BROOKE LIVELY
BROOKE LIVELYBrooke Lively is the CEO and founder of Cathedral Capital, a team of CFOs and profitability strategists who help entrepreneurs turn their businesses into profitable companies. Follow her on LinkedIn.
Enjoy Some of Brookes Most Popular Articles
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Budgets Suck, But Profit Plans Rock
OK, I’ve said it: Budgets suck. I don’t like anything that tells me I can’t do something. For example, I like to travel and usually do three international trips a year. The last thing I want is a budget — ugh, restrictive! However, I am very excited about my spending plan, which shows me all the things I get to do while… Continue ReadingA No-BS Way to Tell If Your Marketing Is Working
I’ve said it before: Cash is king because your firm can’t survive without it. But clients create the cash and marketing brings you clients, so we have a chicken-and-egg situation. You need cash to pay for marketing to get clients and clients to create cash to pay for marketing. And in this…Continue ReadingWhat Should Be on Your Law Firm’s Dashboard
It takes more than a profit-and-loss statement and balance sheet to understand how your firm is doing. Your law firm’s dashboard shows where you are going and enables you to make changes that help you get there. It is a…Continue ReadingThe Secret of Increased Production for Your Law Practice? Accountability
Oftentimes, clients tell me their friends are surprised at the amount of work that is flowing through their firm. But it’s really no secret how to achieve increased production and drive growth in your…Continue ReadingAre Your Law Firm’s Financial Systems Ready to Scale?
Growing your business is an exciting adventure, but let’s be honest, it can be pretty challenging. You want to serve more clients, boost your revenue and build a bigger team. But to do that, you have to make sure your law firm financial systems are ready for…Continue ReadingLaw Firm Profits: 5 Ways You May Be Sabotaging Your Firm’s Growth
Lately, I’ve been meeting a new breed of attorney. They see their firms more as a means to an end than the end itself. Their goals are expansive; they start their firms younger than their parents might have, and their expectations are significantly…Continue ReadingArticles Tab 2
The Best Compensation Plans Use the Law of Thirds
This is one of the tightest hiring markets we have seen in the legal industry in a long time, if not ever. Compensation plans have become a hot topic as competition increases for good attorneys. Yet here’s the problem: You still need to be… Continue ReadingLaw Firm Overhead: What It Is — and What It Isn’t
There are the easy elements in your overhead: rent, phone, copier rental, research subscriptions, case management software, marketing. All the things that you have to pay for each month, whether you use them or not, that keep the lights on and the doors…Continue ReadingBuilding a Law Firm That Pays You First
When you started your law firm, it was probably just you — and maybe a paralegal or assistant. Then more business came in, you were working crazy hours, and so you hired more people. You didn’t really care what you paid them; you just…Continue ReadingHave You Hired a ‘Terrorist’? 4 Kinds of Law Firm Employees
These days, staffing is one of the toughest things for law firms to nail. People loathe firing people. Especially if they are productive. They want to keep those employees at all costs. So, imagine the firm owners’ surprise when we label one of their most productive people a “terrorist.” Now, we don’t do this entirely out…Continue ReadingYour Law Firm’s Employees Cost Too Much to Lose
Most of the lawyers I know feel like their employees fall into one of two categories. They are either walk-on-water incredible or a pain in their rear. The latter ones suck up lawyers’ time, need help, and don’t do their job all that well. Sometimes it seems…Continue ReadingHow to Prepare Your Law Practice for the Coming Recession
A client emailed me this week asking, “I am thinking about opening another office, but with the recession coming, I’m not sure what I should do. Any advice?” Unless you were admitted before about 2005, you haven’t practiced law going into a recession. A huge number of lawyers are facing something…Continue ReadingArticles Tab 3
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