Today, my guest is Shelby Bothun. We don’t really spend that much time talking about the substitute aspects of law, but Shelby is a lawyer in North Dakota who focuses on estate planning in the agricultural community. And owes it to her roots as an agricultural insurance agent and the fact that her family has been in the agricultural business for a couple of generations now. What I find fascinating is to learn how much I didn’t know, frankly, about the agricultural business on a large scale in the Midwest. Many people have this romanticized version of what a farmer or what it means to be a farmer, but really, I should think, more along the lines of a big corporate business owner, because that’s what farmers are. This is a fascinating conversation, and I hope you enjoyed it as much as I did. 

In this episode, Neil and Shelby discuss:

• Why an agricultural economics degree is so marketable in the Midwest. 
• The importance of service in an industry with identical products. 
• Facilitating the transfer of wisdom, not just assets. 
• Working around the crop seasons to best serve clients. 

 

Key Takeaways:

• There are generational benefits to having a proper succession plan for your agricultural estate. 
• The farm transition is going to be emotional for both parties. Working with an estate planner can help to ease the transition and make it more successful. 
• Get an undergraduate degree in what you are passionate about and want to focus on in law school. 
• In a farming community, land is the most valuable resource. 

 

“Most farmers want to leave a legacy. It is a livelihood, it is a career, it is not just a job.” —  Shelby Bothun

Get in touch with Shelby Bothun:

LinkedIn: https://www.linkedin.com/in/shelby-g-bothun-esq-21428316a/ 

Website: http://www.progressiveag.com/ 

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

Today, we welcome back Mark Rockwell to The Law Entrepreneur. What Mark does is help solo and small, firm practitioners. Now he’s an attorney by trade, but most of his adult life in business and I think that gives him a little different insight into challenges faced by solo and small firms. Because of that, he brings a different approach to coaching those law practitioners. We have a great conversation today about time tracking, charging what you’re worth, and creating an open and honest environment with both your clients and those working in your law firm. Listen in for some great takeaways to help you run a more successful firm today. 

In this episode, Neil and Mark discuss:

• Challenges solo and small firm law firms face. 
• Setting out expectations and scope of work with your client. 
• Keeping on top of your accounts receivable and your time. 
• Tracking time, managing distractions, and avoiding incorrect time reporting. 

 

Key Takeaways:

• Nobody wants to gouge their clients, but if the client understands the value that is created and the work that is involved, they will be more willing to pay you for what you are worth. 
• If you let your AR go too far, you will go from a big, well-paying client to a pro bono client very quickly. 
• Interruptions are destructive to billable time and will be fatal financially. 
• If you do not bill the number of hours in a day that you expected and planned for, you need to understand where that time is going and what activities are pulling you away from that time. Without knowing what those habits and problems are, there will be no change. 

 

“At the end of the day, when lawyers aren’t billing enough, it’s a lack of confidence. I believe that in billing and capturing all your time, you have to be confident that you are creating value, the total number of hours that you’re going to have billed against this project is going to be met with the acceptance of the client, and they’re going to be willing to pay the bill. That is why it goes back to that upfront conversation of managing expectations and understanding the value that is being created.” —  Mark Rockwell

Get in touch with Mark Rockwell:

Website: https://coachrockwell.com/ 

Email: Mark@coachrockwell.com 

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

Listen to Episode 277 with Mark Rockwell here: https://thelawentrepreneur.com/episodes/277-law-is-not-just-a-profession-its-a-business-with-mark-rockwell/ 

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

Today, my guest is Steph Tuss. Steph is the CEO of a company called Light Is Now, a consulting company that works with small firms and businesses, including law firms, to help them grow, prosper, and to give time back to those who are leading those endeavors to live their best life. We had her business partner, David Neagle, on last year and I wanted to have Steph on because she has more of the hands-on, tactical role in their company, whereas David is the more visionary individual, and so I wanted to kind of complete the picture with her. She gives some great tips and you will get some great takeaways. 

In this episode, Neil and Steph discuss:

• Understanding why you don’t do the things you know you need to do. 
• Utilizing an integrator in your business to focus on your areas of genius. 
• Putting dissatisfaction into action. 
• Working with your team not controlling and micromanaging. 

 

Key Takeaways:

• There are two parts to change: awareness and applying new behaviors. 
• If you don’t hire the right people, it will be harder for your business to succeed. Your team is only as good as your worst player. 
• Set your team up for success from the beginning. Until you have the right things in your business, you don’t know if you are stifling your A-Players. 
• Be willing to pay for one person who can do the jobs you need done well, rather than spending less on multiple people who will do it less well. 

 

“You’ve got to start employing new behaviors because that’s the only way that change actually occurs. If you just have the awareness, nothing changes, nothing happens. You have to show up differently, which means you have to act differently.” —  Steph Tuss

Episode References: 

• The Law Entrepreneur – Understanding the Art of Leverage with David Neagle: https://thelawentrepreneur.com/episodes/333-understanding-the-art-of-leverage-with-david-neagle/ 
• No Rules Rules by Reed Hastings: https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention/dp/B0845Z14DX/ 

Get in touch with Steph Tuss:

Website: https://www.lifeisnowinc.com/ 

Successful Mind Podcast: https://www.successfulmindpodcast.com/ 

Instagram: https://instagram.com/stephtuss 

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