3 Most Shocking Things I Learned After Hiring a Fractional CFO

This article was contributed by Emily LaRusch, Founder of Back Office Betties, a boutique receptionist and intake company exclusively serving small law firms. She has an insatiable thirst for learning and is the happiest coaching and collaborating within the entrepreneurial community. She has been featured in Entrepreneur, Associated Press, BBC News and serves as an educator for Inmates to Entrepreneurs.  Being Read More

Change Your Firm’s Money Situation with Profit First by Mike Michalowicz

*Disclaimer* This is NOT a paid advertisement. We actually really believe in this book. Have you ever wondered why your firm has little to no profit at the end of the month or year? According to your financial statements, you’re making money, so where’s the profit? Your reaction is to get worried about the upcoming year ‌and‌ ‌start‌ ‌focusing on‌ ‌how your firm can make even ‌more‌ ‌money. Profit First by Mike Read More

070 – Upleveling Your Business with Wendy Brookhouse

Many business owners may understand their P&Ls, balance sheets, and budgets, but they don't really talk about their money. Financial advisor Wendy Brookhouse is out to change that, and joins us this week to provide tips and insight on how you should be thinking about and approaching your money. Take the first steps toward truly understanding your money at www.totalwealthscore.com Read More

How to Create Your Firm’s Marketing Budget

As a firm owner, surely you have a master budget that you keep track of and update regularly. For many firms, Marketing may just be a line item and a catch-all for anything marketing-related they plan on doing. However, if you want to better track your marketing’s ROI and take control of how your hard-earned revenue is being allocated, start by revising your budget. Remember: all marketing is not created equal. Read More

4 Billing Strategies That Expedite Payments

Practically all professional firms rely on efficient legal billing. Without it, there’s a negative impact on the firm’s cash flow and profitability. Over time, it becomes impossible to thrive. While slow invoice payments can happen for a number of reasons, inefficient billing is usually at the root of the problem. Invoices go out randomly or contain information that makes it hard for the client to understand what Read More

Even Out Your Cash Flow: 6 Steps to Less Money Stress

Most people don’t think of law or financial advising as seasonal businesses, but every lawyer we know has a busy season and a slow season. This varies a lot depending on the type of law in question, but it always has the same result: Uneven revenue that makes you want to tear your hair out!  Other small businesses have this problem too. In busy times you’re flush with cash, and in slow times you have to tighten Read More

062 – Raising Your Rates with Moshe Amsel

What started out as a discussion on business goals turned into an even better discussion on why you should raise your rates RIGHT NOW. Moshe Amsel is a law firm coach and financial strategist, and we talk about how most, if not all firm owners aren't charging the rates they're truly worth. Listen to this great conversation and strongly consider raising your rates today. You can learn more about Moshe and his firm Read More

Law Firm Billing: Five Ways To Ensure Your Clients Pay On Time

This article was contributed by our friends at PracticePanther. This practice management software streamlines workflows, supercharges profits, and helps you increase client satisfaction. Billing clients is foundational to success at any firm, but oftentimes business owners struggle to receive payments on time, if at all. For an essential business function like getting paid, one would think it would be as simple as Read More

A Quick Thought on ROI – LFMM 392

ROI is a big point of concern for small business owners, especially lawyers, when it comes to anything they invest in. That includes marketing. But before you even concern yourself with ROI, you first have to truly believe that whatever marketing initiative you're about to undertake will actually help you accomplish your goals. We discuss on this week's episode. Read More

035 – Selling Your Business Tax Free with Ashley Tison

The goal for almost every business owner is to one day sell for top dollar and get the most out of their lifelong investment. Whether you're approaching retirement age, a serial entrepreneur, or you're planning your eventual exit, our guest this week, Ashley Tison, is here to help. We also discuss Opportunity Zones and the potential benefits they can provide your business. Learn more at www.ozpros.com/save50 and Read More