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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 […]
Remember the person you wanted to date and she was playing hard to get? Maybe it took hanging out by her locker, writing her a note, (or sending her a social media message in today’s world) and perhaps even a few calls. When it comes to business, gaining the trust of your audience is kind […]
Here’s a shocker for you. How do you increase cash in a business? Raise prices. Wow, earth-shattering. Wouldn’t it be nice if that was it? Game over, close the book and go to work. Rich gave me all of the information I need, so now I can sleep at night. Unfortunately, it’s not that easy. […]
Here are 3 huge secrets about newsletter marketing that will bring you success. #1: Newsletters help you keep customers. As I have said repeatedly, it’s far more costly to acquire new customers than it is to retain your existing ones. A good newsletter program helps you create relationships with your customers. When you share information […]
When I first started working with a Phoenix bankruptcy owner, he was tracking the success of his bankruptcy firm using an Excel spreadsheet and a Word document. He was putting in all the transactions by hand, setting up formulas to add, subtract, divide and so forth. While he ended up with a usable statement for […]
If you haven’t put a system in place to automatically track and convert those unconverted leads to your law firm, start thinking about how to accomplish this today. I talk specifically about how to convert new leads in my book The DNA Of The Autonomous Attorney and you can obtain a copy by going to: […]
If you want to become a wealthy attorney, your primary business goal is to MAKE MONEY. Reel in more clients. Bill more hours. Collect more cash. In this session, I’d like to discuss the concept of Price Elasticity. It’s been my experience when dealing with non-contingency situations, attorneys simply aren’t charging enough. Either they’ve reduced […]
I’ve been examining various aspects of law firm cash flow over the past few weeks. As mentioned previously, it’s essential that you have a system in place that tracks precisely how much money the firm is bringing in daily, weekly, monthly, quarterly and annually. Also, you need to know how much money is collected at […]
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