What They Didn't Teach Us About Running a Business in Law School

With
Sam Mollaei
and
Neil Tyra

Tyra_LawEntre_Final_Bug-half-2

Do you ever feel like what you learned in law school didn't prepare you for the world of running a law practice? Law school didn't teach us how to start our practices the right way so we could scale them into a thriving business. We didn't learn how to make sure that our businesses would meet our financial goals and provide the type of lifestyle we deserve. After ten years, I was fed up with struggling in my practice and decided to begin a journey to scaling a

successful practice that would actually allow me to finally live the life I've always dreamed of. I invite you to listen in on the conversations I'm having with some of the most successful solo and small firm practitioners  along with leading business entrepreneurs and share how I am implementing what I am learning. All with the goal of helping you take control of your practice, and your life. This is The Law Entrepreneur.

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402. Artificial Intelligence Disruption Galore Coming to the Legal Space

By | June 14, 2024

In this episode, hosts Neil Tyra and Sam Mollaei dive into the transformative potential of artificial intelligence (AI) in the legal industry, presenting both challenges and opportunities for lawyers and law firms. They discuss insights from major AI conferences and announcements, emphasizing the exponential impact of AI advancements and the importance of embracing these technologies to solve problems and seize opportunities. Join them as they explore how lawyers can leverage cutting-edge AI tools to enhance their practices and stay ahead in a rapidly evolving landscape.

Key Takeaways from Neil and Sam

From the Singularity AI Conference:

  • Understanding Moore’s Law’s exponential growth in computing power and Wright’s Law’s cost reduction with production can help lawyers predict technological advancements and plan for AI integration in legal practices.
  • Ray Kurzweil’s Law of Accelerating Returns predicts exponential technological progress, urging lawyers to anticipate rapid AI advancements for improved legal research, contract analysis, and case predictions.
  • In the AI era, data is invaluable for predictive analytics and legal trend identification, enabling lawyers to gain a competitive edge by leveraging high-quality data for more accurate and efficient client services.

OpenAI – GPT-4o:

  • OpenAI’s GPT-4o, announced on May 13, 2024, offers GPT-4-level intelligence with faster performance and enhanced capabilities across text, voice, and vision, improving user interactions and real-time voice conversations.
  • GPT-4o is twice as fast, 50% cheaper, and provides five times higher rate limits compared to GPT-4 Turbo, making it a superior and more economical AI model.
  • GPT-4o is being rolled out to most paid users, with a free version starting this week, featuring new image upload capabilities, improved web browsing, and a code interpreter, while voice input still uses the old Whisper, and Mac and Phone apps are pending release.

Google’s AI Release:

  • Announced at Google I/O 2024, Gemini 1.5 Pro is an advanced multimodal AI model with a context window of up to one million tokens, capable of processing text, images, and videos, with plans to expand to two million tokens for developers soon.
  • Google introduced Ask Photos, allowing users to ask complex questions about their photo library for detailed information, and Veo, a video generation tool that creates high-quality videos from text prompts, both set to enhance user experiences across Google services.
  • Google’s generative AI enhancements in search provide more comprehensive and contextually relevant results, including video-based searches and improved AI overviews, as part of 44 new AI tools and updates aimed at deeper AI integration into its products.

“One of the other things I understood about this new version (of ChatGPT) is that it very much strengthened the visual analysis.” —  Neil Tyra

“The importance of data is that essentially, data is the asset, and if you have a unique data set… that is what makes AI valuable.” —  Sam Mollaei



Join Lawyer Club FREE, where lawyers and law firm owners come to reclaim control of their firms and their lives: https://joinlawyerclub.com/invitation


Purchase any of Sam’s books here: https://www.amazon.com/stores/author/B01ENMJSKI


Get in touch with Sam:

Website: https://mylegalacademy.com/

 https://thelawentrepreneur.com/

YouTube: https://www.youtube.com/@mylegalacademy

Instagram: https://www.instagram.com/sammollaei/?hl=en

LinkedIn: https://www.linkedin.com/in/sammollaei



If you’ve enjoyed the podcast, please head to Apple Podcasts and leave a rating & review for the show! It only takes a moment, and really helps me to reach new listeners. You can also head to the website at TheLawEntrepreneur.com for more information on the podcast and my legal services.

 

Audio production by Turnkey Podcast Productions. You’re the expert. Your podcast will prove it. 

Listen to the episode here

The Law Entrepreneur Relaunch & Vision For 2024 and Beyond with Sam Mollaei

By | May 31, 2024

In this relaunch episode, Neil passes the hosting baton to Sam Mollaei, who dives into the importance of adapting to change and seizing opportunities in the legal market. Join Sam as he shares his expertise on virtual law firms, automation, and practical AI applications, drawing from his inspiring journey from escaping religious discrimination in Iran to building a successful law firm in Los Angeles. Moving forward, expect episodes focused on early adoption strategies, practical tech tools, and self-development to help lawyers thrive in a competitive landscape!

Key Takeaways from Neil and Sam:

  • Embracing early adoption strategies, such as leveraging Google LSA, Facebook ads, and AI technology, can provide a significant competitive edge in the legal industry.
  • Implementing automated systems, such as sales funnels, can help law firms generate clients consistently and efficiently, even while the firm owner is not actively working.
  • Utilizing virtual assistants and other scalable solutions allows law firms to manage growth effectively and maintain high levels of client service without overburdening the core team.
  • Maintaining a strong emphasis on personal well-being, mental health, and work-life balance is crucial for long-term success and sustainability in the legal profession.
  • Providing and sharing valuable knowledge and practical insights through platforms like My Legal Academy and Lawyer Club can significantly benefit the broader legal community, fostering growth and innovation.

 

“Sam is so capable of doing with everything he touches, he takes it to the next level, the best level, the best version of anything that it could be. And so we’re really hopeful that this is the case here with The Law Entrepreneur.” —  Neil Tyra

“We promise bar none, the most value that you could possibly imagine for your audience. So if you’re listening in, you’re in for a treat for sure.” —  Sam Mollaei

Join Lawyer Club FREE, where lawyers and law firm owners come to reclaim control of their firms and their lives: https://joinlawyerclub.com/invitation

Purchase Sam’s books here: https://www.amazon.com/stores/author/B01ENMJSKI

Get in touch with Sam:

Website: https://mylegalacademy.com/

 https://thelawentrepreneur.com/

YouTube: https://www.youtube.com/@mylegalacademy

Instagram: https://www.instagram.com/sammollaei/?hl=en

LinkedIn: https://www.linkedin.com/in/sammollaei

If you’ve enjoyed the podcast, please head to Apple Podcasts and leave a rating & review for the show! It only takes a moment, and really helps me to reach new listeners. You can also head to the website at TheLawEntrepreneur.com for more information on the podcast and my legal services.

 

Audio production by Turnkey Podcast Productions. You’re the expert. Your podcast will prove it. 

Listen to the episode here

400. All Good Things Must Come to an End with Neil Tyra

By | January 8, 2024

Over the last 8 years and 400 episodes, Neil Tyra has provided listeners with great guests and amazing information that they didn’t learn in law school. But now, it is time for a transition and in this goodbye episode, Neil takes us through the journey of The Law Entrepreneur Podcast. So long, friends. 

In this episode, Neil discusses:

  • Taking a break from podcasting. 
  • How the podcast came to be. 
  • Some of the rockstar guests that we’ve had on over the years. 
  • A big thank you to all of our listeners. 

 

Key Takeaways:

  • Thank you to all of our sponsors, current and past, you made the podcast possible. 
  • Thank you to all of the many guests that we’ve had throughout the years. You’ve shared your wisdom and it was a great joy to speak with you. 
  • Thank you to the listeners, whether you’ve listened to one episode or all 400, you are the reason that we have continued to do the show. 

 

“Thank you to all of you – my sponsors, my guests, my fans, my family for putting up with all of this. We will see you on the other side. Thanks for being part of The Law Entrepreneur.” —  Neil Tyra

Thank you to our sponsors!

  • Ruby Receptionist – Virtual receptionist & live call services that will help you grow your office (and save money), one call at a time – to learn more, go to https://get.ruby.com/TLE or call 844.311.7829

  • The Net Profit CFO – Ryan Kimler works with attorneys who want to enjoy higher net profits without working longer or harder. With just 9 Simple Numbers, Ryan will help you drive more profit to your bottom line-and he won’t confuse you with all the details! Connect with Ryan at www.netprofitcfo.com.

Get in touch with Neil:

Website: https://thelawentrepreneur.com/

Twitter: https://twitter.com/lawentrepreneur

Facebook: https://www.facebook.com/thelawentrepreneur/?ref=hl

LinkedIn: https://www.linkedin.com/in/tyralawfirm/

If you’ve enjoyed the podcast, please head to Apple Podcasts and leave a rating & review for the show! It only takes a moment, and really helps me to reach new listeners. You can also head to the website at TheLawEntrepreneur.com for more information on the podcast and my legal services.

Show notes by Podcastologist Chelsea Taylor-Sturkie

 

Audio production by Turnkey Podcast Productions. You’re the expert. Your podcast will prove it. 

Listen to the episode here

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