The 10X Lawyer
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. They used to be called rainmakers. Now they come in all shapes and sizes and mostly end up owning law firms.
The difference between the 10X lawyer and everyone else is mindset. They don’t view their effort as selling their time. They track themselves based on output, not input.
A 10X lawyer doesn’t need to put in 100 hours to make $50k in revenue. Instead, they utilize their unique skillset to bring in that money with 1 hour of effort. Whether it be sales, marketing, networking, technology, or writing, the 10X lawyer accomplishes way more through non-legal skills.
The 10X lawyer does three things to accomplish different results.
1. They understand leverage
Leverage is the key to maximizing value. There are three forms of leverage: labour, capital, and tools. The 10X lawyer at their peak knows how to use all three.
The easiest way to utilize leverage is through technology. The lumberjack with a chainsaw cuts 10X more than the one with the axe. The right tool gets things done faster and leverages your time. What tool do 10X lawyers use? Probably writing and social media to reach a larger network or convince stakeholders of their theory on the world.
A 10X lawyer leverages their time through delegation. They implement processes to replicate best practices. Simple stuff but often overlooked.
2. They get the data + find insights
Data is everywhere but lawyers do not use it. We are trained to use case law and precedents but for some reason the majority of lawyers don’t try to replicate the consultation script that works or the marketing channel thats returning 20X. They confront the brutal facts, find the insight and then attack.
The 10X lawyer knows the numbers and they are constantly optimizing. You don’t need to track their input because their own tracking of their output is so good that you don’t even care how much time they are actually working. Want to find someone who does not have mindset of a 10X lawyer? Look for people who track themselves or others based on the amount of hours they put into any given task.
3. They understand business value
If the 10X lawyer doesn’t already own their firm, then they are the bring in the most business. They understand that their work needs to have business value and their time is valuable and the business value they generate must exceed the cost of the time spent.
It is important not to mistake understanding business value from those who simply generate a ton of billings (i.e., the traditional “rainmaker”). The difference between the 10X lawyer and the old concept of a rainmaker is that anyone can sit at a desk for 18 hours a day and sell their time. Few are willing to do it but there is nothing impressive about this. This is just hard work and hard work is the price of admission. But this person is replaceable. It may hurt your bottom line but if you have the proper system in place then losing this person shouldn’t matter.
The 10X lawyer generates the work for the rest of the lawyers. They bring in more money than you could ever sell at $1,000/hour.
Finding the 10X Lawyer
Chances are you already know who the 10X lawyers are in your network. They are the ones you go to when you don’t have the answers, they are the ones who retain the most clients, they are the ones who can 2X the entire revenue of a firm in a single year.
If you don’t know any 10X lawyers, here is some examples of what they may look like:
They own their own firm and have tons of spare time
They know the numbers and find insights you never thought of
They utilize technology to accomplish more in less time
They delegate the stuff that is of minimal impact
They respect and are good at marketing because it brings in business
You never fully understand how they operate
The 10X lawyer never has to practice law again to make a living. Their soft skills rival their legal skills. Their business skills can be transferred to anything else and they can monetize them.
They can leave at any time so you pay them what they want.. They are lethal because you don’t quite understand how they do it. And they are also smart enough to know how lethal they are.
The 10X lawyer just gets it. All you have to do is show them the path and they will do their thing.