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LawBiz® TIPS – Week of July 8, 2014

LawBiz(r) newsletter

I just finished reading Moneyball by Michael Lewis about the 2002 Oakland Athletics baseball team. Listening to the news this weekend about the trades made by the Athletics general manager, Billy Beane, gives me an entirely new appreciation for the game.

This is the first week I am back on a bike...a stationary one, but still a bike.

Ed signature

Putting a Price Tag on the Value of Coaching

For $2 million, the food had better be good.

Recently, Andy Chua of Singapore bid over $2 million for the honor of having lunch with Warren Buffett, an Omaha investor who is one of the world's wealthiest people. The money goes to charity, but Chua, according to news reports, noted that he has followed Buffett's investment philosophies for years and wants to thank him in person.

So, although Chua never officially employed Buffett as a business coach, Buffett was, in essence, a pseudo-coach.

And a coach is a very beneficial person in the quest for success.

I coach attorneys on how to increase their revenue and their profits, providing advice based on years of experience and years "in the field" as a practicing lawyer.

So, what factors should you consider in engaging a coach? Given my experience, these are some of the traits I suggest you look for in any coach you consider:

  • What is your gut feeling about the person? Do you have a good rapport with him, even without personal contact?

  • Do you respect the person's reputation and experience?

  • Is or was this person a lawyer (a person who not only has a law degree but who is or was an honest-to-goodness practicing lawyer)?

  • If your coach was but is not now a lawyer, why did he leave the practice of law?

  • What has been the experience of the person as a coach, not just as a lawyer?

  • If you're looking for a particular area of experience (e.g., business/life balance, marketing, etc.), what has been the track record of the coach in this area?

Finally, a coaching fee should give you a return on your money. You should never hire someone whose bill will bankrupt you. What is a reasonable fee? That varies, but it's probably safe to say that you shouldn't be paying $2 million.

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Putting a Price Tag on the Value of Coaching

8 Steps to Greater Profitability (8 CD set) - 50% OFF!

Video: No, It's Not the Same: Pricing vs. Billing, Part 2

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No, It's Not the Same: Pricing vs. Billing, Part 2 

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New Life After Law Coaching Program



"We started trial today... (The) short conversation we had about the case ... prompted a fabulous opening/closing statement for me... You sparked a great visual argument for me which I have confidence in... Thank you."

Los Angeles, CA

"I have been working with coaches for the past couple of years concerning my business, and the thing that I particularly like about working with Ed Poll is his 25 years of legal background. He has a keen insight into the ramifications of practicing law and he seems to be genuinely concerned about my business."

Attorney At Law
Birmingham, AL


Ed Poll, LawBiz® Management   |   |   |   |


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