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Accounting and Financial Planning Tips for Law Firms and Businesses
Financial guidance built for two audiences: law firms and small businesses, each with their own focus below.
Want to see it, not just read it? Watch Chelsea walk through your balance sheet, your P&L, and the financial mistakes that get business and law firm owners in trouble, one video at a time.
Accounting Speaks, If You Listen
Unlock Legal Business Success through Financial Insights! Discover how your numbers become powerful tools for strategic decisions, steering your venture towards profitability. Explore formulas within your financials to forecast your future, focusing on specialized services like estate planning and business law for added value.
Meet Tim, a veteran lawyer whose passion waned due to business pressures. Don't let that be your story. Regain your power to positively impact lives w
Accounting Avoidance Syndrome – Why this Boring Crap Matters
In these fictitious yet instructive examples, a vital lesson emerges. The crux? Brace yourself! The initial scenario hints at your legal business's profitability, yet conceals its origins. In contrast, example #2 unveils a gem: your unmatched profits flow from uncontested divorces, yielding a striking 93% gross profit margin pre-deductibles. On the flip side, no-fault divorce cases yield a modest 59% gross profit margin pre-expenses.
These insights empower strategic enhancem
The Overlooked Golden Nuggets of 2020 for Law Firms
COVID was an unexpected jolt to everyone around the world. It’s been a year of realizations, heightened social awareness, a massive shift in the education system, and a universal pause that begs for reflection. It has shown us that change is inevitable, and complacency can hurt. Try to deny or fight those two truths, and you’re going to be left behind.
The Lies You Believe Around Money (and Why They’re Choking Your Law Firm's Profits)
The biggest thing that holds firms back from profits is the belief around money. If you believe it’s hard to earn 1 Million in annual revenue, your path to becoming a 1M+ firm is going to be a rough one. You’ve heard, “if you say you can, you’re right and if you say you can’t, you’re right”?
What Your Clients Are Saying About You
If you aren’t listening to what people are saying about lawyers, you’re missing out on the opportunity to overcome the stereotypes.
Hope is Not a Strategy
If your firm is not moving in the direction you want, it may be because you’re hoping for success instead of planning for it.
End of Year Checklist for Law Firms
Yes, it’s that time of year again. But this year, let’s be a little more proactive. Intentions are great, but they are nothing without action.
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