A Lawyer's time is his currency

Abraham Lincoln is reported to have said, "A lawyer's time and advice are his stock in trade." So why is it that so many sole practitioners that I consult with in my coaching business seem to be lost? Almost every day I speak with a sole practitioner who makes some assertion such as I just can't afford a secretary. So they spend their most precious commodity at their time, doing the least valuable tasks in their law office. You know the tasks that I'm talking about. Answering routine client questions, giving directions to prospects, ordering office supplies, typing correspondence, preparing routine pleadings, writing checks, going to the post office, paying bills, surfing the Internet and so on.

One of my mentors is a very smart marketer by the name of Dan Kennedy. Dan is probably about 55 years old and he has the art of time management down to a science. So much so that he has figured out that he lives to a predetermined age (I think he has it figured out to 80 years old) that he only has a certain amount of time left in his life. He even has a giant clock counting down to the end of his life. His point is not to be morbid or bizarre but to provide himself a constant reminder to not allow anyone waste his time and he doesn't.

His point is well taken. We all know we aren't going to be around forever, so why do we waste so much of our own time? My theory is because it's just so much easier to do the "other" stuff than to do the stuff that we know is most important. Focus can be difficult but it is achievable. What is the highest, best use of your time? Of your special and unique talents? The answer to this question holds the key to your ultimate success.

There is no such thing as "free time." There is leisure time but as I just said above, we all are limited by the amount of time we have on this planet, so we'd better make the best of it. All time has value. Think about it. As honest Abe said, all we have as lawyers is our time. If you fail to focus on what's important and more importantly, most profitable than you a committing what I believe to be a grave sin. You are wasting your potential. Your stubborn inability, or worse, lack of discipline to prioritize your professional life and professional time is costing you money. A lot of money. If you don't care, think about your families. If you would just take the time to reflect on the best, highest use of your time what would it mean to them? Would you be able to work less? Maybe. Would you be less stressed if you had more money? Probably. Would your spouse or kids notice? You bet they would.

The way you think about time and think about yourself will affect everything that happens to you for the rest of your life. You have to value your time before anyone else will? So what exactly is your time worth? I'll give the exact answer in my next post. It's really awe inspiring because it's different for everyone.