Doug interviews Gretchen Lennon, founder of Lennon Legal, a boutique law firm specialising in startups and early-stage companies in everything from funding rounds and employee share options, to commercial contracts and data protection and plenty in between. What starts as a discussion about legal entrepreneurship transforms into a fascinating exploration of work-life balance, goal setting, and the courage to take calculated risks. From trading corporate law life in London for skiing in Verbier to building a successful remote legal consultancy, Gretchen's experiences give inspiration to anyone considering a major career change or struggling with entrepreneurial challenges. The conversation also takes an unexpected therapeutic turn as Doug helps Gretchen confront her work-life balance struggles.

KEY TAKEAWAYS

·       After leaving her corporate law career in London, Gretchen discovered that running her own business led to working longer hours, not achieving the freedom she initially sought

·       A chance encounter with a client while working as a chalet manager in Verbier opened her eyes to the possibility of becoming a consultant lawyer

·       Starting with one short-term contract, Gretchen gradually built Lennon Legal into a team of 10 lawyers, proving you don't need a grand plan to build a successful business

·       Despite living in a famous ski resort, Gretchen found herself prioritising work over her personal life, highlighting how entrepreneurs can lose sight of why they chose independence

·       Her perspective on success evolved from wanting to build a large, financially successful law firm to creating a business that fits her desired lifestyle

·       Working with a business coach helped Gretchen recognise the importance of scheduling personal time first, as it won't happen naturally

·       Rather than staying paralysed by fear, Gretchen used Tim Ferriss's approach of thoroughly analysing worst case scenarios to take the leap into entrepreneurship

·       Through growing her business, Gretchen learned that delegation and building a team of specialists was more effective than trying to handle everything herself

BEST MOMENTS

"I really thought I was some sort of Ally McBeal meets suits and then I guess I kind of got to my late twenties and just sort of felt a little bit burnt out." 

"You can't have a work life balance that doesn't exist. You know, because you're either in work or you're in life, so you can't balance between the two and have it all" 

"As an entrepreneur, even when, in fact, I would almost go so far as to say, especially when things are a little bit quiet. That's when you have an even greater sense of guilt." 

"I quickly realised that this sort of concept of becoming completely destitute and, you know, running out of money and not having any clients and whatever actually really just sort of played out as, okay, I'll give it a go." 

ABOUT THE GUEST

lennonlegal.com

https://www.linkedin.com/in/gretchen-lennon-55455664/

VALUABLE RESOURCES

Website: http://dougbennett.co.uk/

Email: doug@dougbennett.co.uk

LinkedIn: https://www.linkedin.com/in/financialdoug/

Twitter: https://twitter.com/FinancialDoug

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Think Simple, Win Big is now live and available to buy on Amazon: https://www.amazon.co.uk/Think-Simple-Win-Big-Business/

Enjoy, and come back for the latest podcast each Wednesday. Thank you for listening.