Ep. 62: Rick Console, Console & Associates — Hard Decisions for Your Firm & Meditation For Attorneys | Summary and Q&A

TL;DR

A personal injury law firm owner shares his journey of starting his own firm, the challenges he faced, the importance of customer care, and the benefits of focusing on personal injury cases.

Key Insights

• 👨‍💼 Starting a business allowed the owner to have more control over his work and avoid the frustrations of his previous job.
• 💦 Working with a spouse can be successful if it is a natural extension of the relationship and if there is a good balance between personal and professional lives.
• 🥺 Scaling down a firm can lead to a more manageable and efficient operation, especially when focusing on quality staff members.
• 👻 Personal injury law can be rewarding both financially and emotionally, as it allows attorneys to help clients in a tangible and positive way.
• 👋 Marketing is crucial for any business, as even the best services or products need to be promoted to reach potential customers.
• 👮 Trying different areas of law can help attorneys find their passion and niche.
• 🥺 Hiring based on values and personality can lead to a more harmonious and effective team.

Transcript

rick so let's talk about the early years you got your jb from the rutgers university and you started your own company just you and your wife you know why did you decide to start your own firm right off the bat so yeah i started back in uh in august of 1994 with my own uh with my own farm the uh it was just my wife and i in a small uh executive cent... Read More

Questions & Answers

Q: Why did the owner decide to start his own law firm?

The owner wanted to be his own boss and disliked the demands of his previous job. He saw an opportunity to create his own firm and jumped at it.

Q: How did the owner and his wife handle working together as a husband and wife team?

They found working together to be a natural extension of their marriage. They were able to work well together from the beginning and had a good balance between their personal and professional lives.

Q: How did the owner handle the challenges of scaling down his firm?

While it was difficult to let go of employees, the owner recognized the need for a more manageable team. He focused on keeping the best people and creating a more close-knit environment.

Q: Why did the owner choose to specialize in personal injury law?

The owner felt a strong desire to help clients in personal injury cases. He enjoyed being able to move people from a state of suffering to a position of hope and confidence. Personal injury cases also provided a more direct and positive outcome for clients.

Summary & Key Takeaways

• The owner started his own law firm with his wife after being dissatisfied with his previous job.

• In the early days, they hustled to get clients and were happy to take on any case that came their way.

• The owner found his passion in personal injury law, where he could help clients and make a positive impact on their lives.