Is your professional service firm just a glorified job? Are you stuck in the time-for-money trap, wondering where the profit is?
In this eye-opening episode of the Profit Answer Man, we sit down with Jeff Holman, a serial entrepreneur and attorney who cracked the code on building true profitability into a law firm—without working 80 hours a week or billing by the hour.
If you’re running a service-based business, this episode is a masterclass in aligning cash flow, value creation, and scalable legal support. You’ll hear how Jeff transitioned from paycheck-chasing attorney to scalable business owner using a fractional legal team model—and how he implemented Profit First in an industry that often ignores profit altogether.
In This Episode, You’ll Learn:
- Why most law firms (and professional services) operate at a financial loss—even when they look successful.
- How to escape the “next client, next invoice” cycle and start building enterprise value.
- The secret behind Jeff’s Fractional Legal Team model—and how you can apply the same thinking to your industry.
- Why implementing Profit First was a game-changer for Jeff’s firm—and how you can do it too.
- Why professional service providers MUST stop thinking like employees and start acting like business owners.
Key Takeaways:
- Profit Isn’t Optional: Running a law firm—or any business—without a clear profit strategy is just self-employment in disguise. Jeff shares how he flipped the script and began designing profit into the business.
- The Time-for-Money Trap is Real: Many lawyers, consultants, and service professionals stay broke by chasing billable hours. Jeff explains how he stepped out of the “lawyer job” mindset and into the role of a true business owner.
- Build with the End in Mind: “If you’re going to run this business for 10–15 years, why not build something that’s actually worth something?” Jeff dives into how he intentionally built enterprise value instead of just cash flow.
- Fractional Legal is the Future: Jeff’s team model puts the right attorney with the right client at the right time—maximizing value while minimizing overhead. It’s not just smart law—it’s smart business.
- Profit First for Professionals: Learn how Jeff applied the Profit First system to create clarity, control, and cash flow in a notoriously chaotic industry—and why more professionals need to do the same.
About Jeff Holman:
Jeff Holman is the founder of Intellectual Strategies, a firm revolutionizing how startups and growth-stage businesses access legal help. His Fractional Legal Team approach gives companies the right legal expertise when they need it—without the cost of a full-time legal department.
With a background in engineering, law, and business, Jeff bridges the gap between technical teams and legal strategy. He’s admitted to practice in California, Utah, and before the U.S. Patent and Trademark Office, and brings over two decades of experience tackling complex business and legal problems.
Jeff’s mission is simple: help clients grow smarter, faster, and more profitably.
Conclusion:
You don’t need to be a lawyer to learn from this episode. Whether you’re running a design agency, a coaching practice, or a consulting firm, Jeff Holman’s story is your wake-up call: your business should serve YOU—not the other way around.
Stop building a job. Start building a business that pays you now and has value when you’re ready to step away.
Links:
Website: https://www.intellectualstrategies.com
LinkedIn: https://www.linkedin.com/in/holman/
YouTube: https://www.youtube.com/@intellectualstrategies9742
Instagram: https://www.instagram.com/intellectualstrategies/
Facebook: https://www.facebook.com/61554259033445
Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman
Sign up to be notified when the next cohort of the Profit First Experience Course is available!
Profit First Toolkit: https://lp.profitcomesfirst.com/landing-page-page
Relay Bank (affiliate link): https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
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