“There is no place on the balance sheet for the freedom of getting to live life on your terms.” – RJon Robins, author of Profit First for Lawyers

Profit means something different to law firm owner John Cannon today than it did when he opened his law firm in 2019. In this episode, John shares how his understanding of profit has evolved since reading Profit First for Lawyers and implementing Profit First in his practice. John shares a powerful clip from Chapter 9 of the Profit First for Lawyers audiobook. It explores the idea that true profitability extends beyond dollars and cents to include freedom, intentionality, and building a business that supports the life you want to live.

Early in his career, self-described Type A personality John Cannon’s focus was simple: generate more revenue and grow the firm. As his firm matured, so did his definition of profit. Today, profit also means having the freedom to spend time with family, confidence in his leadership team, and the ability to step away from the daily practice of law while knowing the business continues to serve clients and his community well.

Implementing Profit First allowed John to build a business that reflects his personal priorities while also growing a profitable law firm. He emphasized how strategic planning, developing strong systems, delegating responsibilities, and consistently working toward his big-picture goals have been key to his success. He encourages law firm owners to define what a profitable life looks like for themselves and intentionally build a business that supports that vision instead of only measuring success by financial performance.

Action Steps

• Define what profit means to you beyond financial results.
• Build your business intentionally to align with the life you’re trying to live.
• Remember that profit can include more than money: time, freedom, family, flexibility, and peace of mind.

Connect with John Cannon directly at: www.cannonandassociates.com

Subscribe to the Profit First for Lawyers podcast

Watch episodes on YouTube

And most importantly, order your copy of Profit First for Lawyers today!