Welcome back to The Lawyer Millionaire Podcast, I’m your host Darren Wurz, and you’re tuning into Episode 41 with our special guest, James Grant of Georgia Trial Attorneys. Today, James shares his unique path from engineering to the courtroom, revealing how embracing failure is the backbone of success.
We’ll dive into the transformative growth of his firm, focusing on personal injury and becoming the powerhouse of outsourced litigation. James discusses his strategies for substantial financial gains through smarter CPA investment and tax tactics, aiming to enrich his referral partners with an impressive $150,000,000 in the coming years.
Stay with us as we unpack the importance of niche specialization, the art of refining processes, and the exciting integration of AI in legal practice. If you’re ready for key insights on scaling a law firm and sage financial tips, this episode is for you.
Make sure to share, review, and for an extra edge in wealth building, check out thelawyermillionaire.com. Now, let’s get into it with James Grant!
Steadfast law firm owners, brace yourselves for a profound narrative of transformation and financial acumen in Episode 41 of The Lawyer Millionaire Podcast. Your host, Darren Wurz, engages James Grant, who artfully shares the evolution of Georgia Trial Attorneys from its precarious beginnings to a juggernaut of personal injury law.
Synthesizing failure into fuel for growth, James imparts his strategic journey to fortify his firm’s foundation while expanding its wealth generation capabilities.
Essential takeaways from this episode include:
1. Leveraging Failure: Embrace setbacks as pivotal learning moments.
2. Value of Expertise: Understand the impact of investing in specialized financial guidance on your firm’s profitability.
3. Power of Specialization: Grasp how focusing on a niche practice area can streamline and scale your business.
4. Emphasizing Systems and Automation**: Identify key technologies and processes that can optimize your operations.
5. Evolution as a Constant**: Adapt and innovate continuously to remain competitive, with insights on AI integration and digital training platforms.
For law firm owners intent on achieving substantial wealth and a sustainable legacy, this episode delivers. James Grant’s trajectory offers a blueprint for converting trials into triumphs both in the legal arena and in wealth creation.
Systems and Processes: A Foundation for Growth
James Grant’s candid narrative of the initial challenges faced by his law firm provides valuable lessons for burgeoning entrepreneurs. Discover how lack of processes and a need for efficiency drove the firm to seek a business coach and implement rigorous standard operating procedures. Learn how these strategies can help you build a solid base for your own firm’s expansion.
Tax Strategies: Maximizing Wealth to Fuel Success
Grant’s experience with financial strategies demonstrates why investing in professional advice pays off. Dive into the world of legal financial strategies where retirement plans, profit sharing, and tax avoidance can turn your legal practice into a wealth-generating powerhouse. Get insights on hiring tax strategists to guide you through complex financial landscapes.
Niche Expertise: The Key to Unique Value
Listen as Grant explains why niching down was pivotal to his firm’s success. Discover how specializing in personal injury law and serving as an outsourced litigation department propelled their brand value and drew in high-caliber clients.
Leveraging Technology in Law Practices
In a time when technology dictates productivity, understanding how to utilize tools for automating administrative tasks is essential. Uncover the technological innovations, including AI, that James Grant’s firm uses to ensure precision and save time.
Adapting Training with Digital Tools
With a team that spans the globe, adopting versatile digital training tools has been a game-changer for the Georgia Trial Attorneys. Embark on the discussion about the significance of accessible, effective training systems that can accommodate a remote workforce.
Embracing Change and Creative Destruction
In a landscape of constant change, Grant’s outlook on the perpetual challenges faced by entrepreneurs is both eye-opening and motivating. Learn why change is not just inevitable, but necessary for growth and how it can lead to creative solutions that redefine your firm’s trajectory.
Optimizing Your Firm for Success
James Grant’s riveting story on The Lawyer Millionaire Podcast is more than just an interview; it’s a masterclass in resilience, smart financial decisions, and the power of systems in law firm success. Implement the insights from this episode in your practice, and chart a course towards becoming a lawyer millionaire.
Connect with Darren Wurz:
- 30 Minute Chat With Darren
- Wurz Financial Services
- The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
- LinkedIn: Darren P. Wurz
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- Twitter: Wurz Financial Services
Connect with James Grant:
About our guest:
James Grant isn’t just an attorney; he’s a game-changer. As the co-founding partner of Georgia Trial Attorneys, he’s revolutionized the field of personal injury law in Georgia. He has created a powerhouse law firm that serves as the outsourced litigation arm for other personal injury firms. Gone are the days of personal injury lawyers juggling pre-litigation and courtroom battles. James’ mantra says it all: “We litigate, so you don’t have to!”
Together with his co-founder, Mark Kirchen, James has designed a form that embodies the future of law: where partners thrive, justice is swift, and technology leads. His leadership has shaped Georgia Trial Attorneys into a beacon of:
- Absolute Accountability: We own it, fix it, and finish it
- Forward Momentum: We accelerate cases, not just activity
- Relentless Refinement: We are always looking to elevate
- Every Conversation Is A Chance To Excel
Not just a powerhouse litigator, James is a tactical businessman. His dual expertise proves that you can win in the courtroom while maintaining a well-balanced life. A seasoned veteran in the courtroom, his prior roles include stints as an Assistant Solicitor-General and Senior Associate Attorney, where he honed his skills in both criminal and civil litigation. His diverse experiences make him the ultimate weapon against insurance companies and their greed, leveling the playing field for every client he represents.
But James isn’t all business. Outside the courtroom, he’s an amateur strongman competitor and an avid golfer. He values the harmony of a fulfilling personal life,. He lives in Roswell, Georgia with his wife Meredith and their children, James and Leah.
Darren Wurz [00:00:00]:
Could systems and automation be the key to unlocking increased productivity for you and your law firm? Welcome to the Lawyers Millionaire podcast, a show focused on empowering law firm owners to build extraordinary wealth and secure a lasting financial legacy. I’m your host, Darren Wurz, financial planner for law firm owners. Today, we’re honored to be joined by a knowledgeable and experienced guest from the world of personal injury law practice management. In this episode, we’ll explore systems and processes embracing failure and building a thriving and successful law practice. And we’ll be exploring all of that with the help of James Grant, co founder of Georgia trial Attorneys and a recent competitor in Strongman competitions. Welcome to the show, James.
James Grant [00:00:51]:
Thanks for having me, Darren. I like the little plug at the end. You always got to throw in something a little quirky and strong. Man’s definitely that.
Darren Wurz [00:00:56]:
Absolutely. Well, I got to see your whole workout set up, and I’m really impressed. That’s fabulous. Good stuff. Well, let’s start with your story, your background, and let’s go way back to the beginning. And tell us in the very beginning, what was the motivation for you to even get into the field of law.
James Grant [00:01:15]:
Oh, man. It was a whim. And most people don’t think I actually mean a whim, but it literally was a whim. I had a semester and a half left before I graduated with my bachelor’s of science in civil engineering from Georgia Tech, where I had two job offers lined up ready to go, and I was just, huh. Law school would be fun. Let’s do mean. That was literally the thought process behind taking the LSAT, applying to law schools, and going to law school.
Darren Wurz [00:01:46]:
James Grant [00:01:47]:
I don’t necessarily advise that to everyone out there to make that big of a leap into something like that, but it worked out for me in the end. But it literally was just like a. This could be fun. Let’s try that.
Darren Wurz [00:01:59]:
Yeah, absolutely. Well, that is kind of crazy, but it obviously did work out for you, and you seem to love what you’re doing now. Tell us. Walk us through the journey when you graduated law school from that point to starting your firm. Tell us about that story.
James Grant [00:02:18]:
So, when I graduated, I thought during law school I was going to do patent law, which is kind of a combination of using my engineering degree, and then because I had an engineering degree, I could sit for the patent bar, and I thought that would be a good thing. Well, my third year in law school, I was able to try a couple of cases and practice law effectively under what’s called the third year Practice act. And I did that at the local district attorney’s office, and very quickly, I realized the whole court thing, it’s performance, it’s sales. It’s just fun. So I was like, ok, everything’s changing now. And when I graduated past the bar and was back home in Georgia, I was like, all right, well, I have to get some trial experience, and if I go the typical route, it’s going to be three years before I even sit in a deposition because I’m pushing paper. So I worked for a prosecutor. I was a solicitor general here in one of the local metro counties in Atlanta and tried a whole bunch of cases. I was there for 18 months, and I had, like, 20 something trials and I mean, tried more cases than some attorneys do in their entire careers. And I wouldn’t say I was an expert by any means, but I had a lot of experience and was like, okay, I get this. I enjoy it, but now it’s time to leverage it into something that I want to do and be able to control a little bit of where my career goes.
Darren Wurz [00:03:37]:
James Grant [00:03:37]:
I went to work for a firm that I call door law, meaning if they walk in the door, they’re going to handle the case. Not necessarily the best business model because they literally dabbled in everything. So very quickly, my business partner, he and I started at that firm within two weeks of each other. And very quickly, we just kind of looked at each other and we’re like, let’s do this ourselves. And we started planning, putting the pieces together, and what was it? It was 14 months later. We turned in our notice, flipped a switch, and started Georgia trial attorneys in January of 2015, and haven’t looked back since. It’s been a lot of twists and turns, but it’s definitely been the best decision by far of becoming an entrepreneur and starting my own business.
Darren Wurz [00:04:27]:
Yeah, that’s incredible. So you saw a lot of opportunity there. Maybe there was a better business model that you could create. Was that the turning point for you?
James Grant [00:04:40]:
It was, again, unfortunately, more of a whim and less of more of a whim and idealism and less of a true plan and foresight, which I’ve now realized after seeing it a lot, is, unfortunately, how a lot of people in the service industry end up working. If you’re a lawyer, if you’re a CPA, if you’re a plumber, if you have some licensure that you have, you just rely on that. When you start your business, you say, as long as I do good work, everything’s going to be fine. And that’s not necessarily how business works. We were able to put things together. We were profitable our first year. We had a great first year. But very quickly, everything, as you start continuing to grow, everything just became a problem, because we didn’t have systems, we didn’t have a business plan. We didn’t have processes and procedures and standard operating policies and templates and all this stuff that you need to run a business. And so it got really hectic really fast.
Darren Wurz [00:05:45]:
Yeah. So you grew very quickly and very easily, and then ran into those problems. Tell us about how your firm is today, the size and scope, and how it operates in its function today.
James Grant [00:05:59]:
Yeah. So our firm is nothing like the way we started. A lot of that, too, is because in about end of 2018, we hired a business coach, which was probably the single best thing we ever could have done for ourselves and our business. Just to have an outside consultant to help you make strategic decisions and understand what it’s like to run a business that just so happens to practice law. And with that, we were able to refine our practice area, because we had done a lot when we started. We had done family law, criminal defense, and personal injury. A few years later, we narrowed to just personal injury. But within the last two and a half years, we’ve narrowed even further within personal injury to where our business model is that we help other personal injury lawyers make more money faster and with less stress by serving as their outsourced litigation department. So instead of being a b to c business, we’re a b to b business to where we only want to work with other law firms to help them and their clients with their litigation cases. So that the firms that are great in the pre litigation phase, and they’re great at marketing and sales, to go do more of that. Because at the end of the day, this is business. And if you want a business, go focus on what you’re really good at. And then the other stuff that comes, the 30% of cases that don’t settle that need litigation. Let us help you with that so, again, you can throw more money into your marketing machine. We’ve grown a lot. In addition to mark and myself, we have three and a half other lawyers. I say half because it’s a contract attorney. We have a lot of staff. We have staff all across the world. Covid was a wonderful thing in the mindset that it allowed us and forced us to look at things from a global perspective. And we have the ability to leverage so much more by hiring across the globe, as opposed to the ten mile radius around our office, which is a huge geographic limiter and all the stuff that comes with growth. As far as being able to look at technology and automation, the wonderful things that are happening with AI, just being able to be able to adapt and implement things quickly, it’s all different than when it was just me and mark in his basement, for sure.
Darren Wurz [00:08:17]:
Yeah, things have changed a lot over the last couple of years. I myself and my business have thought a lot more broadly as a result of COVID I think Covid was a catalyst for a lot of that change. You’re kind of a perfect example of niching down to a specific area. Can you speak for a minute about the power of that and how that has worked out for you?
James Grant [00:08:42]:
Yeah, it’s incredible. And so many people are scared of a niche. They think of it as, well, I’m only going to have a small client base and it’s going to be really tough to go after those people. But kind of flip that and think of it well. If I know exactly who I want and I know who my avatar or my grade a client is, then I just go after them. And if I’m offering something that is specialized, well, generally you’re not going to have a lot of competition. Or if you can offer something that’s an objective, unique value proposition, even if it’s a small market share, you can at that point have 70, 80% of the market share. That’s kind of what we have. I would much rather have an entirely captive audience in that regard, as opposed to having to then compete with everyone doing the same thing because everybody else is doing it, but expecting a different result, niching down and finding something that’s different and being an industry disruptor, that’s really where change happens. If you just want to be like everybody else, then you have to expect the same results as everybody else.
Darren Wurz [00:09:52]:
Yeah, great stuff. Thank you so much for that explanation there. And another really great reason to focus like that is you can really refine your systems and your processes and all that stuff.
James Grant [00:10:06]:
Oh, yeah. I mean, we are very focused on our niche. And within our niche, we don’t litigate all types of cases. We don’t handle cases that are seven figures, eight figures and above. We really don’t handle high six figure cases. Our bandwidth is from about $5,000 in medical bills up to about $250,000 in medical bills, which to the average person that sounds like a lot. But when we’re dealing with catastrophic injuries, unfortunately, there’s a lot of wrongful death cases or medical malpractice cases, those are giant cases. That have enormous value. But it’s an entirely different workflow to run those cases than to run the cases that we focus on. We’re very big on our systems and our procedures and we like to stay in our lane. So we work very well with a lot of the big name lawyers that do a lot of the giant trials. We have a good working relationship because I actually don’t want anything to do with those cases. And so we stay in our lane. And again by doing that you narrow your focus, you narrow your audience, and you’re able to have the systems that support it which then goes back into your marketing to then show that you’re actually delivering on the promises that you’re giving in the sales conversation, right?
Darren Wurz [00:11:26]:
Absolutely. So let’s dive into systems and automation a little bit more deeply. Can you start by maybe giving us some examples of how you use systems and automation in your practice now firms.
James Grant [00:11:40]:
Microsoft owns the world pretty much, and I’m okay with it. I’m not opposed to it. We love Microsoft, but if you think that Microsoft is, and most people do and there’s no fault there, it’s just we don’t really have exposure to it. A lot of times most people just think of Microsoft as word, Excel, PowerPoint and Outlook. And that’s kind of like what Microsoft offers. But even if you just have a basic Microsoft Office 365 subscription, you have access to so much intelligence that Microsoft has already built, sanctioned and supports. So with that you can do different workflows with power bi and dynamics and power automate to streamline a lot of these administrative processes. And when you think about most businesses, most businesses rely very heavily on administrative processes and procedures. So the more you can automate those things the better. And to give you an example, one thing that we do with our clients is when it comes to the time to disperse, so the client has to sign off on their settlement statement. That breaks down where all the money goes from the settlement. Well the typical process in a lot of other firms is either the client comes into the office, they sign the document by hand and they get a physical check. That’s too old school for me. I don’t like that. I understand there can be a marketing side to that component of having a face to face interaction with a client and trying to build a relationship. And if that’s the goal, that’s different.
James Grant [00:13:18]:
But at the same time a lot of people just don’t want to drive 30 40 an hour and a half to go meet with a lawyer to pick up a check. So we do everything via esign, we have a workflow that sends them the esign documents. When it comes back and it’s signed, they get another document, which is an ach form. If they have selected that option, because they can come in the office if they choose, or we can mail them a check or they can do an ach, the system will determine which workflow to send next. But if they want an ach, they get an authorization form that’s again sent to them. They fill it out. The system then processes that information, puts it into a CSV file. That CSV file is then uploaded to truest. And then I think there’s two other manual triggers just because we’re dealing with the bank and we want to check that. But once we sign off that the numbers are correct, then it’s sent off to truest. And truest, through a robot processes the Ach transfers to the clients so they get their money, and it happens very quickly.
Darren Wurz [00:14:23]:
James Grant [00:14:24]:
Doing stuff like that saves a ton of time, and it helps with accuracy, because, again, if you’re telling the system this is how you do this and you do it on a repeatable basis, the chance of error is so greatly reduced, because even if I’m doing it, my name’s on the door, I’m responsible, but I can still make mistakes. I’m human. So a lot of times when you take out the human component, you can actually move faster and more accurately.
Darren Wurz [00:14:53]:
Yeah, I second all of that. Was there a moment in your practice, you mentioned that things grew and you realized that you needed systems and you needed automation, but was there, like, a particular difficulty where you’re like, okay, now we really need this? And what was maybe the first system that you implemented?
James Grant [00:15:18]:
There wasn’t necessarily just one thing, but when we were in that phase of growth, we were into 2018, and we hired the business coach. It was kind of like everything was. Our hair was on fire. We were just hopping from one problem to the next because we didn’t have any systems. We had some templates, but nothing was written down. We didn’t have glide paths mapped out for. How does the onboarding process work? Well, once a client’s onboarded, what are the next steps? We knew what to do. We trained our staff on what to do, but there was no standard operating procedure. There was no manual, there was no video training. There was no testing that we did on a quarterly basis to make sure that people are still doing the same things that we train them on. So, I mean, looking back, it was like, how did we even function? I don’t understand. So it wasn’t necessarily one thing, it was just a culmination of everything was just like, everything. How do we fix this? And it just have to start. There’s the old adage of starting. What is it? The best time to plant a tree was 20 years ago, but the second best time is today. Yeah, you have to start somewhere. And even if it’s writing out a script of how you want the receptionist to answer the phones every single time, for consistency, start there. Start with something simple and then move into the bigger stuff. But the more that you create these manuals and even using Zoom to do screen shares and narrate little five or ten minute video segments, as far as how to do certain processes, that’s really where you can leverage that ability. So then I don’t have to train in person. It’s just, hey, go watch the video. And then we’re going to send you a three minute test to make sure that you actually understood what you watched. Yeah, simple stuff.
Darren Wurz [00:17:10]:
And that becomes so critical for building your team, scaling your practice and bringing it to the next level, because then when you bring people in, things are already for them to go. You’ve got the systems there. How do you keep your standard operating procedures? Is it a physical copy or is it like a digital thing? I’ve seen people where maybe they have it in a Google Drive and they’ve got Google Docs and they have a video embedded in there. What does your process look like?
James Grant [00:17:39]:
So, yeah, physical wouldn’t work because even though I think we just onboarded a couple more people, I think we’re up to 21 now, but they’re all across the world. So like a physical copy of anything wouldn’t work because it’s inaccessible. Also, even though we do have people that are local, one person goes into the office every single day, and that’s our receptionist. We haven’t been able to outsource incoming mail because we deal with checks and deposits and stuff like that. So that’s the one position that’s in person, but everybody else really works from home or wherever they want to. So with that, you have to have a digital platform. I think there’s a lot of great options out there with trannial and a couple of other different platforms for training processes and procedures. I’m not the biggest proponent of those, and there’s a reason for it. I don’t like them because it kind of locks you into their system and your system that you have to be cohesive. But if you’re scaling your business. The way that you run a $500,000 business is not going to be the way you run a $5 million business and is definitely not going to be the way you run a $50 million business. So the training procedures and manuals and things that you did at 500,000 will not be the same at 5 million and will not be the same at 50 million. So with it, we try to keep things basic of we have written manuals online using simple things like word documents and building in workflows and having screenshots and then also having videos where it’s short segments of generally no more than 10 minutes. We try to keep every video to like 5 minutes on average, just because people lose track. The shorter you break it up into the simple process, then it’s also easier for people to find as opposed to, well, I’ve got this hour and a half long video. I know my portion that I’m concerned about is somewhere in here. And then you spend 15 minutes scrolling for it. Yeah, it doesn’t work. So the more you break things up into small digestible chunks, the easier it is. And then just storing it somewhere online where it’s accessible. We use Microsoft, so it’s all through.
Darren Wurz [00:19:49]:
Great, great, good stuff, great advice and great stuff for other law firm owners to put in practice. I’m glad you said it was digital because I said, I hope it’s not a physical copy. And then I was like, wait, I hope it really isn’t.
James Grant [00:20:04]:
No offense taken at all.
Darren Wurz [00:20:05]:
Right. Okay, good. Now that you’ve built your practice and it’s growing and it’s bigger and you have this larger organization, you’re in more of this management position and there’s more leadership on your shoulders as you’ve gone through that process. Can you tell us, let’s talk about the challenges other than workflows. Was there ever a time where you faced a failure or an unexpected challenge in your work? And how did you embrace that and learn from it?
James Grant [00:20:37]:
As an entrepreneur, you will always face challenges. It never stops. It doesn’t matter whether you have a brand new business that just started today, or if you’ve been in business for 30 years and you’re averaging billions and billions of dollars a year in revenue, you’re always going to have problems. And that’s one thing that the entrepreneur has to embrace and understand. You’re always going to have problems, whether it’s people, whether it’s processes, whether it’s cash flow, you’re always going to have a problem that you’re dealing with. Nothing is ever just easy street. Now, there can be certain firms where you reach a point where you don’t want to scale. You have your needs that are met from a personal, professional and financial standpoint. But even then, that’s not going to last forever. People are going to leave, industry changes are going to come, disruptors are going to occur. So you’re going to have to be able to adapt at some point. And being able to have that mindset is probably one of the biggest keys, I think, is to understanding that things will go wrong, things will change, and you kind of have to embrace this idea of creative destruction. Even though you may be staying the same. You’re going to have to break it down and rebuild it at some point. You may have had a flat revenue growth law firm back in the guess what, the Internet came around. And if you operated that same way, you were going to get left in the dust. So you have to be able to embrace this idea of change and creative destruction because it’s the only way that we stay around and our competition doesn’t surpass us.
Darren Wurz [00:22:18]:
Yeah, absolutely. Things are always changing, and I feel like things have really changed at such a rapid pace over the last few years with AI coming into the picture and new forms of technology. We were just talking about AI before we got on. Are you using AI in your practice at all? I’m curious about that.
James Grant [00:22:37]:
Darren Wurz [00:22:38]:
James Grant [00:22:39]:
I love AI. I know there are some attorneys that are so scared of it, and I mean, I get it, it’s new things, but like I said, that was Westlaw and Lexus Nexus in the Internet in the case management software and email in the. Because it’s new doesn’t mean it’s scary. And those of us that implement and adapt are going to be so much further along when the state bars and the legislators and all these others catch up to it. And by that point, even those regulations are going to be out of date. Being able to implement this stuff is just incredible. It saves so much time and it allows you to focus on your higher level functions in your job. And, yeah, I mean, we use it every single day. I love it. I taught a webinar on chat, GPT’s custom instructions yesterday. So yes, I am all in on AI and technology.
Darren Wurz [00:23:41]:
Very cool, very cool. All right, so let’s now transition into the money side of things, right? We talked a little bit about this before running a law firm. You’re running a business, and there’s not always an emphasis on the business side of things. What are some things that you found successful for dealing with the financial aspect of running a law practice, or what are some big money lessons you’ve learned growing your organization?
James Grant [00:24:14]:
One is not necessarily, well, it involves money. I’ll give you two. This one is not necessarily a money, so to speak. It’s more of a process and mindset, and then we’ll talk about a couple of others. But the first is cheap, is expensive, doesn’t matter what it is, if you are cheap on anything, 90% of the time, it’s going to end up costing you more in the run. In the long run, whether it’s technology, whether it’s equipment, whether it’s people, doesn’t matter. If you want to be a professional in your field, pay other professionals or obtain other professional things, because if you act on the amateur level and pay on the amateur level, you’re going to get amateur results. So that’s just kind of like a first mindset deal. When it comes to money, we have learned it the hard way. And so I’m speaking from experience, but just act like a professional. The second is, and again, this is not necessarily a plug for you, but it’s also a plug for you, of hire somebody that knows what they’re doing. When it comes to a CPA, to a tax strategist, to an accountant, knowing your field, whether it’s personal injury, whether it’s business law, whether it’s family law, criminal defense, like whatever your field is, you are really great there. Generally speaking, you are not a tax strategist. And so many attorneys, because I talk to a lot of them, are leaving thousands and thousands and sometimes hundreds of thousands of dollars on the table because they’re just hiring the CPA that we’ve used for the last 20 years, and they do great personal returns. That’s not the person that you need. And again, I’m speaking from experience. When we started our law firm, we hired a CPA that was on Buford highway in a check cashing facility. It was the cheapest CPA we could find because that’s what we thought, that’s all we thought we could afford, and it was terrible. Now, we are paying an enormous amount to our CPA and tax strategist, but the return is more than five x. Well, more than that. So it’s like, I’ll make that trade every day of the week, and then having someone advise you on all the different strategies and the ways that you can take money from your business and put it into yours and your families and your employees pockets and not the government. I’m not advocating for tax evasion.
Darren Wurz [00:26:48]:
James Grant [00:26:49]:
A lot of tax avoidance strategies that are out there that benefit a lot of the people that, you know, like and trust in your business and your family. And why wouldn’t you want to do that?
Darren Wurz [00:26:59]:
Absolutely. I applaud that 100%. And like you said, it’s not that you don’t want to pay taxes. It’s that these are avenues that the government has created. These are opportunities that the government has given to business owners and to professionals to enable them and empower their success. So you should take advantage of those opportunities as much as you can. Absolutely.
James Grant [00:27:25]:
Because when we started, we just thought that, well, you just take your PNL and whatever money is left over, you just have to pay taxes on that, because that’s the way the game works. Not realizing that you can have retirement plans, you can have profit sharing plans, you can also create pension plans. You can look for your office to be in an economic opportunity zone. Your business can, through the Augusta rule, you can rent your house out 14 days a year at market rate. You can have all these home office deductions. I mean, there’s so many avenues where you can get money out of your business and put it into your. It may not be just you, but it might be your employees.
Darren Wurz [00:28:08]:
James Grant [00:28:09]:
Well, who would you rather give that money to, Uncle Sam or your employees? Again, it’s going to work for your benefit in the long run, even doing that.
Darren Wurz [00:28:16]:
Absolutely. You’re speaking my language, James. Very good. Well, how about the future? What does the future look like for you and your practice? Are there some new systems you’re working towards implementing or new goals that you have?
James Grant [00:28:29]:
Yeah. So where the firm ends up, we’re still scaling the firm. We’re in a course called scaling up, which is through Vern harnish. Also in conjunction with how to manage a small law firm, they’ve created this course, scaling up for lawyers. So we definitely want to scale the law firm and continue that through our entrepreneurial journey. We’ve also discovered that there are several other segments that we’re interested in within the legal field itself. So one of the other things that we’re really working hard on is I hate case management softwares. I hate almost every single one of them because they don’t necessarily do what they inherently market. They don’t really automate processes and workflows. And with a lot of the things that we’re building into our firm, we also see that as an opportunity to create a true case management software through Microsoft with true no click, no code automation, which then just allows so much more efficiency. And especially from the personal injury side of things, the more efficient I can be and immediately throw things back in the lap of the defense, the faster the case is going to go. And a lot of times the squeaky wheel gets the grease and we can resolve cases quicker.
Darren Wurz [00:29:40]:
Absolutely. Well, that’s very exciting, and I can’t wait to hear more about that as you continue to work on that. Well, James, we’re coming down to the end of our time. I’ve got my last question for you. What is your millionaire mission? What’s your big purpose or big why that you’re working towards?
James Grant [00:29:58]:
So we’ve really got two that we kind of focus on. One of them is we want to be the most profitable professional relationship with our referral partners just across the board. We don’t want to necessarily be just the litigation go to guys. We want to be able to connect and be able to provide advice and be able to help our partners, because, again, this is a symbiotic relationship between us and our firms. The more we grow, the more they grow. The more they grow, the more we grow. So the more that we can help each other and continue that pursuit, especially from a professional relationship, the more it’s going to benefit us from a personal, professional and financial benefit. And then one of our lofty goals is within the next ten years, we want to give $150,000,000 to our referral partners with our fee splits, because they send us cases and we do so well with them in the end.
Darren Wurz [00:30:51]:
Fantastic. Big goals. I like it. I’m a big proponent of having big goals. Well, James, I imagine there may be some attorneys listening who would love to connect with you or learn more. And if they want to do that, how can they do that?
James Grant [00:31:03]:
Yeah. So the easiest way to get a hold of me is through our website. Our URL is our toll free number. Effectively, our toll free number is eight three three for the win. So you just put that into your browser. Eight three three, the number for the win. And you can schedule a free strategy session with me. Or if you’re local to the Atlanta area, you can also schedule an opportunity for me to come out and take you out to lunch and see what we can do for you and your right.
Darren Wurz [00:31:29]:
All right, well, thanks, James, and thank you, the listener, for joining us today. We hope you gained some great insights that will help elevate your success. Remember, the journey to financial success is always better when shared. If you found value in today’s conversation, please take a moment. To share this episode with a friend or colleague, and don’t forget to subscribe. We’d also love to hear your thoughts, so please leave us a review. And remember, you’re not alone in this. Together, let’s navigate your path to financial success. To learn more about how we empower your wealth building journey, please visit thelawyermillionaire.com. Until next time, stay focused and stay inspired. I’m your host, Darren Wurz, and I’ll see you next time.