Category : Cash Flow

The Dangers of Growing Your Law Firm Too Fast

Mar 14, 2019

As an entrepreneurial attorney, you naturally want your law firm business to grow—and my own firm is built around providing law firms with the tools and techniques needed to cause tremendous growth. But when those tools and techniques actually start producing results—and they will—are you prepared for the growth? What happens if your business grows […]

Law Firm Success Begins with Starting Where You Are

Law Firm Growth Tip: Start Where You Are, Not Where You Want to Be

Feb 14, 2019

Have you ever watched a skyscraper being built? It’s a fascinating process. Watching a building grow taller week after week can be almost exciting. But if you’re around at the beginning of it, you’d almost never realize what was about to happen. In fact, it’s downright boring. Clearing the land. A lot of trucks and […]

How to Leverage CLE for Greater Revenue for Your Law Firm

Increasing Revenue for the Firm: When CLE Is Probably NOT the Answer

Sep 20, 2018

When treated as a strategic tool, Continuing Legal Education (CLE) can definitely create a revenue boost for your law firm. However, there may be other problems restricting your cash flow that CLE will not solve—and deferring to it in those cases basically amounts to procrastination from dealing with the real problems plaguing your business. Let’s […]

How to Leverage CLE for Greater Revenue for Your Law Firm

Increasing Revenue for the Firm: When CLE Might Be the Answer

Sep 13, 2018

Continuing Legal Education (CLE) is frequently a double-edged sword for attorneys. Some states require lawyers to take a certain number of CLE courses to keep their licensing current. In other cases, we need CLE if we want to focus on a particular concentration or to remain current. Even so, going back to school—even a little […]

Why You Need the Support of Your Family in Building Your Law Firm, and How to Secure It

Getting “Buy In” From Your Family to Build the Law Firm of Your Dreams

Sep 6, 2018

Life is not a solo act. It’s a huge collaboration, and we all need to assemble around us the people who care about us and support us in times of strife. –Tim Gunn   No man is an island unto himself. –John Donne   You can’t conduct business in a vacuum, and you won’t achieve […]

law firm clients late payments

Strategies for Getting Your Law Firm Clients to Pay You Fairly and Promptly

Aug 15, 2018

We’ve previously discussed that, as a law firm offering professional services, you should expect clients to pay you in a timely manner. However, rather than simply demanding payment, you can take steps to make it easier and more convenient for them to pay on time than to pay late. Let’s discuss a few of these […]

law firm clients late payments

Why You Need to Make Sure Your Law Firm’s Clients Pay You, and On Time

Aug 9, 2018

We’ve all been there. You put in plenty of hours in good faith to perform legal services for a client, you send the bill, and when it comes due…crickets. Late payments have become so common, in fact, that most of us just think of it as a fact of life. Need proof? Consider the following: […]

problem clients

The Wisdom of Saying Goodbye to Problem Clients

Mar 22, 2018

Provocative thought of the day: You’ve got some clients you don’t need. It’s okay to say goodbye to them. In fact, it very well may be necessary to your success. What? you might be thinking. Clients mean money! Why should I say goodbye to money? Ever hear of the Pareto Principle, otherwise known as the […]

law firm clients

Ways to Bring Unexpected Value for Your Law Firm Clients and Make Them Raving Fans

Feb 15, 2018

Money is one of the rewards you get for adding value to the lives of others. —Paul McKenna   You build a successful law firm by adding value to your clients. You get rich by adding exceptional value to your clients. By innovating your business and going the extra mile, you can position yourself in […]

net neutrality

Will the End of Net Neutrality Threaten Your Law Firm’s Online Operations?

Feb 8, 2018

On December 14, 2017, in the face of loud opposition, the Federal Communications Commission voted to repeal the 2015 Open Internet Order (also known as “net neutrality”), opening the door for Internet carriers to set different price points and speeds for types of Internet traffic. The possibility of losing Internet speed, traffic and customers—due to […]

client payment

How to Prevent or Minimize Client Payment Issues for Your Law Firm

Dec 28, 2017

An ounce of prevention is worth a pound of cure. —Benjamin Franklin   We previously discussed practical solutions to help you deal with late-paying or non-paying clients. Now, let’s discuss an even better approach: Keeping late payments from happening in the first place. By setting up a few proactive systems and processes, you can prevent […]

client late payments, cash flow

Protecting Your Firm’s Cash Flow: Ways to Deal with Late or Non-Paying Clients

Dec 21, 2017

Cash flow is the lifeblood of any business, and, as a growing law firm, your primary source of cash is obviously your clientele. When clients start paying late (or worse, stop paying altogether), it doesn’t take long before you feel the strain on your business, especially if you get several late payers at once. When […]

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