Use Your Money To Buy Time

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wyers are not good at investing in the help they need. If entrepreneurial lawyers spent more of their hard-earned money on getting help (or buying their way out of negative experiences) they will:

  • Grow their law firms faster 
  • Have more money, impact and freedom
  • Feel happier

I also believe that in life we should play to our strengths, and automate and delegate everything else.

Things that are important to me: being close with my family, hanging with friends, taking care of my body, travelling, connecting with growth-minded entrepreneurs, being creative, adding value to my audience, and solving problems that will make a mark on my community and the world.

The way I make time to do these important things is to trade my money for time, and then invest my time on these important things. 

Here’s a quick list of how I trade money for time:

  • Housekeeper
  • Assistant
  • Hiring a rockstar team
  • Grocery delivery service
  • Meal planning and delivery service
  • Hairdresser
  • Travel agent
  • Business coach
  • Personal trainer

I could do a whole blog post on the people I hire to help me, but that’s not the point. The point is that you need to look at where you’re investing your money and time – at work and outside of work. There’s no point in running a successful law firm if you’re burnt out and don’t have the time or energy to do what matters most to you.

My time is spent hanging out with family and friends, taking care of myself or working. That’s it peeps. People might think that I’m lazy or bougie or I waste money. But they don’t understand that I only work on and do things that are in my zone of genius and will act as a force multiplier to create value. Value in my life as a legal entrepreneur means relationships, wealth and self-care. Anything else is a distraction and a waste of my time. I look at “investing” as investing my money in myself or in other people.

Just so you know, I haven’t always been this way. For many years I did everything myself and got burnt out. Over the past few years, I’ve really changed things around in my life to have more time. As a result, I’ve been more present, focused and effective …. and I’m having way more fun.

Earlier this month I did a time study along with my Scale Up clients. A time study is where you write down everything you do each day – both at and outside of work. You then value each task as a $10, $100, $1,000 or $10,000 task. You then look at how you can get $10 and $100 tasks off your plate. You also become hyper-aware of:

  • When you have the most energy.
  • When you’re the most distracted.
  • When you’re trying to focus on too many things at once.

The time study is incredibly eye-opening and one of the most important things you can do to scale your law firm. By the end, you’ll see a number of opportunities to automate, delegate and be more productive.

So, instead of investing your money in stuff, I recommend you look for opportunities to invest more of your money to free up your time for what matters most. We don’t need more stuff. We need more time.

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