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June 5, 2025 16 mins

In this episode of the Wealthy Woman Lawyer® Podcast, host Davina Frederick uncovers five powerful signs that your law firm may have outgrown your current strategy—and that it might be time to call in a seasoned business coach. Are you hitting a plateau despite working harder than ever? Still handling every task yourself and wondering why you're not seeing results? This episode is for high-achieving women law firm owners who know they’re meant for more and are ready to unlock the next level of income, impact, and freedom. Get ready to rethink your systems, sharpen your focus, and discover what’s truly holding you back.

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Episode Transcript

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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 Davina.

Davina (00:50):
Welcome back to the Wealthy Woman Lawyer podcast,
the number one podcast for womenin law who are ready to create
wealth generating law firmbusinesses that result in the
profits, impact, and flexibilitythey've always desired. I'm your
host, Davina Frederick, and I'mthrilled you're here with me
today. You know, over the pasttwelve years of coaching

(01:10):
hundreds of women law firmowners, I've identified some
very specific patterns, warningsigns, if you will, that
indicate when a successful womanlawyer has reached the point
where she absolutely needsstrategic business coaching to
break through to her next levelof growth and freedom. Today's
episode is titled You Might Needa Strategic Business Coach for

(01:32):
Your Law Firm If, and I'm goingto share five key indicators
that suggest it's time to investin the guidance and support for
your law firm's business from anexperienced advisor. But before
we dive in, let me ask you this.
Are you currently making goodmoney in your practice but
feeling like you're running on ahamster wheel? Are you

(01:53):
successful by most people'sstandards, but deep down, you
know you're capable of so muchmore? If so, you're definitely
in the right place today. Let'sget right to it. As I share
these indicators, I want you tobe truly honest with yourself
about where you are in your lawfirm journey right now.
Indicator number one, yourrevenue has plateaued and you

(02:14):
can't seem to break through tothe next level. The first sign
you might need a strategicbusiness coach is when your
revenue has flatlined. Perhapsyou've been maintaining the same
annual revenue for two, three,or even five years. You might be
making $200,000 5 hundredthousand dollars or even
$800,000 annually, but you justcan't seem to break through to

(02:35):
that next milestone. Here's whatI see happening.
You're working incredibly hard,probably harder than ever, but
your revenue isn't reflectingthat effort. You might even be
telling yourself, Well, at leastI'm consistent. But consistency
without growth is stagnation indisguise. The truth is, revenue
plateaus happen when you'reusing the same strategies that

(02:58):
got you to your current level,but you haven't developed the
new skills, systems, or mindsetrequired for the next level. I
promise you this what got youhere will never get you there.
Something more than hard work isneeded. Here's an example of
what I mean. One of my clientswas stuck at around $650,000 in
annual revenue for three years.She was working sixty hour

(03:22):
weeks, handling most of theclient work herself, and
constantly stressed about cashflow. She thought the answer was
just working harder or taking onmore cases.
However, the real issue was thatshe had reached the limit of
what one person can accomplishalone. She needed to learn how
to leverage resourcesstrategically, which is exactly

(03:43):
what we worked on together.Within less than twelve months,
she broke through the 7 figuremark. If your revenue has been
stuck in the same range for morethan a year, that's your first
indicator that you may needstrategic guidance to break
through to your next level.Indicator number two, you're
doing everything yourself andcan't figure out how to
successfully delegate.

(04:05):
The second indicator is when youfind yourself saying things
like, It's just easier if I doit myself, or By the time I
explain it to someone else, Icould have already finished it.
Sound familiar? This is theclassic trap of the high
achieving woman lawyer. You'reincredibly competent. You
wouldn't have gotten where youare if you weren't.
But that competence has becomeyour prison. You've become the

(04:26):
bottleneck in your own business.Here's what's really happening.
You don't trust your systemsbecause you don't have robust
systems. You don't trust yourteam because you haven't
invested in hiring the rightpeople and training them
properly or in developing yourown leadership skills.
And you don't trust the processbecause you've never learned how
to create processes thatactually work. The result,

(04:48):
you're working in your businessinstead of on your business.
You're the highest paidadministrative assistant,
paralegal, and marketingcoordinator in your firm. And
while you might be making decentmoney, you're trading your time
for dollars in a way that has avery clear ceiling. I remember
working with a brilliant estateplanning attorney who had built
a successful practice, but waspersonally handling everything

(05:12):
from client intake calls toscheduling to document review.
She was making good money, butshe was exhausted and couldn't
take a real vacation without herphone constantly ringing. The
breakthrough came when sherealized that delegation isn't
about finding people to doprecisely what she was doing. It
was about creating systems andtraining that allowed others to

(05:32):
handle tasks to her standards.Once she learned how to
prioritize her time properly,document her processes, and
delegate to top talent, she notonly got her life back, she also
increased her revenue by 40% inthe first year because she was
finally focusing on theactivities that only she could

(05:54):
do. If you're still wearing allthe hats in your firm and can't
seem to get tasks off your platesuccessfully, That's indicator
number two.
Indicator number three, youdon't have a clear systematic
approach to attracting yourideal clients. The third
indicator you need a strategicbusiness coach is when your

(06:15):
client acquisition isinconsistent or you're
attracting clients who aren'tthe right fit for your firm.
Maybe you're getting clients,but they're the ones who haggle
over your fees, question yourexpertise, or demand your
attention at all hours. Orperhaps your marketing efforts
feel scattered. You're postingon social media sporadically
attending networking eventswithout a clear strategy or

(06:38):
relying solely on referralswithout a systematic way to
generate new business.
And here's the thing, hoping andpraying for good clients to find
you is not a marketing strategy.Neither is being on every social
media platform just because youthink you should be. What you
need is what I call a strengthsbased marketing approach, a

(06:59):
systematic way to assess yourunique advantages, monetize your
message so it speaks directly toyour ideal clients, and activate
your audience so they choose youover your competitors. I worked
with a family law attorney whowas frustrated because she was
attracting clients who couldn'tafford her services or who were
extremely demanding andchallenging to work with. She

(07:21):
was spending hours on socialmedia with little to show for it
and felt like she was constantlycompeting on price.
Everything changed when wedeveloped her strengths based
marketing approach. Weidentified what made her
uniquely valuable, craftedmessaging that attracted her
ideal clients, and created asystematic approach for reaching

(07:41):
them. Within six months, she hada waiting list of ideal clients
who were happy to pay herpremium fees and respected her
expertise. If you don't have aclear, systematic approach to
consistently attracting clientswho value your expertise and pay
you well, that's your thirdindicator. Indicator number
four, you have no idea what yourkey performance indicators are

(08:04):
or how to use financial data tomake strategic decisions.
The fourth indicator is probablythe one I see most often among
successful women lawyers. You'remaking good money, but you have
no idea how to read andinterpret your financial reports
or track the metrics thatactually matter for growing your
business. Maybe when someoneasks about your financials, you

(08:27):
make a joke like, That's why Ibecame a lawyer instead of an
accountant. But deep down, youfeel embarrassed that you don't
understand the numbers in yourown business. Or perhaps you
know your gross revenue, but youhave no idea what your profit
margins are, what your averageclient value is, or how much it
costs you to acquire a newclient.
You might not even know if youhad a good month or a bad month

(08:49):
until your accountant tells you.Here's the truth, if you made it
through law school and passedthe bar exam, you can absolutely
understand business math.However, you need to understand
which metrics truly matter andwhat they mean for your business
decisions. I've identified 62key performance indicators that
matter to law firm businesses,but you don't need to track all

(09:11):
of them. There are 10 must trackKPIs regardless of your firm's
size and three that I considercritical.
When you don't understand yournumbers, you're essentially
flying blind. You can't makestrategic decisions about
hiring, marketing, or pricingbecause you don't have the data
to support those decisions.You're running your business on

(09:32):
gut instinct instead of solidfinancial intelligence. I had a
client who was generating over$900,000 annually, but had no
idea she was actually losingmoney on certain types of cases.
She was working incredibly hard,but not profitably.
Once we implemented proper KPItracking and financial analysis,

(09:54):
she was able to eliminate theunprofitable work and focus on
the clients in cases that wereactually generating wealth. Her
take home income increased by60% while working fewer hours.
If you can't confidently discussyour firm's financial
performance, or you don't knowwhich metrics to track for
strategic growth, that'sindicator number four. Indicator

(10:17):
number five, you don't have aproven framework or roadmap for
scaling to multiple sevenfigures. The fifth and final
indicator is when you know youwant to grow your firm to seven
figures or beyond, but you haveno clear roadmap for how to get
there.
Maybe you've read businessbooks, attended a few
conferences, or even triedimplementing some strategies you

(10:39):
found online, but nothing seemsto stick. You feel like you're
taking random actions without acohesive plan. Or perhaps you
look at other successful lawfirm owners and wonder, How did
they do it? What's their secret?You might even feel like
everyone else has figured outsomething you haven't.
The reality is that scaling alaw firm to multiple 7 figures

(11:01):
isn't about luck or workingharder. It requires a proven
framework, a systematic approachthat addresses every aspect of
building a wealth generatingbusiness. Most women lawyers try
to piece together their growthstrategy from multiple sources a
marketing tip here, a hiringstrategy there, a financial tip

(11:23):
from someone else. But without acomprehensive framework that
integrates all these elements,you end up with a patchwork
approach that doesn't createsustainable, scalable growth.
What you need is a completesystem that helps you cultivate
the right mindset for wealthcreation, attract better clients
consistently, leverage yourresources strategically, and

(11:46):
master the financial side ofyour business.
These elements need to worktogether seamlessly. I've seen
too many brilliant women lawyersstruggle for years because they
were trying to figure it out ontheir own, using trial and error
instead of following a provenpath that others have
successfully walked before them.If you don't have a clear,

(12:07):
proven framework for scalingyour firm to the level you
desire, that's your fifthindicator that you need
strategic business coaching.Now, if you're listening to this
and you recognize yourself inone or more of these indicators,
I want you to know that you'renot alone. And more importantly,
it's not your fault.
The skills they taught you inlaw school, thinking like a

(12:29):
lawyer, legal research, briefwriting, those are essential
skills, but they don't teach youhow to build and scale a
business. You aren't supposed toknow this stuff intuitively. But
here's what I know about you.You're ambitious, you're
capable, and you're ready formore. You didn't build a
successful law practice just tostay where you are forever.

(12:50):
You have bigger goals, biggerdreams, and a bigger impact you
want to make. The question is,are you going to keep trying to
figure it out on your own? Orare you ready to follow a proven
roadmap that has already helpedhundreds of women law firm
owners create the wealth,impact, and freedom they
desired. Speaking of provenroadmaps, I want to invite you

(13:12):
to join me for a very speciallive training that I'm
presenting on June 12 at 11AM,Mountain Daylight Time. It's
called the Wealth Generating LawFirm Business five Secrets to
Create the Profits, Impact, andFlexibility You Desire.
In this live masterclass, I'mgoing to share the five biggest
mistakes that keep women lawfirm owners from creating a

(13:35):
wealth generating business, andmore importantly, the secrets to
fixing them. We'll dive deepinto the exact framework that
has helped my clients scale from6 figures to multiple 7 figures,
create the flexibility to takeextended vacations without
worrying about their firmfalling apart, and build the
kind of wealth that createsgenerational impact not only for

(13:57):
your own family, but for othersin your community. I'll also be
sharing real case studies frommy clients who have achieved
these results so you can seeexactly how this framework works
in practice. This is not genericbusiness advice that may or may
not apply to law firms. This isspecifically designed for women
law firm owners who are seriousabout growth and ready to take

(14:20):
action.
And because this is a livetraining, you'll have the
opportunity to ask questions andget personalized guidance on
your specific situation. Now, Ido want to mention that this
training is not for everyone.It's specifically designed for
women who are licensedattorneys, own their own firms,

(14:41):
or plan to open one soon, andare committed to exceeding their
current level of income, impact,and freedom. If that describes
you, then this Masterclass willbe incredibly valuable. To
secure your spot, simply go tohttps:wwwealthywomanlawyer.convertri.comjuneoptin

(15:05):
and register for the June 12live training.
You can also find this link inthe show notes. Registration is
completely free, but spots arelimited to ensure that everyone
who attends receives theattention and value they
deserve. Before we wrap uptoday, I want to leave you with
this thought. Every day youdelay investing in the right

(15:26):
guidance, systems, strategiesfor your law firm is another day
you're missing out on thecompounded benefits of growth.
It's not just about this year'srevenue or next year's profits.
It's about every year goingforward. It's about the
vacations you're not taking, thetime with family you're missing,
the wealth you're not buildingfor your future. The women law

(15:48):
firm owners who achieve the kindof success and freedom you
desire, They all have one thingin common. They invested in
themselves and their businessesbefore they felt ready. They
took action when they recognizedthey needed guidance, not after
they spent decades trying tofigure out everything out on
their own.
You have everything you need tocreate the law firm business of

(16:12):
your dreams. You have theintelligence, the skills, and
the determination. What you neednow is the right roadmap and the
right support. I hope to see youon June 12 for the Wealth
Generating Law Firm BusinessMasterclass. Until then, keep
building your legacy and thankyou for being a part of the
Wealthy Woman Lawyer community.

(16:32):
We appreciate you.

Intro (16:34):
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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