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If you believe that success leaves clues, you’re in the right place. Welcome to The Successful Lawyer Podcast where we will interview the top successful lawyers and influeners in the legal profession. Hosted by the CPA for Lawyers, Larry Weinstein, we will be pulling back the curtain to discover their proven growth strategies including their mindset for success, marketing strategies, tactics, tools, and hacks. Larry Weinstein is a CPA, author, and consultant based in Houston, Texas and is kn ...
 
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I remember when I got out of surgical training and started my new life as an adult (at 33 years old), I was terrified by anything related to audits or legal issues. Any time I got a letter from the IRS about anything, I broke out into cold sweats. Every time I got a letter from an attorney I would do the same—-even though most of those letters were…
 
One of the secrets to my own success as an investor has been to involve myself into a variety of tribes. What I mean by that is that I am around other intelligent, successful people who have a wealth of experience collectively as investors. For me, that has resulted in introductions to people with whom I have partnered over the years and who have m…
 
The US tax code is thousands of pages long. What could it possibly have to say for that many pages? Well, as it turns out, only a very small fraction of the pages are devoted to how much you are taxed. The majority of the tax code provides for ways you can potentially pay less tax. You see, the tax code is nothing more than a series of incentives. …
 
This week’s episode features a discussion with Ian Kurth—radiologist and highly sophisticated investor. Ian is a member of and one of its major assets. He is doing exactly what, in my opinion, every high-paid professional ought to be doing. He has really transformed himself into a sophisticated investor and thought leader on personal finance for ou…
 
If you have been ignoring distributed ledger technology, you will regret it if you don’t start paying attention. I understand why people get suspicious of the space. The cryptocurrency ecosystem is full of scammers and hype. Talk of “lambos” and “mooning” can hardly be taken seriously by sophisticated investors. But amidst the din, lies technology …
 
I’m always fascinated by stories of entrepreneurs showing early signs of interest in the world of business as children. Warren Buffett was apparently inspired by a book he checked out from the Omaha library at the age of seven called: One Thousand Ways to Make $1000. He went on to pursue several childhood business ventures such as selling gum and C…
 
In case you didn’t notice, we are in the middle of a massive cryptocurrency bull market. We haven’t been here since 2017 and who knows how long it will last. For those of you with solid positions, enjoy the run but don’t get greedy! I certainly learned my share of lessons from the last cryptocurrency bull run. I could have come away from it with a …
 
What gives something value? Gold has been considered valuable since ancient civilization. It has been used as money, as a store of value, and as jewelry. Gold is also scarce and it is not easy to mine. But…at the end of the day, gold is valuable because of a social construct that says it is and that it will continue to be going forward. The longevi…
 
The alternative investing podcast ecosystem is full of doom and gloom. It’s always that way. Any time we get out of a recession and the economy gets a little hot, everyone’s calling for the zombie apocalypse. They tell you to prepare for the worst because the zombies are coming. Start growing your own food and buy lots of precious metals. Because, …
 
Starting a business on your own without using systems to grow and automate processes is not sustainable. Allison Williams, who is now a Business Coach at Law Firm Mentor, once tried to be her own staff. She was her own secretary and lawyer for six weeks until one day; she woke up a quarter inch away from a guard wall while driving 90 miles an hour …
 
“Everyone has a plan until they get punched in the mouth.” -Mike Tyson Life is full of surprises…both good and bad. The last 12 months were, to say the least, unexpected. Everyone has a different story. Hundreds of thousands of people died from Covid-19 and left even more people behind to mourn their loss. Businesses closed, people lost jobs and so…
 
Value is a social construct. Things have value because we, as a society, agree that they are valuable. That is the only reason that gold has the value that it does. Yes, it has unique metallic qualities and it is scarce, but there is no intrinsic quality that gives it the value it has in society. We have collectively assigned that value to it. And …
 
With so many lawyers out there these days, it is pretty hard to build your authority and gain the trust of potential clients. However, Justin Stivers found a way to make his practice different and more respected than others: by providing marketing resources containing valuable information. Justin sits down with Larry Weinstein, CPA to share how he …
 
I am not an economist but I do recognize the importance of understanding a little bit of macroeconomics to guide me as an investor. After all, financial markets don’t move in a vacuum. They are affected by all sorts of things including monetary and fiscal policy. As a reminder, monetary policy is dictated by the Federal Reserve. Essentially, they h…
 
What makes up an excellent and working team? More than effective money-making strategies and a proper target audience, everyone can benefit by being clear with their core values and actually realizing them. Joining Larry Weinstein, CPA is personal injury lawyer Christopher Nicolaysen of Springs Law Group to share how they came up with strong team-b…
 
Life is not long enough to take advantage of the wisdom that comes with age. It’s really kind of a cruel joke of nature if you think about it. You get smarter as the rest of your body becomes less functional and closer to death. This phenomenon really needs to be experienced in order to be believed. I recall listening to a young syndicator recently…
 
For justice to be truly accessible, we need more lawyers to offer low-cost options to their clients. Colorado criminal defense lawyer, Justie Nicol excels in devising some of these for her clients. Specifically, she has created a flat fee billing system that offers free consultation and a number of options based on what a particular client needs. N…
 
Practically every lawyer knows the value of referrals, but not every one of them understands how to create a referral strategy that works. A big part of that comes from their misunderstanding in what a referral really means. Stacey Brown Randall, the award-winning author of Generating Business Referrals without Asking, joins Larry Weinstein in this…
 
Investing is hard. It’s hard because you have to know what you are doing. But it’s also hard because you have to be tough psychologically and sometimes do things that seem counterintuitive to your own emotions. Believe me, I’m not immune to psychological miscues. At one point, I owned about 100 bitcoin. But, during crypto winter, I needed some liqu…
 
Your business will only be as great as the people in it. However, it can be tough to determine who these people are at the onset because the reality is it’s hard to find good people, most especially during the hiring process. So how do you weed out the bad from those who will help your business thrive? In this episode, Larry Weinstein interviews Mo…
 
A few weeks ago I had my CPA, Tom Wheelwright, on the show to discuss what’s going to happen with taxes in the next year or two under the new administration. Of course, the news was generally bad for high-income earners. Taxes will invariably go up. The idea is that the rich can afford it and they ought to pay their “fair share”. It drives me crazy…
 
Establishing a business starts with your specific goals. But these will remain mere business punchlines unless you work on them, which calls for proper strategic planning. Larry Weinstein, CPA interviews Melissa Shanahan of Velocity Work to share how she helps law firms and attorneys realize that their goals will remain unimplemented without well-t…
 
Nassim Taleb, author of the Black Swan, extrapolates his theories on unpredictable events by suggesting that perhaps the ideal way to allocate your capital is by focusing on the extremes. He says that perhaps the ideal portfolio is one where there is extreme safety on the one hand—US Treasuries for example—and extreme risk and upside on the other. …
 
Growing wealth for yourself is one thing, but growing it to pass on to your family is a different game in itself. Finding the problem among lawyers struggling to do the latter, Larry Weinstein interviews Moshe Amsel, host of the Profit with Law and the Law Firm Growth Summit. Moshe shares how he started helping law firms in creating generational we…
 
It’s been nearly 5 weeks since my Covid diagnosis. The good news is that my brain seems to be back. The bad news is, I still feel about 40 years older than I am. That said, at least the trajectory is in the right direction. And, as many well-meaning people have reminded me as of late, I’m not exactly a spring chicken anymore. Thanks again for all t…
 
Still in the middle of a global pandemic, most of us have already applied and received the PPP loan. On December 21st, 2020, Congress passed a long-anticipated additional round of COVID relief legislation as part of the Bipartisan-Bicameral Omnibus COVID Relief Deal, providing a much-needed stimulus to individuals and businesses due to the economic…
 
Political difference aside, I for one was relieved to see some order restored to the government last week. Whatever policy differences I have with Joe Biden, I believe him to be a man who cares dearly about his country and a man of integrity. As a person who loves this country first above any party, I wish him well and I hope that he can guide us t…
 
The economy is steadily moving towards the subscription model. While unheard of in the law profession, Jess Birken, a solopreneur lawyer at Birken Law Office, is thinking ahead, adopting it into her own practice. In this episode, she joins Larry Weinstein, CPA, to tell us more about it, what she is seeing in the shift towards this model, and why su…
 
I’m still recovering from Covid so please excuse any typos and oddball things I might say. I am actually on steroids that do make people a bit different psychologically. As an update on my progress, I am about 10 days out from diagnosis. Overall I am relatively stable but have been dealing with something that many Covid patients call the cytokine s…
 
Above any product or service, people usually value customer experience the most. Even with great offers, they will probably look for better prospects if their questions or concerns are not entertained. With that in mind, entrepreneurs look into two areas for better customer retention: the intake process and referrals. Larry Weinstein, CPA sits down…
 
For those of you in our accredited , you might have noticed an abrupt cancellation of our real estate webinar last Tuesday conveyed by a cryptic message from my assistant, Madalyn. Well, here’s what happened. Sunday, I went on a hike with my daughter. She is 11 years old and has the lungs of a marathon runner. I do my best to keep up with her. We d…
 
When I just finished surgical residency, I took a job with a cosmetic surgery company for a few months before realizing that I was not employee material. It was a hodgepodge group of surgeons there. Some of us were younger guys who recently finished training and were looking for experience. There were also a couple of older guys who had failed in p…
 
In life, you can either sit and become a victim of your circumstances, or you can take charge of your life. Bill “the Lawman” Umansky is a great believer of the latter. Practicing Personal Injury Law, in addition to running a seven-figure criminal law practice, Bill is passionate about driving his clients to a state of excellent physical and mental…
 
It's time for our next series of "Ask Buck" episodes. It used to be that we just did one of these every few months. But now we get so many questions that it has become a quarterly series! While all of our shows are educational in nature, the nice thing about the "Ask Buck" shows is that material is highly focused on practical information and strate…
 
Your “why” evolves with what’s going on with the world. For Johnnie Finch, the author of Black Lawyer Confidential, it has shifted from simply being able to get cases through with to tackling some of the hardest conversations we need to have about criminal justice. He may be a role model for future successful lawyers, but he is also an unapologetic…
 
What if you were in a 747 jet airplane traveling 500 miles per hour. You could get to where you want to be pretty quickly. But what if you didn’t know where you wanted to end up? Well, then it wouldn’t do you much good to move at 500 miles per hour. In fact, depending on where you ultimately want to end up, it could end up making your journey take …
 
Not many lawyers and law firms really think about seriously marketing their services on social media, but those who do (and do it right) are definitely way ahead in terms of leads and conversions. With FirmFlex, your social marketing needs will be handled by a team of industry experts while you take only five minutes of your day to do your part. He…
 
I am not an oil and gas investor. That’s because I am not incentivized to do so by the tax code. The only time I was really incentivized to do so was before I became a real estate professional. Now with bonus depreciation, every time I invest in real estate, I can deduct the majority of my investment off my yearly income. That’s the beauty of havin…
 
Wealth Formula does, in fact, have a mathematical formula behind it. Wealth=Leverage(MassxVelocity) I believe the key to building your wealth is behind maximizing each one of these variables. Mass is simple. It’s how much money you invest. If you have more money to invest then you are going to create more wealth. Leverage is critical. Despite what …
 
Over the past 20 years, McCready Law has grown into one of the most successful personal injury firms in the Midwest, owning four offices in Illinois and Indiana. Managing partner Michael McCready attributes this success to a three-component marketing formula that would work for any law business, or any other business for that matter – attorney refe…
 
Boring is good. Beware of shiny objects. When it comes to investing, those are the words that I generally live by. When I keep true to this wisdom, I don’t generally lose money. Now that doesn’t mean I have never lost money! Remember, before I became a boring domestic real estate guy, I was a flaming entrepreneur! I acted on every good and bad idea…
 
It’s often hard to quantify the benefits of branding videos to any business – a fact that generally puts off those who are only after instant monetary gain. When you’re playing the long game, however, you would see that it does a lot of miracles in building you a trustworthy brand that clients will veer towards. Personal injury lawyer, Chris Morrel…
 
In 1798 Thomas Malthus published a theory that predicted that human population growth would eventually outpace food production and thereby push living standards backwards. He based this on a simple mathematical observation that human population was growing at an exponential rate while food production growth was linear. While Malthus’ theory was mat…
 
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