Being a sole practitioner or the managing partner of a small law firm can be a lonely role. One of the ways to combat the loneliness is also a great way to commit yourself to lifetime learning for attorneys. This can be done by forming a small group of likeminded people dedicated to individual improvement. This is called a mastermind group.
Mastermind groups have some specific advantages. They include:
Advanced Problem Solving (and Problem Prevention)
When you are part of a mastermind group you will be able to tap into the knowledge of each of the group members. Their experience is invaluable in helping you solve whatever issues may arise in your law firm.
Members of the group will share best practices with you. This means that they will provide you with information on what is working. If you know what works (and what doesn’t) you can invest your time, energy and money the right way.
Loneliness often comes with the job when you are a solo or small law firm attorney. This kind of group is a great way to interact with people who face similar challenges. Just knowing that you are not alone can be incredibly valuable.
Referrals and Competitive Intelligence
Although most mastermind groups are not referral clubs, business relationships sometimes develop. Often these relationships will be powerful because there is a high level of trust among the participants in the group.
This video explains.
Ultimately, a commitment to learning and development is essential to the success of any attorney. Get some people you trust together and form a mastermind group as soon as you can. It will be a valuable experience that pays big dividends, not just in money but in piece of mind.