What Medical Leave Taught Me About Law Firm Financial Health

TLTurner Group
May 8
3 min read

Updated: May 10

At 13 years old, I was pulled from sports and put on medical leave. It was a complete shock—and a defining moment in how I approach health, discipline, and preparation.

Little did I know that experience would later shape the way I help law firm owners and entrepreneurs think about financial health.

And here’s the truth:

Most law firm owners spend too little time protecting the health of their business until it’s too late.

The Medical Scare That Changed Everything

Growing up, I was your typical active kid. I played soccer, football—anything that kept me moving. But during a routine physical at 13, my doctor noticed something alarming: a significantly irregular heartbeat.

His advice? No more sports. Full medical suspension. And a warning that if I kept playing, I might pass out and die on the field.

That year changed my life.

I learned what it meant to:

Pay attention to warning signs
Control what you can control (diet, sleep, stress)
Build long-term habits to avoid crisis

These lessons aren’t just about physical health—they apply exactly to running a business.

Financial Health Is Just Like Physical Health

Just like the heart powers the body, your finances power your business. But too often, law firm owners:

Don’t assess their financial condition
Ignore key warning signs
Focus on revenue but not profitability
Overextend their spending and debt

So here’s the critical shift:

Stop reacting. Start planning.

Step 1: Know What You Can Control

There are things you can control in your business:

Your spending habits
Your pricing strategy
Your cash flow management
Your staffing and tech investments

And there are things you can’t control:

The economy
Market demand
Whether a lead says yes or no

The key is to focus on what’s in your control—and build strength from there.

Step 2: Start With a Financial Health Assessment

When we work with clients, we begin with a Financial Health Assessment—a deep dive into:

Profit and loss trends
Revenue sources
Margin strength
Expense allocation
Debt structure and liabilities

You’d be surprised how often we find law firms investing in the wrong areas—marketing underperforming services or ignoring their most profitable practice area.

Step 3: Align Your Spending With What Works

Let’s say your immigration law services generate the most revenue—but you’re funneling ad dollars into family law campaigns. That’s a mismatch.

Ask yourself:

Are you investing where your money is being made?
Have you staffed your high-growth areas properly?
Is your tech stack supporting or draining you?

Once you answer those questions, you can begin aligning your spending, staffing, and systems with the heart of your business.

Step 4: Examine Your Debt (Is It Helping or Hurting?)

Like cholesterol in the body, debt can clog your business’s financial arteries.

We help law firm owners:

Evaluate short- and long-term debt
Strategize payoff plans
Differentiate between strategic and reactive borrowing

Carrying too much debt will slow your growth. But when used wisely, financing can help you scale responsibly—if you have a plan.

Step 5: Forecast Future Scenarios

Want to hire two new associates? Launch a new practice area? You need to stress-test your numbers:

Can your current revenue support it?
Will your pricing and pipeline sustain those hires?
Do you need to raise rates or improve retention?

Like a cardiologist mapping out a heart under pressure, we help business owners model scenarios before they make the leap.

What You Can Learn from a 13-Year-Old on Medical Leave

After a year of being benched, I was cleared to play—and I never had another issue. Why? Because I prepared. I changed my habits. I built resilience.

The same is true for your business.

Your business doesn’t need to collapse before you change how you operate. The warning signs are already there—you just have to look.

Next Steps: Build a Financially Healthy Firm

If you’re unsure where your firm stands or how to strengthen it, we’re here to help.

📞 Book a Discovery Call

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📥 Get our Financial Health Calculator

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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