What is the Purpose of a Balance Sheet?
You’re tasked with being both an attorney and a business owner. Your strength is the former, but you’re being placed in charge of creating, reading, and understanding a lot of documents in order to handle the latter. We often get asked by attorneys what some of these documents are and why they matter. What is the purpose of a balance sheet?
Have I Hired a Terrorist?
They say “one bad apple can ruin the bunch” and it’s true – especially in the workplace. But how do you know if you’re hiring that bad apple? Today we’re sharing our favorite tool to help evaluate your staff.
How Much Should I Be Spending On Marketing?
If you want more clients at your law firm, you’re going to need to spend some money on marketing. The question that we’re often asked is “how much should I spend?” Our answer is usually some variation of a shoulder shrug and an, “I don’t know yet.” This is not unknowable. Our role is to consult with the attorneys we work with to determine how much to invest. But it’s also not something that’s set in stone. If you’d like to get a bit more information about how to analyze and optimize your marketing spend, read on!
When Should I Obtain a Line of Credit?
Despite your revenue, your income, or your potential for high profits, most attorneys are also seen as big risks. That is why it is so important to make yourself “bankable” and to understand the choices you have available to you as you try to obtain the loans, lines of credit, and financial support you need.
How Do I Create a Budget?
How Do I Create a Budget for My Law Firm? Most of us understand, instinctually, the value of a budget. We get the idea that it helps to know where your money goes, how much you can spend in different parts of your business, how much you have left over, and more. But we also […]
Embracing Change and Shifting Priorities
Change is hard. Whether you are changing for great reasons (growth) or bad ones (COVID) it still means that the targets you set are constantly moving. Instead of a set it and forget it attitude, you need to be a little more on top of things – there is no autopilot for most companies right now. This […]
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