A couple of months ago, I made my first overseas trek since 2017 – not for vacation – but to meet with the rest of the Fritz Financial Solutions team of accountants in the Philippines. It was important to me to show these women the time and attention needed to...
Client Spotlight: Andrea Freidman
As a business owner, one of the most significant challenges to overcome is work-life balance. This dilemma has only been exacerbated over the last several years and forced many “traditional” industries, such as the legal profession, to change their ways. Long before the Pandemic, Friedman Law Group addressed self-care while cultivating a supportive culture, which continues today!
Currently, women make up only 38% of lawyers. That number is far smaller for seasoned professionals and highlights how difficult it can be for mothers to maintain a legal career. Many women have left law to pursue other opportunities and find the support they need to become successful businesswomen. The mission and founding principles of Friedman Law Group are slowly changing that narrative. Please take a behind-the-scenes peek at this successful law firm as Fritz Financial Solutions client Andrea Friedman shares her story, mission and passion.
Who is Friedman Law Group?
Friedman Law Group is a boutique law firm specializing in marketing and branding, including events, experiential marketing and influencers, representing exciting, fresh brands and companies.
What I love about this specialty is that it is fast-paced and ever-changing. We are a small but mighty team of women who support each other and always jump in to fill any gap. There is so much satisfaction in watching a brand grow and accelerate!
And how did you get started in law?
The funny thing is that I was never interested in pursuing a career in law. I took the LSAT alongside a friend to encourage her, and I did well, but I abandoned that career path before it began. Instead, I traveled from Chicago to Washington, D.C., to start my career as the legislative assistant for Congressman James Blanchard. Then, I returned to Chicago to become the executive director of a not-for-profit organization. After this position, I shifted my long-term goals, and that was when I truly set my sights on practicing law.
During law school, I discovered that corporate law was genuinely fascinating. The business knowledge I gained was priceless. But after law school, I joined my first firm and quickly learned that law was not a warm and friendly environment for a woman raising a family. With my family growing, I realized that others in the firm began treating me differently. Everybody was coddling me as if I could no longer handle my position.
I began feeling trapped, and it was around this time I received a call that changed my life and career. The general counsel of a large advertising agency needed a corporate lawyer. I accepted the position and finally found my passion that would lead to the start of Friedman Law Group.
I just knew there had to be a better way to be a lawyer without burning both ends of the candle. So when I finally decided to walk away from big law and opened one of the first virtual firms, I did so based on family values and a need for balance.
What is a recent challenge or success your business had?
Covid caught us (and pretty much everyone else) off guard. Since we had already been working virtually as a team, we were lucky to maintain smooth internal communications, an issue we saw other firms having difficulty mastering. But we struggled with canceled events and being unable to meet at clients’ locations. Our clients needed reassurance that nothing would change through the inability to meet in person. We quickly pivoted and mastered the legal online space and social media, ultimately turning the situation into a major victory.
What’s the biggest obstacle you faced in growing your business
One of the biggest struggles has been that our business model doesn’t leave much time for marketing. As a result, it has been a considerable obstacle to growth. Since we believe in relationship-building for marketing, it puts extra pressure on me, the business owner, to carve out the necessary time.
Finding a balance between doing client work, for which you are paid, and working ON the business, for which you do not get paid, is tricky. And because we focus so much on work/life balance and avoiding burnout, something has to give, and it is never our clients. We often find ourselves stuck between the desire to grow and demanding caseloads. Growing takes time and patience when you do it organically.
What is an important decision you made where having accurate financial data made the decision easier?
Accurate financial data has helped align our goals and decisions in so many ways. We’ve worked hard to find our sweet spot between the value we offer and the work we do. Getting clear on the financial data allowed us to find the right clients to help while still maintaining a profit. We know exactly what clients are paying us for and we are making the right amount of money. As a result, client satisfaction and profits have increased tremendously.
What was a financial-related challenge you had before you met Fritz Financial Solutions?
Before FFS, I knew what I was bringing home but had no idea how to do a financial analysis of where the business’s strengths and financial challenges were. I needed to pinpoint any weaknesses which seemed impossible to accomplish!
When I first met with Fritz Financial Solutions, I instantly felt that we needed to work together. I’ve taken many courses in financial statements for lawyers, but Daliah has really shown me what these things mean, and she provides excellent advice on how to move forward based on our analytics.
What would you say to a business that hasn’t engaged with a financial services company like Fritz Financial Solutions?
I would say you’re missing half your picture. Most businesses may have an innate sense of what the company is doing financially, but owners don’t always understand what you need to do with it. They are missing out!
If you feel you are missing out or need to identify your financial weaknesses, contact Fritz Financial Solutions to master your finances.
What solution can Fritz Financial find for you?
Schedule a meeting with Daliah Fritz