Today’s tip is about time. But maybe not time as you’ve been accustomed to thinking about it in your practice. Instead of thinking about time as a commodity that you sell, I want you to think about time as a gift. Want to watch this tip instead? 

When we sell time, which is what we do when we bill by the hour, we naturally value everything we do based on (1) how much time it takes us and (2) what someone will pay us for that time.  

The result? We don’t attribute as much value to time that no one is paying us for. Instead of thinking about “spending” or “investing” time, we think in terms of “wasting” time.  

Depending on your practice, the CoViD crisis may mean you have a lot less billable client work to do. If no one is paying you for your time anymore, does that mean your time is intrinsically less valuable? No. Not if you look at time as a gift that you make to yourself and your business. Look at it as an “investment” if that’s easier for you to justify. 

Take time now to do things in your practice that you haven’t made time for before 

I ran a process mapping session by video conference last week. We’ve been meaning to try it for ages. The lawyer wasn’t paying for it (it will be broadcast as part of the LawyerForward Virtual Conference), but for her and for me, it was hugely valuable.  

She got new insight into her process and will be making immediate changes that will improve her margins.  

I got to (1) help a lawyer see her practice differently and (2) try out a new way to serve our clients. We now know that it works. The online session delivered the value we thought we could only deliver with in-person sessions. We are going to tweak the method and offer it more widely, so stay tuned! 

How can you invest time? 

If you have extra time right now (and I’m not assuming you do—many of us are busier than ever—but if you do), consider investing that time in your practice.  

Ask yourself what’s taking longer than it should or seems harder than it should. Look at your processes. Ask yourself what you could do differently.  

We run webinars and workshops regularly on this and other practice management topics. Join our mailing list and we’ll make sure you get advance notice of all our upcoming sessions. Just complete the form below!

Launching Matter Management Masterclass 

Finally, if you’re looking for better ways to manage your practice, with less stress and less effort, consider our Matter Management Masterclass. It’s a 2-hour course that teaches an easy, visual method to track files, allocate work, and stay on time and on budget. The blended online program including video lessons, a workbook and guides, plus online group coaching.  

Masterclass Special Offer 

I promised you something special if you invested the time to stay with me until the end. Here it is: we’re launching the on-demand version of the Masterclass this week and we’ve added a VIP option that includes private coaching. Email me for the coupon code. The first 10 people to sign up with the coupon will receive the VIP option (personal coaching) for the price of the regular course. Send me an email at [email protected] with “Masterclass Coupon” in the subject line. 

We all have a finite amount of time in a day. Investing time in our businesses is never a waste…even if it’s time that clients don’t pay for.  

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