Hello all:
This is my second post on this forum. All I can say is that I read Millionaire Fastlane , and my mind was blown. I do wish I had read it ten years earlier, but I am grateful that I did not read it ten years later.
A bit about me: I have a legal and consulting business with about 8 clients. I have worked for and represented some pretty big companies in the entertainment space.
However, I am stuck in the slow lane in a very big way. In my legal business, I am just billing by the hour - literally violating the commandment of time. In my consulting business, I receive the same amount of money every month regardless of the amount of work I do, but my clients want to speak with me only (not an employee of mine). So I need to start thinking about how to get out of the slow lane, while at the same time retaining my current income. This is not an easy task. Millionaire Fastlane opened my eyes, but now I need to start applying the knowledge.
Since my first post, I have been essentially racking my brain, and I have come up with some options of how to do this. I wanted to share them and see if any of you had some feedback:
Options of pathways forward:
1. Try to scale my existing legal business. I am not exactly sure what the right way to do this is, however. Right now it's just me. I have seen examples of people who hire other lawyers to work under them, but as long as the firm is working on an hourly billing model, it never really works. There would need to be some way to make the business model more scalable.
2. Go into a different field of law and spend more time on those types of cases, which work on a contingency basis.
3. Start a new business altogether, and basically hire someone to do the work of starting it. The problem with this is that based on the amount I work already, it may be difficult to do this. I am not afraid of hard work, however. So if this is the best pathway forward, I will do that. I was thinking some kind of online business.
4. Create an online course. I could create an online course with the knowledge I have received so far in my career, and see how that goes.
5. Go into talent management. This indirectly touches the law of affection. The problem with this is that it can be very difficult to find the right talent to manage. Can take a lot of time, and there is limited control because you are always at the mercy of the artists.
Sorry for the length of this post. I am really just trying to figure all this out.
This is my second post on this forum. All I can say is that I read Millionaire Fastlane , and my mind was blown. I do wish I had read it ten years earlier, but I am grateful that I did not read it ten years later.
A bit about me: I have a legal and consulting business with about 8 clients. I have worked for and represented some pretty big companies in the entertainment space.
However, I am stuck in the slow lane in a very big way. In my legal business, I am just billing by the hour - literally violating the commandment of time. In my consulting business, I receive the same amount of money every month regardless of the amount of work I do, but my clients want to speak with me only (not an employee of mine). So I need to start thinking about how to get out of the slow lane, while at the same time retaining my current income. This is not an easy task. Millionaire Fastlane opened my eyes, but now I need to start applying the knowledge.
Since my first post, I have been essentially racking my brain, and I have come up with some options of how to do this. I wanted to share them and see if any of you had some feedback:
Options of pathways forward:
1. Try to scale my existing legal business. I am not exactly sure what the right way to do this is, however. Right now it's just me. I have seen examples of people who hire other lawyers to work under them, but as long as the firm is working on an hourly billing model, it never really works. There would need to be some way to make the business model more scalable.
2. Go into a different field of law and spend more time on those types of cases, which work on a contingency basis.
3. Start a new business altogether, and basically hire someone to do the work of starting it. The problem with this is that based on the amount I work already, it may be difficult to do this. I am not afraid of hard work, however. So if this is the best pathway forward, I will do that. I was thinking some kind of online business.
4. Create an online course. I could create an online course with the knowledge I have received so far in my career, and see how that goes.
5. Go into talent management. This indirectly touches the law of affection. The problem with this is that it can be very difficult to find the right talent to manage. Can take a lot of time, and there is limited control because you are always at the mercy of the artists.
Sorry for the length of this post. I am really just trying to figure all this out.
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