From Rock Bottom to Multimillionaire with “The Lawman” Bill Umansky
On this episode of Ms. Biz, we had the pleasure of sitting down with Bill Umansky, affectionately known as “The Lawman.” With over 30 years of experience in law, Bill shared insights into his journey as an attorney and business owner that left us both inspired and enlightened.
From Humble Beginnings to Legal Success
Bill’s story is one of transformation and resilience. He openly discussed his challenging upbringing, which included struggles with drugs and alcohol in his youth. However, these experiences became the driving force behind his passion for helping others and offering second chances.
“I feel like from COVID changed my dynamic of having integrity, and also knowing what I would do. I’ve saved two people’s lives before.”
Today, Bill runs a successful law firm specializing in personal injury and criminal defense. He shared how he built his practice from the ground up, learning valuable lessons about delegation and business management along the way.
The Challenges of Growth and Delegation
One of the most insightful parts of our conversation revolved around the challenges of scaling a business. Bill emphasized the importance of delegation, even when it’s difficult:
“You can’t have it both ways. You either scale or you can’t scale. And so if you are really, really proud of your work product… you’re going to acknowledge that in the beginning, you’re going to hire people that may or may not be at your level.”
He stressed that mistakes will happen, but they’re a necessary part of growth. The key is to maintain a growth mindset and not let fear of imperfection hold you back.
Authenticity in Business
We discussed the pros and cons of being authentic and open about personal struggles in a professional context. Bill’s approach has been to embrace his full self, including his past challenges. While he acknowledged that this openness might occasionally cost him business, he believes the benefits of genuine connection outweigh the risks.
Work-Life Balance and Family
Bill shared insights into balancing a successful career with family life. He talked about his approach to parenting, emphasizing the importance of instilling a strong work ethic in his children despite their privileged upbringing.
Advice for Aspiring Entrepreneurs
When asked for advice for newer business owners, Bill shared a powerful metaphor from Navy SEAL training:
“Take the first step, then take the next step. Don’t look at the outcome of your mission. Just take the step.”
He also emphasized the importance of looking back at how far you’ve come, rather than getting overwhelmed by how far you still have to go.
Conclusion
Our conversation with Bill Umansky was filled with valuable insights on business growth, personal development, and the power of authenticity. His journey from troubled youth to successful attorney and business owner is a testament to the power of resilience and the importance of giving back.
We’re grateful to Bill for his openness and willingness to share his experiences with our Ms Biz community. His story serves as an inspiration for entrepreneurs at all stages of their journey. Make sure to listen to both parts of his episode!