Law Firm Profitability: How to Identify and Eliminate Hidden Costs
As a law firm, achieving profitability is crucial for long-term success. However, it can be challenging to identify and eliminate hidden costs that eat away at your bottom line. In this blog post, we will explore strategies to help you optimize your financial performance and maximize your law firm’s profitability. Understanding the Importance of Profitability […]
Taming Time Theft: Strategies to Maximize Billable Hours
As a law firm owner, you know that maximizing billable hours is crucial for the success and growth of your business. However, it’s easy to fall victim to “time theft” – the practice of wasting time on non-billable activities that can eat away at your profits. In this blog post, we’ll explore strategies to help […]
Mastering Financial Success: 5 KPIs Every Law Firm Owner Should Track
As a law firm owner, you’re not just in the business of practicing law; you’re also running a business. And like any business, keeping a close eye on your financial performance is crucial for long-term success. Key Performance Indicators (KPIs) serve as your compass, guiding you towards financial health and stability. Here are five essential […]
Demystifying Trust Accounting: A Guide for Law Firms (and Your Peace of Mind)
As guardians of justice and protectors of client interests, law firms shoulder a significant responsibility when it comes to handling client funds. Trust accounting, often viewed as a labyrinth of rules and regulations, is a crucial aspect that demands meticulous attention and unwavering compliance. In this guide, we aim to demystify trust accounting, providing law […]
Streamlining Law Firm Accounting: Top Tech Tools & A Free Toolkit to Boost Efficiency
Lawyers wear many hats. They’re legal strategists, client confidantes, and sometimes, even budget managers. But for most firms, accounting tasks can be a major time drain, diverting focus from billable hours and client service. The good news? Technology has your back. Here are some top tech tools that can revolutionize your law firm’s accounting, saving […]
10 Mindset Shifts To Make More Money In Your Business
Are you struggling to take your business to the next level? Maybe you feel like you’re doing everything right, but you’re still not seeing the results you want. The truth is, making more money in your business isn’t just about tactics and strategies – it’s also about your mindset. In this blog, I’m going to […]
Is It Time to Consider a Fractional CFO for Your Law Firm?
Are you feeling overwhelmed by the numbers in your law firm? Do you find yourself struggling to understand what they truly mean? If so, it might be the right time to consider hiring a fractional CFO. When we first start our small firm, it’s relatively easy to manage revenue, expenses, and profit. But as we […]
Easy Tips to Keep Your Law Firm Safe from Fraud
Running a small law firm takes a lot of heart and hustle. But in all the busyness, it’s easy to miss some sneaky threats to your finances. Let’s talk about some common financial fraud and give you some straightforward tips to protect your hard-earned cash. Accounts Payable Fraud It’s crazy how small amounts can sneak […]
Avoiding Tax Headaches: Common Financial Mistakes Law Firms Make
Running a law firm comes with many challenges, especially when it comes to managing money. While many firms hire bookkeepers mainly for tax filing, having accurate financial records is important for more than just taxes. As a CFO with many years of financial experience, I’ve seen how problems related to taxes can have a negative […]
A Simple Guide to Financial Forecasting for Law Firms
We are going to discuss something really important for your law firm: financial forecasting. It might sound complicated, but it’s just a way to predict how your firm’s finances will look in the future based on what’s happening now. This is super important for making smart decisions, spotting any problems early, and grabbing opportunities to […]
