold the line.” – RJon Robins, author of Profit First for Lawyers What happens when your law firm needs the money you’ve already allocated to profit? Making Profit Non-Negotiable In this episode, RJon explains why taking your profit first must remain a non-negotiable part of running a law firm. Through two teaching clips, he addresses one of the most common concerns law firm owners face: what to do when operating expenses or payroll create pressure to dip into your Profit account. Rather than abandoning the system, RJon shares a practical approach that protects the integrity of Profit First when your business is under financial pressure. Key Takeaways Where Profit First belongs in your budget Why profit should be treated as a non-negotiable business commitment What to do when your business needs access to Profit First funds Mentioned Listen to Break Through Your Profit First Mindset Blocks with Erika Ferenczi Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“The business of a law firm is quite simply to sell and deliver legal services… You have to market, you have to sell, you have  to produce, you have to deliver, you have to get paid.” – RJon Robins, author of Profit First for Lawyers If your law firm is already profitable, is Profit First for you? In this episode, we hear from law firm owner and attorney Leah Mayersohn about how she discovered that even a successful law firm can benefit from implementing Profit First. After more than two decades running a profitable law firm, Leah initially dismissed Profit First as unnecessary. It wasn’t until she accepted RJon’s challenge to open one Profit account that she discovered how much opportunity was hiding in plain sight. From stronger financial accountability and improved business systems to greater freedom and a higher quality of life, Leah shares why Profit First became about much more than increasing profit. Thinking Like a Business Owner In an audiobook clip from Chapter 5, RJon explains the difference between the job of a lawyer and the business of a law firm. That distinction resonated strongly with Leah because law school prepared her to practice law, but not how to build and run a business. That realization changed the way she approached her firm. Now, instead of working seven days a week at all hours, she is able to spend time away from her firm while it continues to grow. Her experience demonstrates that Profit First isn’t just about increasing profit. It’s about intentionally building a law firm that creates professional, personal, and financial profit for the owner. Mentioned: Chapter 5 Tea Time Segments Part 1: Marketing Part 2: Sales Part 3: Production Part 4: People Part 5: Physical Plant Part 6: Money & Metrics Part 7: You (Owner’s goals) Connect Connect directly with Leah Mayersohn: https://mayersohnlaw.com Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“Do not let perfectionism be the enemy of profitability. Profitability and perfect rarely go together. Imperfect and profitable? They get along great.” – RJon Robins, author of Profit First for Lawyers Progress Beats Perfection Perfection keeps too many law firm owners from taking the very actions that make their firms more profitable. Let’s face it: how many opportunities have you missed because you were waiting for the perfect time, the perfect plan, or the perfect solution? In this milestone 100th episode of the Profit First for Lawyers podcast, Karli revisits one of RJon’s most enduring lessons: profitable businesses are built through consistent action, not perfect execution. This episode explores why Profit First does not require a perfect implementation to start delivering results. Whether you’re opening your first Profit First account, launching a new service, or tackling a project you’ve been putting off, you’ll discover why small, imperfect steps often create the biggest breakthroughs. Imperfect Beginnings: From 0-100 As she reflects on reaching 100 episodes, Karli shares the story of launching this podcast while RJon was in Paris and the release of Profit First for Lawyers was only weeks away. Looking back, she realizes that waiting for everything to be perfect would have meant never getting started. Even if that first attempt makes you wince later, sometimes the most profitable decision you can make is simply to begin. Mentioned: Episode 1: Why You’re Afraid of Profit Episode 40: Enjoy the Suck featuring Ron Saharyan How To Manage a Small Law Firm Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“If you’ve got no profit, then you can’t do great marketing that gives you the option to say, ‘No thank you,’ to a bad client or even the wrong client with the wrong case.” – RJon Robins on Love Thy Lawyer podcast In this special bonus episode, we’re sharing RJon’s appearance on the Love Thy Lawyer podcast, hosted by Louis Goodman. The conversation goes beyond the principles in Profit First for Lawyers to explore what shaped RJon’s philosophy on law firm management. He reflects on the lessons he learned as a young law firm owner, the guidance that changed the course of his career, and why helping lawyers build profitable businesses became his life’s work. Those experiences became the foundation of what eventually became How To Manage a Small Law Firm. When it comes to profit, RJon offers practical, real-world insight into why so many law firm owners struggle with the business side of their firms. He shares why profitability creates more than financial security. It gives law firm owners the freedom to make better decisions for their clients, their teams, and their families. These are the same core concepts found throughout Profit First for Lawyers. This episode includes a pre-order announcement for RJon’s forthcoming book, Truth, Lies, Mistakes, or Bullshit, co-authored with John David Mann. Mentioned: Love Thy Lawyer podcast hosted by Louis Goodman– RJon Robins Interview podcast audio or podcast video Pre-order: Truth, Lies, Mistakes, or Bullshit by RJon Robins and John David Mann Learn more about How To Manage a Small Law Firm Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“Let’s keep in mind, rapid growth consumes cash. You burn cash to grow your firm.” – RJon Robins, author of Profit First for Lawyers Growing your law firm requires more than wishful thinking. It requires a deliberate plan. This episode pulls from RJon’s original 2021 livestream, where he spoke through the material that would eventually become Profit First for Lawyers. The core message is simple, yet one that is often misunderstood: temporarily sacrificing higher profit margins can be a smart investment when it’s part of a long-term strategy for building a stronger, more profitable firm that serves more people. A Tale of Two Law Firms Through a simple comparison of two law firms, RJon demonstrates why a firm growing according to a deliberate business plan may report lower profit margins today while creating significantly greater profit, stability, and opportunity in the future. Growth consumes cash. Hiring talented team members, investing in better systems, improving marketing, and expanding your firm’s capacity all require financial resources. The key isn’t avoiding those investments. It’s making them intentionally with a clear plan for where you’re headed. Intentional Growth Requires Investment Some of the most valuable returns on intentional growth never appear on a profit and loss statement. As RJon explains, a strong law firm creates more than financial profit. It creates greater personal freedom, increased stability, and the confidence that your business can continue operating even when you step away. The goal isn’t simply to maximize today’s profit percentage. It is to build a law firm that creates greater value over time. Mentioned Episode 75: Defining Success Chapter 9 of Profit First for Lawyers Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“There is no place on the balance sheet for the freedom of getting to live life on your terms.” – RJon Robins, author of Profit First for Lawyers Profit means something different to law firm owner John Cannon today than it did when he opened his law firm in 2019. In this episode, John shares how his understanding of profit has evolved since reading Profit First for Lawyers and implementing Profit First in his practice. John shares a powerful clip from Chapter 9 of the Profit First for Lawyers audiobook. It explores the idea that true profitability extends beyond dollars and cents to include freedom, intentionality, and building a business that supports the life you want to live. Beyond the Numbers Early in his career, self-described Type A personality John Cannon’s focus was simple: generate more revenue and grow the firm. As his firm matured, so did his definition of profit. Today, profit also means having the freedom to spend time with family, confidence in his leadership team, and the ability to step away from the daily practice of law while knowing the business continues to serve clients and his community well. Building a Business That Supports Your Life Implementing Profit First allowed John to build a business that reflects his personal priorities while also growing a profitable law firm. He emphasized how strategic planning, developing strong systems, delegating responsibilities, and consistently working toward his big-picture goals have been key to his success. He encourages law firm owners to define what a profitable life looks like for themselves and intentionally build a business that supports that vision instead of only measuring success by financial performance. Action Steps Define what profit means to you beyond financial results. Build your business intentionally to align with the life you’re trying to live. Remember that profit can include more than money: time, freedom, family, flexibility, and peace of mind. Connect Connect with John Cannon directly at: www.cannonandassociates.com Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“If you’re not paying attention to core working capital, it’s like waking up one day and all of a sudden you’re in the middle of a shit storm. And you’re like, “How did this happen?!” – RJon Robins, author of Profit First for Lawyers In the final episode of our seven-part Financial Literacy Series, RJon introduces one of the most important concepts for long-term business stability: core working capital. Drawing from both the Profit First for Lawyers audiobook and the 2019 live workshop, he explains why maintaining adequate working capital isn’t about fear. It’s about creating the financial cushion that allows you to grow intentionally instead of constantly reacting to cash flow challenges. Throughout this series, we have talked about understanding your numbers, calculating Total Owner Benefit, determining your normalized salary, implementing Profit First, and strategically getting out of production. Core working capital brings all those lessons together. What Financial Literacy Adds to Your Life Our exploration into what it means to become financially literate as a law firm owner has been about understanding the story your numbers are telling you. This knowledge can help you make better decisions for your business, your family, and your future. Action Steps Review your firm’s monthly operating expenses and determine how much core working capital you currently have available. Meet with your leadership and financial team to discuss your growth goals and whether your current financial cushion supports those plans. Use what you’ve learned throughout this Financial Literacy Series to make intentional, well-informed decisions that strengthen your business for the long term. While financial literacy does not eliminate uncertainty, it does give you the confidence to make informed decisions about your business growth. As RJon has explained throughout the series, the goal isn’t to simply accumulate cash. It is to build a business that gives you more options, greater stability, and the freedom to think beyond today’s challenges. Mentioned Parts 1-6 of the Financial Literacy Series Part 1: You’re Not Bad With Numbers Part 2: Understanding the Stages of a Law Firm’s Growth Part 3: Calculating Your Total Owner Benefit Part 4: What Is Your Normalized Salary? Part 5: How Profit First Actually Works Part 6: Getting Out of Production Chapter 9: Total Owner Benefits: Core Working Capital Speak with How To Manage a Small Law Firm team Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!

“If your law school experience was anything like mine, chances are they taught you nothing in law school about the business of how to manage a law firm.” – RJon Robins, author of Profit First for Lawyers Sometimes the right book arrives at the right moment. For estate planning attorney Colleen Robinson, Profit First for Lawyers arrived in the mail just as she was in the midst of looking for solutions. She didn’t know what was missing, only that there must be a better way to run a law firm that would give her the clarity, control, and future she wanted. In this episode, Colleen shares how one unexpected gift became the catalyst for a completely different way of thinking about running a law firm. She didn’t just read the book from cover to cover. She acted on what she learned. Each step created forward momentum, ultimately changing her business model and implementing Profit First. Throughout this process, she was able to significantly increase her firm’s revenue while redefining what profit means for her and her family. One Decision Led to the Next Colleen began by learning the Seven Main Parts of Every Successful Law Firm and writing her first business plan. Working with her CEO helped clarify her vision for a business that aligned with her personal, professional, and financial definition of profit. Along the way, she discovered that running a successful law firm wasn’t simply about practicing law better. It was about intentionally building a better business. Profit Changed More Than the Numbers Implementing Profit First changed more than Colleen’s finances. It changed the way she experiences business ownership. Instead of worrying about unexpected tax bills, she sets those funds aside before they’re due. More importantly, she has redefined profit to include time with her family, flexibility in her schedule, and the Total Owner Benefit her business provides. Now the business she is building reflects the life she wants to live, not the other way around. Colleen’s transformative journey began with a book in the mail and a willingness to learn, the courage to act, and the discipline to keep moving forward one decision at a time. Action Steps Complete an honest assessment of why you started your law firm and define what success looks like for you. Create or revisit your business plan with your long-term personal and business goals in mind. If you’ve been waiting for the “perfect” time to implement Profit First, start small and begin today. Mentioned Chapter 5: The Seven Main Parts of Every Law Firm Business Plan Workbook How To Manage a Small Law Firm: Business Diagnostic Boot Camp Practical Profitable Mindset lessons in The Exponential Entrepreneur podcast Connect and Engage Connect directly with Colleen Robinson: www.protectyourfamily.law Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!