Growth requires three things: tracking, analysis, and execution; in that order. To grow fast, add capital. This is how growth is accomplished in practice, but most do not grow because of psychology.
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In technology, there is the legend of the 10X software engineer.
This engineer works less and accomplishes more. They are 10X better than the average engineer because they deliver more value and do so faster than a team of other engineers.
The 10X lawyer also exists.
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As attorneys, our time is a commodity. The specific knowledge and skillset we possess is valuable. We spent years acquiring it, and use it to provide a timeless value to the public. You should not waste it on tasks that do not deserve the disproportionate consumption of this resource.
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It does not matter how many systems we implement or processes we optimize if a single metric is out of whack: collection rates. In other words, the amount of money you collect on hours billed.
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Socrates said that the unexamined life is not worth living. While living a life or running a business with unexamined data is still worth doing, its potential certainly is limited.
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Since the introduction of the internet as a means to share knowledge and communicate, we have seen major paradigm shifts in established industries ranging from financial services, news, entertainment, and politics. Interestingly, as these systems evolve as do the sources of their democratization. Law has not.
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Ray Dalio outlines a five-step process for success in his book “Principles” where he intelligently outlines that the practical process of getting what you want out of life. This can also be applied to utilizing imposter syndrome.
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