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Send us a textShownotes can be found at https://www.profitwithlaw.com/468.Do you want to learn the secrets of leveraging attorney compensation for a more profitable law firm?Join Moshe Amsel as he welcomes guests Brenda Barnes and Camille Stell to explore the intricacies of attorney compensation on the Profit with Law Podcast. Dive into the details of their co-authored book, "Respect: An Insight into Attorney Compensation Plans," and uncover strategies for using compensation to align with firm goals, enhance productivity, and create a fulfilling work environment. Brenda and Camille share insights on setting up performance-based compensation, understanding the motivations behind partnership tracks, and avoiding common pitfalls in pay structure.Listen now to transform your firm's compensation strategy and drive growth while maintaining a thriving workplace culture!Chapters:[00:00] Introduction to Brenda Barnes and Camille Stell[20:01] Connecting compensation with your culture[30:24] How much should you compensate?[35:04] Compensation bias[40:26] Path to Partnership[46:03] The right time to implement strategic compensation plans[60:06] Brenda Barnes and Camille Stell's parting piece of adviceResources mentioned:Take the Law Firm Growth Assessment and find out how you rate as a law firm owner! Check out our Profit with Law YouTube channel!Learn more about the Profit with Law Elite Coaching Program hereBook your FREE strategy session today!: profitwithlaw.com/strategysessionSend an email to info@dreambuilderfinancial.com to get access to Motivate the Unmotivated with Performance Based Compensation, Moshe's talk from the Law Firm Growth Summit.Connect with Brenda Barnes: Website | Personal LinkedInConnect with Camille Stell: Website | Company LinkedIn | Personal LinkedInRespect: Insight to Law Firm Compensation by Brenda Barnes and Camille Stell - https://lawofficemanagementbooks.com/Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.Connect with Moshe on:Facebook - https://www.facebook.com/moshe.amselLinkedIn - https://www.linkedin.com/in/mosheamsel/
Brenda Barnes and Camille Stell, authors of “RESPECT - an Insight to Attorney Compensation Plans”, join us today for Personal Injury Marketing Minute #82 to discuss how to create a fair compensation plan for your law firm. In this podcast, we'll cover challenges creating pay structures for attorneys, components of an attorney's pay, transparency, compensation, evaluation, motivation, negotiation, and other tips for attorneys who are trying to create an equitable pay structure. Get “RESPECT - an Insight to Attorney Compensation Plans” here: https://www.lawyersmutualconsulting.com/books/respect-an-insight-to-attorney-compensation-plans/. See all episodes or subscribe to the Personal Injury Marketing Minute here: https://optimizemyfirm.com/podcasts/. Transcript coming soon.
In today's episode of the Wealthy Woman Lawyer® podcast, I sit down with Brenda Barnes and Camille Stell, renowned experts in law firm management and attorney compensation strategies. Together, we explore their insights from their book "Respect: An Insight to Attorney Compensation Plans," which delves into creating equitable, respectful compensation frameworks for law firms. With more than three decades in the legal and financial sector, Brenda Barnes, CPA, MBA, brings her expertise in law firm accounting, financial management, and compensation planning. Brenda has managed small to mid-sized firms, founded B2 Legal Management, LLC, and remains a sought-after consultant and speaker on optimizing financial operations within legal practices. Camille Stell, founder and President of Lawyers Mutual Consulting & Services, has made significant contributions to law firm succession planning, modernizing legal practice management, and supporting attorneys' career transitions. A nationally recognized thought leader, Camille is also the co-author of "Designing a Succession Plan for Your Law Practice" and frequently addresses contemporary issues in law practice management. Listen in as Brenda, Camille, and I discuss: The concept of "respect" in attorney compensation and its critical role in retaining talent within law firmsStrategies for developing modern compensation plans that promote transparency, equity, and inclusionThe impact of changing generational expectations on compensation models and law firm cultureChallenges solo and small firms face in competing with larger firms on compensationBuilding pathways to partnership and retention through innovative compensation structures LINKS TO LOVE: - Purchase "Respect: An Insight to Attorney Compensation Plans" by Brenda Barnes and Camille Stell" - To learn more about Brenda https://www.unanchoredjourney.com and Camille https://www.lawyersmutualconsulting.com/, visit their websitesWANT HELP GROWING YOUR LAW FIRM? If you are seeking help to grow a profitable, sustainable, wealth-generating law firm, check out my brand new *free* training—Build a Wealth-Generating Law Firm: 3 Strategies for Women Law Firm Owners That Double Your Revenue Without Doubling Your Workload.
In this episode, Steve, Camille, and Brenda discuss:Law firm compensation structures and challengesThe role of transparency in legal industry compensationSuccession planning and generational shifts in law firmsRecruiting and retaining legal talent in a competitive market Key Takeaways:Non-equity partnership tracks are becoming common, allowing lawyers to learn financial and managerial aspects before committing to buy-ins.Law school debt significantly influences young lawyers' careers, with some firms offering loan reimbursement to attract top talent.Compensation plans should align with a firm's goals and offer flexibility to retain high performers while balancing work-life needs.Origination credit structures can create competition within firms, but when managed well, they enhance succession planning and stability. "If you're willing to have conversations with people about what they want in life... you're speaking their love language at that point." — Camille Stell"I had a partner tell me a long time ago, 'I don't need any new clients because all of our conference rooms are full,' and I'm just thinking how short-sighted that could possibly be." — Brenda BarnesJoin Steve on November 15th for an exclusive 60-minute session focused on actionable strategies for business growth. Register now—seats are limited to the first 20 attorneys! Sign up here: https://www.fretzin.com/blog/category/events/ Thank you to our Sponsors!Rankings.io: https://rankings.io/Rainmakers Roundtable: https://www.fretzin.com/lawyer-coaching-and-training/peer-advisory-groups/ Episode References: Financial Feminist Podcast: https://podcasts.apple.com/us/podcast/financial-feminist/id1566054936About Camille Stell and Brenda Barnes: Camille Stell and Brenda Barnes are the authors of the newly published 2nd Edition of Respect: An Insight to Attorney Compensation Plans. Brenda and Camille are available for consults in succession planning, path to partnership, and compensation plans, including financial formulas for capital buy-in and retirement buy-out. Connect with Camille Stell and Brenda Barnes: Website: http://www.lawyersmutualconsulting.com & http://www.brenda-barnes.comBook: RESPECT - An Insight to Attorney Compensation Plans:https://www.amazon.com/RESPECT-Insight-Attorney-Compensation-Plans/dp/1734108665LinkedIn: https://www.linkedin.com/in/camillestell/ & https://www.linkedin.com/in/brendabarnes/Twitter: https://x.com/barneslegalmgmt Connect with Steve Fretzin:LinkedIn: Steve FretzinTwitter: @stevefretzinInstagram: @fretzinsteveFacebook: Fretzin, Inc.Website: Fretzin.comEmail: Steve@Fretzin.comBook: Legal Business Development Isn't Rocket Science and more!YouTube: Steve FretzinCall Steve directly at 847-602-6911 Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
Episode 104 is the first of hopefully a couple of talks I will have with people who are directly or indirectly involved with the upcoming 11th 100 mile walk that will take place in Seattle area in Washington, USA. Brenda Barnes lives in Kent, WA and is a member of Kent First Christian Church and supports her pastor and many other church members. She is also a major force behind the Kent CROP Hunger, a walk started by Dave (he passed away already) and Nancy Turner close to 31 years ago. The walk supports not only the work of CWS around the world but also local entities like the Kent Community Supper and the Kent Local Food Bank. Brenda loves her children and grandchildren (her 4 year old grandson Donovan is also part of this episode!) and you will hear that she is full of energy and light. Looking forward meeting her in person at the end of March. The songs picked by all our guests can be found via our playlist #walktalklisten here. Please let me/us know via our email innovationhub@cwsglobal.org what you think about this new series. We would love to hear from you. Please like/follow our Walk Talk Listen podcast and follow mauricebloem on twitter and instagram. Or check us out on our website 100mile.org. We also encourage you to check out the special WTL series Enough for All about an organization called CWS. Stay tuned for the 11th 100 mile walk that will take place from March 26 - April 1, 2023 in Seattle, WA area, find more info via de 100mile.org website. Or go straight to our fundraising page.
In episode 5 the legacy of an amazingly strong mother and woman, Brenda Barnes, is told through her daughter, Erin. If you google Brenda Barnes (and I suggest you do) you can learn more about her numerous and outstanding achievements as a business women. In the mid 90’s, at the age of 46, and with three children, Brenda Barnes held the title of CEO of PepsicCo. She was on Forbes list of 50 most powerful women for multiple years. And yet, Brenda said, she didn’t become famous until in 1996, when she quit Pepsico to stay at home with her three children. In her “Retirement” Brenda, stayed extremely connected in business, sitting on various boards. When her children were in high school, Brenda re-entered the workforce, becoming CEO of Sara Lee in 2005. That was until in 2010, when Brenda, one of the worlds most powerful, intelligent women sustained a stroke and in a blink of an eye, her world was changed forever. The roles were then switched. Erin, Brenda's daughter, stepped away from her career to care for her own mother. Something similar her mother did only 10 years earlier. Erin said, those years (caring for my mother) were my favorite times spent with her. **Check out this amazing video interview of Brenda and Erin at the 2012 Fortune Magazines Most Powerful Women Summit HERE: YouTubehttps://www.youtube.com/watch?v=2KNuyelWBp0 The world lost one mother in a million when Brenda sustained a second stroke just two years ago.. BUT Brenda most definitely lives on through her daughter Erin. Erin and I discuss the values that brought her success and dive into the remarkable relationship of mother and daughter with this duo. Whether you are a mother, daughter, caregiver, or are facing a challenge, Brenda's story, through Erin’s words, will motivate and help you become a better person for self and for those around you.
Brian Barnes is the CEO and Founder of M1 Finance, a startup making an automated investment tool that lets users put their money to work in a balanced portfolio without the hassle of actually managing it. Just a few years after graduating from Stanford, Brian raised $9 million and moved back to Chicago to build the platform. In This Episode You Will Learn: The motivation behind Brian starting M1 Finance How Brian went about launching a MVP in the heavily regulated finance industry How Brian raised $9 million pre-launch The benefits of robo-advisors over all ETFs What M1 Finance costs and how they plan to differentiate from other robo-advisors How Brian got his first customers What Brian has learned about life and business from his mom Brenda Barnes, Former CEO of Pepsi and Sara Lee? What the most effective marketing channels have been How M1 Finance's message has evolved over time How to communicate a relatively complicated product to consumers quickly The importance of design in fintech Why Brian moved back to Chicago after going to Stanford and whether he thinks it matters Why Chicago has to improve our risk appetite Selected Links From The Episode: Favorite Books: Sapiens: A Brief History of Humankind by Yuval Noah Harari The Count of Monte Cristo by Alexandre Dumas père Behave: The Biology of Humans at Our Best and Worst y Robert M. Sapolsky
005 Kim Feil Shares How to Accelerate Your Career Now Kim Feil gives incredible insights into what it was like to be a 6 time Chief Marketing Officer and her journey to achieve executive leadership. Her background includes being a retailer, general manager, consultant and ecommerce leader in marketing, sales and strategy at OfficeMax, Walgreens, Sara Lee, Kimberly-Clark, Information Resources Inc., Dr Pepper/7UP and Frito-Lay, giving her a unique 360-degree multichannel perspective. If you are ready to rock your career then you are going to love this episode! Show Notes: 0:01 Natalie shares how she followed up on listener’s request to have career insights by inviting Kim Feil on the show. 2:14 Natalie and Kim first met at an HBA (Healthcare Businesswomen’s Association) Chicago program. They talk about how important creating your own Advisory Circle and why it is so helpful 2:38 Kim talks about women who expressed not liking networking and she asks: “What do you think Networking means? It isn’t about creating a big fat rolodex it is about learning from people within, across and outside your industry so you can learn from them.” 3:40 Kim and Natalie discuss how Kim met three executive women who were on the HBA panel, 14 years ago-how they have helped each other with support and advice. 4:14: What was it like to have Brenda Barnes, former CEO of Sara Lee and Pepsi Co. as a mentor early on in Kim’s career in 1984. She describes how Brenda cultivated her teams to hit high goals. Brenda was a role model for Kim over her career. 5:06 Brenda Barnes achieved great results-not because she was a woman. It was her leadership that really made her a great CEO. 6:15 Kim describes what happened when Brenda Barnes decided to take 7 years off to raise her children and how she was asked - aren’t you taking a step back. Even Katie Couric questioned Brenda about leaving to go take care of her children. When Brenda came back to work she was all in and unfortunately at age 55 had a debilitating stroke and had her second stroke that eventually ended her life. 6:59 Brenda’s story is an example of how we are “executive athletes” and we don’t think enough of what that means to our overall well-being. 8:10 Kim describes what it is like to work as an executive and that you are there to make change happen. She shares her personal experience of what it is like to be at the top and how so much of your time is taken up with administrative activities like HR decisions and while they are all important they aren’t necessarily directly related to improving the business or team performance. 10:00 How to manage a time in times of change-The basics are what works. Every job is demanding, it is really important to be a leader who gets results and not an administrator. You have to have a highly talented team who work really well together. You have to be a caring leader and know how to determine whether you have the right talent on your team. If you surround yourself with great people your team will flex. You have to really trust your people and not be a micro manager. You have to play general on the battle field. You have trust if you have good talent they will follow you. Set expectations regularly so that your high performing team knows what is coming up. You have to be responsive and communicate clearly so there are no surprises 13:10 How Women can be seen as a leader. 13:43 Top Five Tips about Leadership Don’t be seen as a leader-be a leader. Face time, long hours at the office isn’t a sign of a great leader. Great leaders need to be able to express a solid, simple vision. Be able to Engage your talent so they understand the vision. You have to get results-you can be loved but if you don’t hit the numbers, you won’t ever be viewed as a leader. In the end you are judged not by what you do but how you do it. 14:44 The How is really what people are looking to: It is good to ask yourself: “If someone had to describe me as a leader right now, how would they describe me?” “What would they say I do really do well, and what would they say I don’t do really well?” Work on the things you don’t do really well. 15:30 People think hours equate to the results-instead of focusing on results. Kim adds that she “watches young leaders all the time try to get to perfection the real truth, is that in today’s fast moving environment, having an answer that is 85-90% accurate in half the time and execute well against it is better than having an answer that 101% perfect answer and be late. 16:39 Many people slave away over the last 2-5% instead of getting the job done. Don’t be late to get to 100%. 17:27 There are numerous studies that women will stand back and wait until they are fully qualified. The real “acid test” is not whether you have all the boxes checked but whether “you believe you can be successful in the role.” 18:15 If you can see how you can get results go for it. The worst thing you can do is stretch into a role that you aren’t able to do. Kim describes a situation where a woman might take on a new role with a great title and fail at it and lose her job instead of working her way toward the promotion. 18:57 In her career Kim had been approached by IRI CEO’s to consider a different role and at face value they may not have seemed like a fit. She knew what the clients wanted and got along well with the tech people and launched Ecomm program and made $10 million in 6 months. 18:18 It is also o.k. to accept a position and say that you would like to fill a position to round out the team. One of the top positions Kim has always had is a financial guru to be able to get a full picture and advice. 21:42 How to Get Promoted in your organization- Kim describes her background and how she got to see the world from a 360 degree view. She worked at Frito Lay, Dr Pepper/7UP Sara Lee, consulting firm IRI and then two retailers Walgreens and Office Max. Kim got to see the world from all 3 sides. Five Career Planning Tips: Make sure you are always thinking ahead of the business, if you see there is an opportunity in another function. Step back and connect your capabilities to that function. Ignore the literal job description, look to find a way to do what your vision is for the position. “Your career is yours”, if you want to go from here to there don’t wait for people to let you do it. Don’t have any barriers-think of which way you want to expand your capabilities. Build a broad base of capability, technical and leadership. You don’t have to grow vertically you can grow laterally and gain the skills you need to move forward. Your career is a marathon not a sprint 26:46 Kim describes what it was like making a pivot four years ago and how much she is enjoying being an entrepreneur. 27:27 What does it look like to launch a new career for the next 20 year chapter? When she set out on this journey, Kim set 4 goals to achieve: Be CEO of emerging company Get on a public board Go deeper in volunteerism and fundraising, devote more meaningful time to that Learn all she could to learn about entrepreneur and the venture capital system Within 8 months, she was CEO, she served on 3 boards and chaired American Heart campaign and broke records and met private equity firms who could teach her how venture capital works. 28:41 if you are a person with a lot of curiosity and can parlay your experience, then go for it! 29:50 Kim discusses how to draw boundaries in corporate life and also as an Entrepreneur. How to get a lot more done in a lot less time and be flexible but it is still hard work you are taking risks. 31:41 The obvious way to stay energized is to stay healthy. In addition, doing more fulfilling things like having time to mentor and do charity work makes a difference. 32:14 How mentoring people helps you learn from others and give back 32:39 How to have the purpose driven life- finding joy. 33:26 How to stay on track with time management-plan the month and have a rigorous to do list by business type or volunteerism. 33:20 As an entrepreneur there are still only 24 hours in a day. Block time, review a calendar and not over schedule. 34:10 Favorite Book- The Pursuit of Wow by Tom Peters; there are two to three page case studies and is easy to read in short increments. 35:20 Learn more about Kim Feil: She is CEO of bizHiv www.bizhiv.com She is the lead investor for Aspire Healthy Energy Drinks www.aspiredrinks.com healthy drink no carb with lots of B vitamins. You can find also find Kim on LinkedIn 36:40 Last Word of Advice: Just enjoy your career-the days when it feels really hard remember life is more than that and really LeanIn in to it. If you liked what you heard find out how to subscribe by going to www.rockyourtradeshow.com. You can also get the free download of today’s episode with the key tips Kim shared at www.rockyoutradeshow.com/kim Credits: Sound Editing by Emerald City Productions.
In recognition of Parent Leadership month Dr. Patty interviews Brenda Barnes, recently reappointed by Prevent Child Abuse NC as a member of the Parent Leadership Network. Grab a cup of joe and let Dr. Patty motivate you to start your day. Join us at 7:30 am
Parents play an important role in shaping the lives of children and families. Parent Leadership month is a time to recognize individual parent leaders whose contributions make a positive difference to their families and communities. This month we are recognizing our guest, Brenda Barnes. Brenda was recently reappointed to serve as member of Prevention Network Leadership Team for Prevent Child Abuse North Carolina. Every community needs to have parent leaders who are working in the trenches everyday to create a secure and loving environment for children who may be at risk or who have special needs. Join us every Wednesday at 7:30 am and grab a cuppa joe for your body, while Dr. Patty's inspirational messages fire-up your mind!