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  • Article: Remind Yourself That Wealth Is Time Well Spent by Ed Poll

    Remind Yourself That Wealth Is Time Well Spent

    by Ed Poll

    When coaching lawyers who feel overwhelmed by their practices and lives, I emphasize that every day is an opportunity for each of us to create balance in our lives. That means taking time to create a legacy, help clients, manage our practices, and care for our families and ourselves.

    That's a combination that defines life a 24/7 endeavor, 365 days a year. In the effort to excel, made more intense by the pressure of economics, trying too much to succeed can cause problems for lawyers. Generally, we're successful because we're competitive. But too often our striving for success can be counterproductive.

    In a truly successful life, each of us strives for balance, to do something daily that we enjoy doing rather than waiting until a "vacation" or reaching the age of "X." Our time is precious and we should take time when we can to do the things we enjoy.

    I was reminded of that point when told that a longtime colleague, Ross Kodner of Wisconsin, died of a heart attack at 52. He was a leader in the technology field for sole and small-firm practitioners; he is given credit for coining the phrase "the paperless office."

    Kodner was an active member of local and national bars and a frequent speaker all over the country. He enjoyed his professional and personal passions and will be greatly missed. His passing highlights the importance for each of us to take a serious look at our definition of success and of a balanced life.

    Often the lawyers I coach feel that they have not achieved the degree of success that they want. I can empathize. For many years, I thought "success" meant strictly how much money one earned each year. But as a practicing lawyer handling divorces, I wondered how my clients could earn more than I did and be perceived as "successful," yet have a net worth less than mine.

    Then, as a coach and consultant to attorneys and law firms, I thought that lawyers in large firms, especially equity partners, were more "successful"` than I was; as a sole practitioner, I earned less and didn't have the power of a large organization to help achieve my goals.

    Eventually I got beyond those feelings by recognizing and accepting the success that I had built in my life and career, success that met my own definitions.

    That definition encompasses what I have done as a husband, father and grandfather, not just as a businessman, lawyer and coach. The desire to create new value for my clients and to leave a lasting and meaningful legacy that my children and grandchildren can admire has driven me for many years.

    And, as my coach says, real wealth is discretionary time time to do what you want when you want. I enjoy what I do and cannot envision retiring from it. Because I look forward to life, I am blessed, lucky and successful.

    As lawyers, our real job is to help others and make their lives better. I truly believe that most attorneys love their profession at heart and want to be fully committed to their families and personal lives. The trick is to get past the distractions and stress so you can see your life for what you want it to be and create your own definition of success.

    There is always a larger boat in the water, no matter how large yours may be. View success not as "how much," but rather as "how well" you use your time and talents to build your legacy.

    Copyright 2013. Edward Poll. All rights reserved. Reprinted with permission from Edward Poll. Reprinted from the August 14, 2013 issue of Coach's Corner.

    About The Author

    Ed Poll principal of LawBiz Management Company, is a nationally recognized coach, law firm management consultant, and author who has coached and consulted with lawyers and law firms in strategic planning, profitability analysis, and practice development. Mr. Poll has practiced law on all sides of the table for 25 years-- as a corporate general counsel, government prosecutor, sole practitioner, partner, and law firm chief operating officer and been a consultant to small and large law firms for 20 years.

    The opinions expressed in this article do not necessarily reflect the opinion of ILW.COM.
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