REPLAY - Never Too Late for Succes

We set business goals at the beginning of the year with every intention of meeting them. But life can get messy and this year things got VERY messy. In today’s episode I am going to teach you three strategies you can use to get your business back on track. These are concrete strategies that you can not only use right away but you can work on RIGHT NOW as I outline them for you.

In this episode we discuss:

• What to do when you find yourself off course from making your goals due to unplanned challenges out of your control, such as covid.
• The importance of knowing your numbers when evaluating your business.
• How your reaction to unplanned challenges can impact business outcomes.
• Taking personal responsibility for your choices as they influence and contribute to outcomes going forward.
• Owning control over the things that you can control.
• Taking stock of your mental health and mindset.
• Asking yourself how you have maintained or changed your standards to adjust to a changed workplace.
• The impact PPP loans may have on your tax bill due to be paid next year.
• How there’s still time for an amazing fourth quarter with the right course corrections.

 

Bio:

Allison C. Williams, Esq., is Founder and Owner of the Williams Law Group, LLC, with offices in Short Hills and Wall Township, New Jersey.  She is a Fellow of the American Academy of Matrimonial Lawyers, is Certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney, and is the first attorney in New Jersey to become Board-Certified by the National Board of Trial Advocacy in the field of Family Law. Ms. Williams is a member of the New Jersey Board on Attorney Certification (NJBAC) – Matrimonial Committee, a New Jersey Supreme Court committee that determines eligibility of candidates to be certified as a recognized practitioner in the field of matrimonial law.

Ms. Williams has been named a Rising Star Attorney by the New Jersey Super Lawyers franchise continuously from 2008 – 2013, and has been named a Super Lawyer by that organization for 2014 – 2019. In 2016, she was featured in the Super Lawyers publication (Williams v. The Rubber Stamp), she has been named one of the Top 50 Women Super Lawyers in New Jersey from 2017-2019 and in 2019, was voted in the Top 100 Super Lawyers in the State of New Jersey.

Ms. Williams is an accomplished businesswoman. In 2017, the Williams Law Group won the LawFirm500 award, ranking 14^th of the fastest growing law firms in the nation, as Ms. Williams grew the firm 581% in three years. Ms. Williams won the Silver Stevie Award for Female Entrepreneur of the Year in 2017.  In 2018, Ms. Williams was voted as NJBIZ’s Top 50 Women in Business and was designated one of the Top 25 Leading Women Entrepreneurs and Business Owners. In 2019, Ms. Williams won the Seminole 100 Award for founding one of the fastest growing companies among graduates of Florida State University.

In 2018, Ms. Williams created Law Firm Mentor, a business coaching service for lawyers.  She helps solo and small law firm attorneys grow their business revenues, crush chaos in business and make more money.  Through multi-day intensive business retreats, group and one-to-one coaching, and strategic planning sessions, Ms. Williams advises lawyers on all aspects of creating, sustaining and scaling a law firm business – and specifically, she teaches them the core foundational principles of marketing, sales, personnel management, communications and money management in law firms.

She received her B.S., magna cum laude, and her M.S., summa cum laude, from Florida State University. She received her J.D., cum laude, from Syracuse University College of Law.

Snip-Its:

00:17:21 (47 Seconds)

Almost instinctually, we go to the mindset of if something is happening in the external world, we have no choice but to accept the ramifications of that in our law firm. And many times that is not true. Many times we are making choices that have adverse consequences for our business and if we were to make a different choice, the consequence would be different. And so you have to start thinking about what exactly is the cause of the current circumstance that you're experiencing in your business, whether it's an uptick or a downward slide in business. Where did that come from and what are all the pieces that contributed to that so that you can start making different choices to change the outcome that you're experiencing.

 

00:35:57 (43 Seconds)

There are ways for you to keep the standard the same in terms of production, but allow for some modification of what will actually be produced, meaning if I don't have the work to give to a client, I could give the work into a marketing initiative or I could give the work into a system for the firm, or I could give the work into, you know, pouring into the cultural morale, depending on how high your standards are. Ultimately, that will dictate whether or not your standards should be modified. But if there's a modification, the modification should be a revamping of your structure and it ought to have very clearly defined parameters around it. It should not be simply a wholesale walking away from the standards that you created.

 

00:41:31 (19 Seconds)

But your goal is to be fully educated and to make decisions that are best for your business based on your business metrics and separating your emotional connection to those decisions from the analysis. And this is where taking stock of yourself and why you are doing what you were doing is very important.