In this solo episode of the Wealthy Woman Lawyer® Podcast, host Davina Frederick dives into a common dream many women law firm owners share: building a business that generates wealth—whether you're in the office or off the grid. She exposes three key mistakes that might be silently sabotaging your chances of running a firm that thrives without your constant presence.
If you've ever imagined a law practice that gives you true financial freedom and the flexibility to live life on your terms, this episode is for you.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Intro (00:01):
Welcome to the wealthy woman lawyer podcast. What if
you could hang out withsuccessful women lawyers, ask
them about growing their firms,managing resources like time,
team, and systems, masteringmoney issues, and more? Then
take an insight or two to helpyou build a wealth generating
law firm. Each week, your host,Devina Frederick, takes an
(00:22):
in-depth look at how to thinklike a CEO, attract clients who
you love to serve and will payyou on time, and create a
profitable, sustainable firm youlove. Devina is founder and CEO
of Wealthy Woman Lawyer, and hergoal is to give you the
information you need to scaleyour law firm business from 6 to
7 figures in gross annualrevenue so you can fully fund
(00:43):
and still have time to enjoy thelifestyle of your dreams.
Now here's Devina.
Davina (00:50):
Hello, and welcome to the Wealthy Woman Lawyer
podcast. I'm your host, DevinaFrederick, and I'm dedicated to
helping women law firm ownersbuild wealth generating
businesses that provide bothfinancial freedom and lifestyle
flexibility. Today's episodetackles a dream many of you
share, creating a law firm thatcontinues to generate wealth
even when you're not physicallypresent. Whether you're looking
(01:12):
to take extended vacations,spend more time with family, or
simply have the option to stepaway without watching your
revenue plummet, this is theroad map you've been seeking.
I'll be sharing the three mostdevastating mistakes I
consistently see women law firmowners make that prevent them
from building a practice thatcan thrive in their absence.
(01:34):
These insights come directlyfrom my twelve years of coaching
successful women attorneys whohave transformed their practices
from owner dependent businessesto wealth generating assets.
Let's dive in. Mistake numberone, not hiring other lawyers.
The first critical mistake isrefusing to hire other attorneys
(01:55):
to support your practice. Iunderstand the hesitation.
Many of you started your firmsto escape environments where you
felt undervalued or restricted.You've built your reputation on
your personal expertise andclient relationships. The
thought of bringing in anotherattorney feels risky. Will they
represent your firm well? Willclients accept them?
(02:17):
Can you afford them? But here'sthe uncomfortable truth: without
other attorneys, your firm'scapacity is permanently capped
at what you personally canhandle. More importantly, if
you're the only lawyer, the firmessentially ceases to function
when you're not working. Wealthgenerating law firms have
leverage. They multiply the firmowner's vision and standards
(02:40):
through carefully selectedattorneys who extend the firm's
capacity to serve clients andgenerate revenue.
One of my clients, a successfulattorney, resisted hiring
associates for years because shewas convinced clients came
specifically for her. When afamily emergency forced her to
take an unexpected three weekabsence, she had no choice but
(03:03):
to bring in a contract attorneyto handle her caseload. To her
surprise, not only did herclients adapt, but many
expressed appreciation for theadditional support. This
unexpected experiment led her tohire two full time associates
and within eighteen months herrevenue had doubled while her
personal workload decreased by30%. When you're the only
(03:27):
attorney, you've built a job,not a business.
A wealth generating law firmrequires a team of legal
professionals who can continueserving clients and generating
revenue, whether you're in ameeting, on vacation, or dealing
with a personal matter. Mistakenumber two: Delegating work and
then taking it back. The seconddevastating mistake is the
(03:48):
delegation dance assigning tasksto team members but then taking
them back at the first sign ofdifficulty. This pattern is
particularly common among highachieving women. You delegate a
task, but when your team memberencounters challenges or
approaches it differently thanyou would, you jump in and
reclaim the work, often with aresigned sigh and the thought is
(04:11):
just faster if I do it myself.
What you may not realize is thatthis pattern creates what I call
learned helplessness within yourteam. They begin to expect your
intervention, never developingthe confidence or skills to
truly own theirresponsibilities. Worse, it
trains them to bring problems toyou rather than developing
(04:32):
solutions. A wealth generatingfirm that operates in your
absence requires team memberswho can function autonomously
and solve problemsindependently. This only happens
when you commit to propertraining, clear expectations,
and then allowing people to workthrough challenges with your
(04:52):
support but not your takeover.
One of my clients, an estateplanning attorney, recognized
she was sabotaging her team'sdevelopment by constantly
reclaiming delegated work. Weimplemented a new approach when
team members encounteredobstacles rather than taking the
work back. She would ask, Whatdo you think we should do here?
(05:12):
Or Where would you go to lookfor the answer if I were not
here? Or Where did you look forthe answer before you came to
me?
She coached them throughdeveloping their own solutions.
Within six months, herintervention in day to day
matters decreased by 70% and herfirm successfully handled a two
week period when she wascompletely disconnected while on
(05:34):
an international vacation,something previously
unimaginable. Remember, everytime you take back delegated
work, you're reinforcing yourindispensability, the exact
opposite of building a firm thatcan operate in your absence.
Mistake number three, thinkingyou personally are the only
solution for your law firm'sclients' problems. The third and
(05:57):
perhaps most insidious mistakeis believing that you personally
are the only solution to yourclients' problems.
This belief often startsinnocently enough. You've worked
hard to develop expertise.You've delivered excellent
results. Clients praise yourwork and refer others. It feels
validating to be the go toexpert, the indispensable
(06:20):
problem solver.
But this mindset creates apsychological and practical
barrier to building a wealthgenerating firm that can operate
without you. When you believeonly you can properly serve
clients, you create systems andclient expectations that
reinforce your centrality toevery matter. Wealth generating
(06:41):
law firm owners recognize aprofound truth. Clients don't
need you specifically. They needtheir legal problems solved
effectively.
Your expertise, approach, andstandards can be systematized,
taught, and replicated by a welltrained team operating under
your guidance. One of my mostsuccessful clients had a
breakthrough when she realizedclients weren't hiring her for
(07:05):
her personal brilliance. Theywere hiring her law firm to
solve their legal problem. Onceshe embraced this distinction,
she documented her approach tocases, trained her team in her
methodology, and establishedquality control systems that
ensured consistent outcomesregardless of which attorney
handled the matter. The result?
(07:26):
Her firm now handles triple thecaseload it did when she was
personally involved in everymatter. She takes multiple
extended vacations yearly withminimal check ins and her net
profit has increased by 150%.This shift isn't just
operational. It's psychological.It requires separating your
identity from your firm'sservices and recognizing that
(07:49):
your most significant valueisn't in personally handling
every matter but in creating thevision, systems, and team that
consistently deliver excellentresults to clients.
So there you have the threedevastating mistakes that
prevent women law firm ownersfrom building wealth generating
(08:09):
practices that can operate intheir absence, not hiring other
lawyers, delegating work, andthen taking it back, thinking
you personally are the onlysolution for your clients'
problems. Avoiding thesemistakes isn't just about
creating a more convenient workarrangement, it's about
fundamentally transforming yourrelationship with your business.
(08:32):
It's about building a genuineasset that generates wealth
whether you're physicallypresent or not. If you're ready
to make this transformation, Ihave an exciting opportunity for
you. For a limited time, I'moffering a replay of my most
popular training, The WealthGenerating Law Firm Business
five Secrets to Create theProfits, Impact, and
(08:53):
Flexibility.
This comprehensive masterclassexpands on the concepts we ve
discussed today and provides apractical roadmap for
transforming your practice intoa wealth generating asset that
serves both your clients andyour lifestyle goals. To access
this limited time replay, clickthe link in the show notes. This
(09:16):
replay will only be availablefor the next few days, so I
encourage you to register today.Remember, building a law firm
that generates wealth in yourabsence isn't just a luxury.
It's essential for creating truefinancial freedom and ensuring
the sustainability of thebusiness you've worked so hard
to build.
Until next time, this is DevinaFrederick reminding you that you
(09:38):
deserve a law firm that worksfor you, not the other way
around. Thank you for listeningto the Wealthy Woman Lawyer
podcast. If you found value intoday's episode, please
subscribe, leave a review, andshare with a friend who could
benefit. And don't forget toregister for the limited time
masterclass replay. Together,we're changing how women
attorneys build wealth andlegacy through their law firms.
Intro (10:01):
If you're ready to create more of what you truly desire in
your business and your life,then you'll want to visit us at
wealthywomanlawyer.com to learnmore about how we help our
clients create wealth generatinglaw firms with ease.
Welcome to the wealthy woman lawyer podcast. What if
you could hang out withsuccessful women lawyers, ask
them about growing their firms,managing resources like time,
team, and systems, masteringmoney issues, and more? Then
take an insight or two to helpyou build a wealth generating
law firm. Each week, your host,Devina Frederick, takes an
(00:22):
in-depth look at how to thinklike a CEO, attract clients who
you love to serve and will payyou on time, and create a
profitable, sustainable firm youlove. Devina is founder and CEO
of Wealthy Woman Lawyer, and hergoal is to give you the
information you need to scaleyour law firm business from 6 to
7 figures in gross annualrevenue so you can fully fund
(00:43):
and still have time to enjoy thelifestyle of your dreams.
Now here's Devina.
Davina (00:50):
Hello, and welcome to the Wealthy Woman Lawyer
podcast. I'm your host, DevinaFrederick, and I'm dedicated to
helping women law firm ownersbuild wealth generating
businesses that provide bothfinancial freedom and lifestyle
flexibility. Today's episodetackles a dream many of you
share, creating a law firm thatcontinues to generate wealth
even when you're not physicallypresent. Whether you're looking
(01:12):
to take extended vacations,spend more time with family, or
simply have the option to stepaway without watching your
revenue plummet, this is theroad map you've been seeking.
I'll be sharing the three mostdevastating mistakes I
consistently see women law firmowners make that prevent them
from building a practice thatcan thrive in their absence.
(01:34):
These insights come directlyfrom my twelve years of coaching
successful women attorneys whohave transformed their practices
from owner dependent businessesto wealth generating assets.
Let's dive in. Mistake numberone, not hiring other lawyers.
The first critical mistake isrefusing to hire other attorneys
(01:55):
to support your practice. Iunderstand the hesitation.
Many of you started your firmsto escape environments where you
felt undervalued or restricted.You've built your reputation on
your personal expertise andclient relationships. The
thought of bringing in anotherattorney feels risky. Will they
represent your firm well? Willclients accept them?
(02:17):
Can you afford them? But here'sthe uncomfortable truth: without
other attorneys, your firm'scapacity is permanently capped
at what you personally canhandle. More importantly, if
you're the only lawyer, the firmessentially ceases to function
when you're not working. Wealthgenerating law firms have
leverage. They multiply the firmowner's vision and standards
(02:40):
through carefully selectedattorneys who extend the firm's
capacity to serve clients andgenerate revenue.
One of my clients, a successfulattorney, resisted hiring
associates for years because shewas convinced clients came
specifically for her. When afamily emergency forced her to
take an unexpected three weekabsence, she had no choice but
(03:03):
to bring in a contract attorneyto handle her caseload. To her
surprise, not only did herclients adapt, but many
expressed appreciation for theadditional support. This
unexpected experiment led her tohire two full time associates
and within eighteen months herrevenue had doubled while her
personal workload decreased by30%. When you're the only
(03:27):
attorney, you've built a job,not a business.
A wealth generating law firmrequires a team of legal
professionals who can continueserving clients and generating
revenue, whether you're in ameeting, on vacation, or dealing
with a personal matter. Mistakenumber two: Delegating work and
then taking it back. The seconddevastating mistake is the
(03:48):
delegation dance assigning tasksto team members but then taking
them back at the first sign ofdifficulty. This pattern is
particularly common among highachieving women. You delegate a
task, but when your team memberencounters challenges or
approaches it differently thanyou would, you jump in and
reclaim the work, often with aresigned sigh and the thought is
(04:11):
just faster if I do it myself.
What you may not realize is thatthis pattern creates what I call
learned helplessness within yourteam. They begin to expect your
intervention, never developingthe confidence or skills to
truly own theirresponsibilities. Worse, it
trains them to bring problems toyou rather than developing
(04:32):
solutions. A wealth generatingfirm that operates in your
absence requires team memberswho can function autonomously
and solve problemsindependently. This only happens
when you commit to propertraining, clear expectations,
and then allowing people to workthrough challenges with your
(04:52):
support but not your takeover.
One of my clients, an estateplanning attorney, recognized
she was sabotaging her team'sdevelopment by constantly
reclaiming delegated work. Weimplemented a new approach when
team members encounteredobstacles rather than taking the
work back. She would ask, Whatdo you think we should do here?
(05:12):
Or Where would you go to lookfor the answer if I were not
here? Or Where did you look forthe answer before you came to
me?
She coached them throughdeveloping their own solutions.
Within six months, herintervention in day to day
matters decreased by 70% and herfirm successfully handled a two
week period when she wascompletely disconnected while on
(05:34):
an international vacation,something previously
unimaginable. Remember, everytime you take back delegated
work, you're reinforcing yourindispensability, the exact
opposite of building a firm thatcan operate in your absence.
Mistake number three, thinkingyou personally are the only
solution for your law firm'sclients' problems. The third and
(05:57):
perhaps most insidious mistakeis believing that you personally
are the only solution to yourclients' problems.
This belief often startsinnocently enough. You've worked
hard to develop expertise.You've delivered excellent
results. Clients praise yourwork and refer others. It feels
validating to be the go toexpert, the indispensable
(06:20):
problem solver.
But this mindset creates apsychological and practical
barrier to building a wealthgenerating firm that can operate
without you. When you believeonly you can properly serve
clients, you create systems andclient expectations that
reinforce your centrality toevery matter. Wealth generating
(06:41):
law firm owners recognize aprofound truth. Clients don't
need you specifically. They needtheir legal problems solved
effectively.
Your expertise, approach, andstandards can be systematized,
taught, and replicated by a welltrained team operating under
your guidance. One of my mostsuccessful clients had a
breakthrough when she realizedclients weren't hiring her for
(07:05):
her personal brilliance. Theywere hiring her law firm to
solve their legal problem. Onceshe embraced this distinction,
she documented her approach tocases, trained her team in her
methodology, and establishedquality control systems that
ensured consistent outcomesregardless of which attorney
handled the matter. The result?
(07:26):
Her firm now handles triple thecaseload it did when she was
personally involved in everymatter. She takes multiple
extended vacations yearly withminimal check ins and her net
profit has increased by 150%.This shift isn't just
operational. It's psychological.It requires separating your
identity from your firm'sservices and recognizing that
(07:49):
your most significant valueisn't in personally handling
every matter but in creating thevision, systems, and team that
consistently deliver excellentresults to clients.
So there you have the threedevastating mistakes that
prevent women law firm ownersfrom building wealth generating
(08:09):
practices that can operate intheir absence, not hiring other
lawyers, delegating work, andthen taking it back, thinking
you personally are the onlysolution for your clients'
problems. Avoiding thesemistakes isn't just about
creating a more convenient workarrangement, it's about
fundamentally transforming yourrelationship with your business.
(08:32):
It's about building a genuineasset that generates wealth
whether you're physicallypresent or not. If you're ready
to make this transformation, Ihave an exciting opportunity for
you. For a limited time, I'moffering a replay of my most
popular training, The WealthGenerating Law Firm Business
five Secrets to Create theProfits, Impact, and
(08:53):
Flexibility.
This comprehensive masterclassexpands on the concepts we ve
discussed today and provides apractical roadmap for
transforming your practice intoa wealth generating asset that
serves both your clients andyour lifestyle goals. To access
this limited time replay, clickthe link in the show notes. This
(09:16):
replay will only be availablefor the next few days, so I
encourage you to register today.Remember, building a law firm
that generates wealth in yourabsence isn't just a luxury.
It's essential for creating truefinancial freedom and ensuring
the sustainability of thebusiness you've worked so hard
to build.
Until next time, this is DevinaFrederick reminding you that you
(09:38):
deserve a law firm that worksfor you, not the other way
around. Thank you for listeningto the Wealthy Woman Lawyer
podcast. If you found value intoday's episode, please
subscribe, leave a review, andshare with a friend who could
benefit. And don't forget toregister for the limited time
masterclass replay. Together,we're changing how women
attorneys build wealth andlegacy through their law firms.
Intro (10:01):
If you're ready to create more of what you truly desire in
your business and your life,then you'll want to visit us at
wealthywomanlawyer.com to learnmore about how we help our
clients create wealth generatinglaw firms with ease.
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