JUPITER, Florida—The American Dream is alive and well, as evidenced by Episode 11 of the Behind the Bench Podcast for Lawyers. Josh Konigsberg, Podcast Host and Partner and Co-founder of Law Firm Marketing Pros, an award-winning digital marketing agency, recently welcomed Luis Scott, Jr., Founder of 8 Figure Firm, law firm consulting that builds legacies.
“I’m super excited today to introduce our guest,” Konigsberg begins. “Luis Scott, Jr., is the owner of Eight Figure Firm, a consulting company that turns law firms into law businesses. I love that line. He’s an author, a speaker and a host of the podcast, Guts and Glory and former partner and CEO of an Atlanta-based PI firm that did multiple eight figures, 12,000 new cases a year. Luis, welcome to the podcast.”
“Thanks for having me.”
Konigsberg asks Scott to share his law background and transition into creating 8 Figure Firm.
“I’ve been in the legal industry for about 20 years,” Scott replies. “I started as a receptionist. As I always said, I was the American dream that started as a receptionist. And 15 years later, I was a managing partner of the same firm. I always tell people, ‘Stay with it, continue to grow, and you’ll be surprised what can happen. But I went through the ranks. I actually came on part time because one of their bilingual legal assistants was going to London. So I came to work as a receptionist, communicating with the Spanish-speaking clients. From there, I became a legal assistant and I ended up doing marketing. It was more like referral marketing, where I would go out and meet people and try to get business. And then I went to law school, became an attorney, ultimately became a partner, and then the managing partner of that firm. So that was the beginning of my years.
“I then started a firm that became a seven-figure firm. Then I joined in partnership, and we built a multi eight-figure firm. And so, for the last 20 years, I’ve just been working on building my own firm and now helping other people do the same thing.”
“Absolutely amazing! I love stories like that,” Konigsberg says. “What inspired you to pursue the 8 Figure Firm model?”
“I always wanted to be a speaker; actually, my end game is to be a nationally renowned author, and speaker,” Scott answers. “I’m writing a lot. I’m releasing five books this year. And I want to get on the speaking circuit and just talk about my story, which I believe is a tragedy to triumph story. I didn’t have anybody die, fortunately, in my life, but I went through a lot of heartbreak. I had eight failed businesses. I’ve gone through a personal divorce, I’ve gone through multiple partnership splits. And in the midst of all that I have risen to become a success.
“Eight years ago, I was completely bankrupt. My house was in foreclosure, my car was being repossessed, I was losing everything I had. And to be a millionaire eight years later, with all of the material things that people consider success is really a testament to just persistence and, and continuing on in the midst of things that are not ideal. And so I always wanted to be a speaker, and I knew to be a speaker, you’ve got to have some sort of credibility; you had to have some business that had already succeeded. Most people have some sort of success story behind their speaking career.
“As I was developing that business, I realized there was something missing in the marketplace. And that was a consulting business by an attorney who had done it, for attorneys, that actually was a proven, systematic process for growth. I started to think about ‘how can I develop that process?’ I came up with the nine principles of exponential growth, which was the original e-book that led me into starting 8 Figure Firm. That’s really the genesis of it. It just came out of this idea, nobody’s out here teaching how to actually grow an eight-figure business. What did we do? How can I capture it in writing? And then how can I teach other people to do the same thing?”
“Amazing. I am learning something about you today that I didn’t know. I love it,” Konigsberg says. “With 8 Figure Firm, how long have you been in business? How many employees do you have? How many clients do you have?”
“We started 8 Figure Firm in June of 2020, even though if you look at our business documents, it says February of 2020. But February is when the idea kind of came about. I was in a pool in Puerto Rico, talking to a friend of mine at the time, and we were talking about, ‘I’m going to help people get to seven figures.’ He’s like, ‘No, let’s go to nine figures.’ I said, ‘I don’t know, that’s too aggressive.’ So we settled on eight figures.
“And I don’t even know if that’s a true story. But it feels like the right story in my head, as we were sipping on a couple of Coronas. And I was like, ‘let’s look it up.’ So we looked it up and 8 Figure Firm was available, that trademark had not been used, I knew nobody was using this, I’d never even heard of this concept of developing an eight figure law firm. And in fact, when I looked it up, only one in 667 companies got to 10 million in revenue. So I knew it wasn’t a common thing. And so as we were talking about that, the business idea came to be, and I said, ‘We’re gonna call it 8 Figure Firm. And the friend, he gave us a little logo, and we developed this logo, which I liked, and I’ve kept during that time. And since June of 2020, we’ve helped almost 150 law firms create some level of predictability in their business. And we have, including VAs because we have some virtual assistants that are outside of the United States. We have almost 20 people who work for 8 Figure Firm in a full-time capacity. And then obviously, like most law firms, we have vendors who don’t work at full-time capacity, but do major components of our business. And so it’s probably about 25 people currently.”
“Are there certain markets within law you’ll serve and some you won’t, or is any type of law qualified?”
“We’ll take anything,” Scott replies. “I found that the system works for everything. And so we have firms that are $10 million in revenue in immigration, family law, personal injury, criminal estate planning, property damage—pretty much anything that you can sell a service to, it works. My favorite story: I have a good friend of mine who is in video production. He was not a lawyer, but he was a friend of mine. He came to me and asked, ‘Can you consult me?’ And I did for a year. And then he took away the strategies from there. Prior to us working together, the highest he’d ever earned in his business was $50,000. He couldn’t figure out how to get it. This year, he’s going to do a million in revenue. And using the exact same system, he’s been able to develop a million dollars in revenue. So we have plans to probably expand beyond law. But right now, it’s like, ‘how do we solidify ourselves as the leading authority in law firm building?’ And then think about expansion from there?”
“So, is there an ideal client?” Konigsberg asks. “I come across law firms that can’t even afford to invest in marketing, at least to the extent that our program can help them. So any type of law, but is it below $500,000? Or $250,000? Can you speak to that?”
“My perfect client is a million in revenue and above,” Scott confirms. “We have a saying, ‘we can take you from one to 10 in five years or less.’ So if you’re at a million dollars, you’re at a point where you could probably invest in marketing. Marketing is a big part of it, that you can invest into coaching without it being a huge financial drain, I’ll take somebody at $750,000. My favorite story: we took somebody from 389,000 to $1.7 million in one year, so it can be done.
But here’s the thing: if you’re not committed to the process, if you’re not committed to marketing, whether it’s professional marketing through digital media or through grassroots marketing, and you’re not committed to accelerating the top of the funnel, which is lead-generation and sales and conversions, it’s not going to work for you, no matter who you hire or when you hire them. For me, if you’re a million dollars, I feel like we can do a lot more with you quickly. I’m willing to take somebody as low as $750,000. We do have a program for people that are around $500,000. But you need to come in with an ambitious spirit. If not, nothing will work for you.”
“We call them aggressive-growth-minded attorneys.”
“One-hundred percent,” Scott agrees.
“Do you have a unique selling proposition?” Konigsberg asks.
“In my book, The King of Growth, I always say the USP is the person and because two people could have the exact same vision, mission and values, but if they look different, smell different, taste different, talk different, walk different, that’s the USP.
“For us, part of the USP is me. But the other part is that the system was created by a lawyer, who actually practiced law for many years, and who actually built a law firm. That’s the USP, and now working with 150 law firms in that capacity, we have a lot of stories in multiple practice areas that give us the edge. And I think that what we do is very different from a lot of outfits that exist. A lot of outfits that exist are coaches, they help you reach your conclusion. We consider ourselves consultants, we tell you what you should do. And so for us, that is the USP. We’ve been there, we’ve done that, and we’ll tell you what you need to do. So you don’t have to engage in the guessing game. There’s no guesswork with us. We’ll just tell you what needs to be done.”
Click below to listen to the full interview.
About Law Firm Marketing Pros
At Law Firm Marketing Pros, our vision is to help improve the way law firms market their services. Our mission is to educate, serve, and provide our clients with the most cutting-edge, efficient, and cost-effective online marketing tools available to increase their revenues and profits and exceed their goals.
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About the Behind the Bench Podcast for Lawyers
Presented by Josh Konigsberg, Author, Partner, and Co-Founder of Law Firm Marketing Pros, the podcast features special guests, renowned experts, seasoned lawyers, mindfulness practitioners, and thought leaders from various fields, to explore the intricate intersections between law, personal well-being, and the pursuit of a fulfilling career and successful practice. Behind the Bench is the ultimate podcast for legal professionals seeking a holistic approach to running a law practice, and to life, and the unique challenges of the legal industry.
Each episode features a distinguished guest who brings their unique perspective and expertise to the forefront, sharing personal anecdotes, professional insights, and valuable advice. Listeners will gain unparalleled access to the minds that help law firms succeed.
About 8 Figure Firm
After spending years searching for the perfect law firm consulting program, Luis Scott identified a crucial gap in the market – the absence of a law firm consultant with genuine hands-on experience. It became apparent that nearly every existing program was owned and promoted by individuals who were either non-attorneys, had no prior experience as attorneys, or were attorneys whose expertise dated back many years. Furthermore, a significant number of these programs lacked development by individuals who had practical experience in implementing the strategies they were teaching.
Recognizing this void, Luis Scott set out to address the issue. His passion for teaching led him to create a program that would provide law firm owners with genuine, real-life consulting expertise to scale their businesses to 8 figures and beyond.
In just 18 months, utilizing the methodologies outlined in his book, “The 8 Figure Law Firm,” Luis Scott’s program successfully assisted numerous firms in generating 7-figure revenues, with many achieving a doubling of their income in less than a year. Remarkably, during this process, 8 Figure Firm Consulting transformed into a multi 7-figure company in under 12 months.
