Running your own firm is great but it can also be lonely. Being your own boss means that you oversee every aspect of your business. You're the only one worrying about cash flow. You’re the only person responsible for business development. You're constantly thinking about how to streamline your practice and still keep up with the client work. It’s exhausting.

I feel you! It was like that in our business, too. Even though there were two of us, we were just too close to the business to really see it. So we did something about that.

Want to watch this tip instead?

Without external feedback, it can be tough to figure out where to focus your energy and where to make changes. And when you’re solo, without a backstop on decision-making or a sounding board, it’s even harder. That was definitely true for us. We knew we needed a “second set of eyes” on our business. Once we realized this, we both joined small group coaching programs. It has made a huge difference in our profitability, our decision-making, and the value we can deliver to our clients.

So this week’s tip is to get a second set of eyes on your business. It might be a coaching program, or an accountability group, or even a good friend who understands you and your business.

Whichever route you choose, here are 3 ways you’ll benefit:

•  You’ll gain insight from shared experiences

A group gives you the opportunity to work with other people in similar circumstances, many of whom have experienced the same challenges you face.. Their solutions will give you insight into how YOU can manage issues in your own practice.

•  Tackle problems together

Group coaching allows you to leverage the community. You can brainstorm or crowdsource solutions to common problems while benefiting from multiple ideas and varying points of view. Working together also counteracts the loneliness you often experience when tackling problems at your practice alone. 

•  Have a source of support

There’s comfort in numbers. In your group you don't have to be bravest or the smartest. You don’t have to have all the answers all the time. You’ll realize that you're not alone and not only will youbenefit from the insight of your peers, you’ll quickly realize you have knowledge and experience that will help others as well.

Legal professionals who routinely seek out external support report less burnout, achieve results faster, and deliver more value to their clients. Put simply, they’re focused and better able to run their practices efficiently.

Your action item this week is to find that external support—that “second set of eyes” on your practice. It may be a friend or colleague who knows you and your business or it may be a group coaching program like our Practice Accelerator coaching program. There is power in numbers. Use that power to truly accelerate your practice..

And that’s it. Join us next week for more on building a profitable and productive law practice.

Thanks for reading this week’s tip. If you want to learn more, sign up so you never miss a Tip of the Week.