Tag : 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 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: […]

Complaining about SLOW or NO payments? Let me ask this ARRESTING question…

Mar 12, 2015

Do you have a policy for being paid? …And if so, is it communicated to your clients as they move through the perfect client life cycle? If you answered NO to this, well, we have work to do. Get out your task list, because it is likely you will have a few items to work […]

What do 945 bankruptcy attorneys have in common?

May 10, 2013

In 2013, I attended a NACBA conference in San Diego, CA. The weather was amazing, and the people were great.  I even took my 14 year old son Michael to his first show so he could see what Dad does every day. I could also monitor how he would hold up during the 12-hour days. He […]

What is your WOW moment for your clients?

Mar 12, 2013

The days of simply being good at what you do in order to create a lasting experience are gone.  Being good at what you do has become an entry point.  If you typically sell ‘swamp juice in a perfume bottle’ you won’t be in business for long, especially if you’re good at marketing.  However, being […]

Billed But Not Collected – The Bane of Every Law Firm

Dec 28, 2012

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 […]

What Debbie Reynolds Might Say About Cash Flow

Dec 3, 2012

If I asked you “How much is each case type worth?” “How much NEW money comes in for each case type that hires the firm?” “What is the value of each case?” and “What percent of each dollar billed is actually collected?”  Can you tell me? Can you tell me by percentage what you invest […]

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