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Becoming a Deep Expert of Law and Running a Business ft. Michael Whelan ML108

In this episode, Jim and Tyson interview Michael Whelan. Michael runs his own law firm, organizes a lawyer conference and is writing a book about running a law business. They will go over his background, the conference and the book; it’s main principles about being a solo practitioner, deep expertise and legal supply chain.

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“Law is not a business plan, it’s a product, it’s a monetization strategy. It’s how we turn knowledge in to cash so that we can live. How we do that is really up to us.”

The conference: http://www.lawyerforward.com/
The Book:
You can sign up to be on a mailing list where Michael talks about what’s going on with the book: http://www.lawyerforward.com/bookupdates/

3 main ideas:

1. Financial capital is not a good play for specially solo attorneys, but social capital is highly available, and should be the leverage point for people trying to run their own law firms.
2. The 2 most valuable pieces of any transaction are the relationship and deep expertise.
3. People should connect on a legal supply chain. A different way to structure human capital.

Hacking’s hack: Jim’s been listening to James Schramko (https://www.superfastbusiness.com/about/) and he said something that really struck a nerve with him.

“I create content when I have something to say.”

Michael’s tip: A daily task app that is fantastic and it’s gamified. Great to use with your kids.
https://habitica.com/static/home

Tyson’s tip: A tool to manage social media.
https://www.agorapulse.com/

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