Set Revenue Goals That Actually Matter: How Law Firm Owners Can Build a Business That Funds Their Life

TLTurner Group
May 7
3 min read

Feeling burned out chasing bigger and bigger revenue goals? We can relate—and it’s not your fault. Law firm owners across the country are stuck in a loop of scaling, growing, and pushing for more... without asking a critical question:

Is this revenue goal actually aligned with the life I want to live?

If you’ve ever left a legal conference overwhelmed by other people’s numbers or found yourself chasing someone else’s version of success, this post is for you.

The Problem: Chasing Someone Else’s Revenue Goal

At TL Turner Group[, we hear this all the time:

"I’m doing all the right things. I’m networking. I’m going to events. I’m hiring help. So why am I still frustrated?"

Often, the answer comes down to this:

You’re building toward someone else’s dream—not your own.

Maybe you hit your first $2M year. Now everyone’s talking about $5M. Then $8M. Then eight figures.

But if you haven’t paused to ask why, you’ll end up grinding toward a number that doesn’t reflect your real goals.

The Shift: Define Your Lifestyle, Then Reverse-Engineer Your Revenue

Here’s what we recommend to every law firm owner:

Start with your ideal lifestyle—and work backward.

Instead of asking “How do I grow to $10M?” ask:

What kind of lifestyle do I want to live?
How much income do I need to live it?
What would make my work joyful, sustainable, and purposeful?

Once you define your income target, you can calculate what your law firm actually needs to generate.

The Golden Financial Formula for Law Firms

Let’s say your desired personal income is $750,000 per year. Here’s how to figure out what your law firm revenue needs to be.

💡 Golden Formula:

Revenue = Desired Profit + Firm Operating Expenses + Buffer

Break it down:

Profit: Your take-home income goal (e.g., $750,000)
Expenses: Total business operating costs (salaries, rent, tech, etc.)
Buffer: Emergency and reinvestment cushion (typically 5–10%)

So if your total annual expenses are $2.5M and you want $750K in profit, your revenue goal becomes ~$3.5M–$4M.

Now, that $4M target has meaning. It’s not arbitrary. It’s a number that unlocks your lifestyle.

Why This Approach Works

When your revenue goal is tied to something deeply personal, like:

Spending more time with family
Retiring early
Traveling without checking your email
Giving generously to causes you care about

...you’re no longer chasing vague “bigger is better” growth. You’re running your firm with clarity and purpose.

What Happens After You Hit That First Lifestyle-Aligned Goal?

Something beautiful.

Once you hit a meaningful revenue target (like that $4M mark), you stop building from a place of pressure. You may choose to grow more—but it’s from a place of expansion, not desperation.

You’ll also notice:

Improved team alignment
Greater confidence in decision-making
Stronger work-life balance
Motivation that actually lasts

Before You Adjust Your Goals Again, Ask This:

Is this my goal—or someone else’s?

Before you change direction because of a podcast, panel, or peer, hit pause. Reflect on what you want your firm to provide for your life.

That’s where real progress begins.

Next Steps: Build a Firm That Funds Your Life

Ready to put the Golden Formula to work?

Book a Call

At TLTurner Group, we help law firms take control of their numbers with simple, strategic financial planning. From bookkeeping to fractional CFO services, we speak your language—and we understand your business.

📩 Email: contact@tlturnergroup.com 🌐 Website: tlturnergroup.com