Get 90 Days Closer to Your Goals in Business and in Life
In life and in business, it’s so important to have goals. You always want to be moving forward and growing, and the only way to make that happen is to set clear, achievable goals so you know where you’re going and when you get there. Unfortunately, too many people set a goal and never reach […]
Can Your Law Firm’s Billing Process Help You Make More Money?
The numbers are in. Study after study has shown that one problem keeps topping the charts and plaguing law firms: collections. Now, when I say “collections,” I’m not talking about shakedown phone calls from a debt collector. I’m talking about the entire end-to-end process of making sure you actually collect the money due on your […]
“What the heck is the difference between a budget and a forecast?”
If you’ve heard people throwing these terms around, you may be wondering what the difference is and if you need one or both. One of these things is not like the other A budget and a forecast are two different things. A budget is your goal for the year. You can create a master budget […]
Could this one number equal a huge increase in profitable revenue for you? (these are the numbers most people don’t think about)
If you know me, you know how much I love to talk about financials. I am a CPA, after all, and it’s my job to love those numbers. But there’s another number in the Clio Legal Trends Survey that could have a HUGE impact on your revenue and profitability. It could boost your revenue by […]
Is your law firm losing $1,570/day in revenue?
What would you do if you found out someone was stealing $1500 from your firm every day? What if you discovered that an employee was embezzling $1500 from your firm every single day? Contracts terminated, charges filed, and probably some new security measures in place? That’s what I thought. Now, what if I told you […]
Your Firm is probably earning more than you realize. here’s why…
Going into a new year, everyone has big goals and big dreams. You want to increase your profits but that can be a scary proposition and it can feel unachievable. Where do you even start? Luckily, there are some simple steps you can take and you’re likely already bringing in more than you realize. Let […]
3 Mistakes that are reducing your law firm profits
Although non-lawyers like to think that attorneys swim in pools of cash, most law firms’ profits aren’t nearly as high as they should be. Sometimes, it’s a major failure causing the problem. In many cases, it’s the little things that add up over time. Here are three strategic mistakes I see all the time that […]
3 Things You Need to Hit Your Profit Goals This Year
Okay, it’s actually four things you need. Because the first thing you need is a GOAL! If you’re striving for a certain number of billable hours or a certain revenue number but don’t have a target profit margin, you need to get one. How will you know if you’re on track if you don’t have […]
Where did my profit go?
Where did my profits go? One of the most common questions I get is “Where did my profits go?” Typically, I’m asked when I’m going over financials with a client and they notice the profit on their Profit & Loss statement looks nothing like the balance in their bank account! Let’s talk about why that […]
Do you have to spend money to make money?
Do you have to spend money to make money? It’s an age-old question, but I think it may be the wrong question. It can lead us in the wrong direction and get us focused on the wrong things. So let’s take a lot at this question, try to answer it, and also answer all the […]
