Getting Paid Commandment #3
Alright, we’re up to commandment #3 for getting paid 100% of the work you do as an attorney.
Quick recap. commandment #1: change your mindset about money; commandment #2: bill regularly (at least once per month).
Now, let me tell you, commandment #3 is probably the most difficult getting paid commandment there is.
Commandment #1 is where everything starts (thoughts and beliefs are almost always where change begins), but #3 is really hard for attorneys to implement and stick to.
That said, if you can master this commandment, you’ll be on your way to massive increases in income.
So, here it is, commandment #3: don’t chase money.
What does that mean, don’t chase money?
Chasing money is taking any case that is not in your wheelhouse, doing work you’re not certain you’ll get paid for, or taking or keeping a case because of fear or because of an inflated sense of self.
Let me give you a few examples of what chasing money looks like in the real world:
- Taking cases you don’t normally do because you’re short on new clients and need to get paid.
- Taking a case you know someone can’t really afford because you’re desperate for new clients.
- Doing work on a case when you’re not getting paid.
- Doing work because your client “promised” he’d pay you “next week.”
- Discounting your hourly fee or retainer to convince a client to hire you.
- Giving friends, friends of friends, and family discounts.
- Writing off billable time because you fear your client will fire you if you don’t.
- Taking a personal injury case when you’re a divorce attorney because you know, you just know, you can figure it out and make a bundle of money. I mean, how hard could it be?
- Taking a case even though you’ll be your client’s third attorney in a year.
- Taking a case when your gut whispers to you, “This is not a good idea. Don’t do this.”
How many of those things have you done?
If you’re anything like me, you’ve done them all, multiple times.
(Note: I chased so much money when I started my practice in 2010. I also suffered through sleepless nights, headaches, depression, and weight gain because of those decisions. I didn’t know what I was doing on many cases, and I wasn’t getting paid. It was a disaster.)
If you have done any/all of these things, it’s okay. Your past is your past.
Resolve now that you’ll never chase money again. Look forward to a better future.
Get rid of all your chasing money cases. Unload them, quickly. Find other attorneys who will take them, or be honest with your client and say that you simple don’t think the case is a good fit for you anymore.
When you do this, you’ll free up your time and your brain power to find cases in your wheelhouse that pay 100% for the work you do.
Ultimately, not chasing money is about working less and getting paid more.
And isn’t that what we all want?
