Reader,
Last week, I shared how discovering that running a law practice resembles learning golf more than riding a bike completely changed my approach to helping solo lawyers.
​While you can read more about that here, the difference is that with golf, getting those initial fundamentals right matters infinitely more than with riding a bike.
This insight connects perfectly with Peter Drucker's warning that resonates deeply in today's rapidly changing landscape - and not just solo lawyers.
The greatest danger in times of turbulence is not the turbulence—it’s to act with yesterday’s logic.
The Importance of Financial Mastery
As I implement this philosophy in my own law firm's rebrand, I've re-experiencing the missing piece that prevents most solo lawyers from truly innovating: financial mastery must come first.
Here's the uncomfortable truth: You can dream about innovative client services and cutting-edge legal solutions all day, but if you're constantly checking your bank account before making decisions, true innovation remains impossible.
Financial instability creates a survival mindset.
And in survival mode, you default to what's familiar—"yesterday's logic"—because experimentation feels too dangerous.
You know how your practice "should" improve, but don't have the budget or future cashflow certainty to take the necessary decisions.
This is just one way how your practice can control you rather than the reverse.
The Golf Swing of Legal Practice
Unlike riding a bike, where minor form issues won't prevent you from getting started, your practice's financial foundation resembles golf—where proper fundamentals from day one prevent years of struggle.
I learned this first hand, when for the first three years of my practice, I operated my practice with what I thought was sound financial management.
However then the pandemic hit and then I realized I was actually just managing cash flow, not building true financial stability that would support growth.
I worry that we are in one of those periods again.
Money Clarity Workshop
​That’s why I’m conducting a Money Clarity workshop on April 2, 2025.
This isn't about complex accounting - this hands on workshop is about
- Building financial systems that support your life goals, not just your business overhead
- Leveraging intelligent pricing models that create more freedom
- Designing a sustainable profit plan that allows for innovation
Here’s a one 1 minute tidbit from our workshop focused on three considerations profit should be measuring for a business set up for long term success.
​If your practice is not generating enough profit to serve all three purposes, then join us for the Profit Planning Workshop on April 2nd where we’ll create your customized framework for financial mastery - the foundation of true practice innovation.
Remember - you don’t need to unlearn poor financial habits if you build proper systems from the start. That’s exactly what we’ll help you do on April 2nd.
Looking forward to helping you master the financial “golf swing” of your practice,
Romesh