Podcast – Law Firm Financial Management
KPI’s – Do you know the Key Performance Indicators in your law firm? Want to know what you should be looking at and monitoring? How about the best accounting tool for law firms? To learn more, check out the Non-Eventcast podcast where CathCap Founder and President, Brooke Lively talks about Law Firm Financial Management. Listen […]
Core Values: Why They’re So Important and How to Determine Yours
Your core values should drive every decision in your business. But are you clear on what they are? In this blog post, we’re sharing our technique for determining your core values.
How to Set An Appropriate Billing Rate
Your billing rate can’t be a guessing game. It has to be something that you come up with using data – data that you have in your own firm. But what’s the magic formula?
How Much Should I Pay for a Billable Employee?
One of the hardest parts of managing a law firm is the delicate balance between hiring the right number of staff members and ensuring that you can afford them. At different points in your practice, you’ll be tasked with tough questions. The solution to many of these problems is simple: hire the employees you need and create a compensation plan that is profitable for both you and the employee. Of course, that is easier said than done. So how do you figure out what you can pay a billable person? Read on to learn more.
How is it Possible That I OWE Taxes at My Firm?
You’re a good business owner. You know that it’s important to continue to invest in your business with a portion of your profits and you’ve worked to pay down your debt. The logic: “I pay down my debt and have no money left, not only do I have a lot less debt, but I also owe no taxes.” Not always so! Read on to learn more and see how your biz can prepare for tax season.
How to Get Your Team to Originate Cases
It’s tough being an attorney and a business owner. You’re tasked with doing work for your clients, while also figuring out how to keep your firm profitable and, if possible, enjoy the fruits of your labor. That’s why encouraging your team to help originate new cases is key! Let’s discuss.
How To Get Better Referrals At Your Law Firm
You’re a good attorney. No, you’re a GREAT attorney. You get amazing results for your clients. People should be standing at your door, desperate for your services BUT that’s not quite how things have been going… We’re sharing the tools you need to help grow your referral network and become an in-demand firm.
Why Do I Need a Budget for My Law Firm?
Everybody says you need a budget. But do you? No, not exactly. You don’t really need to have a budget in the traditional sense. What you need is a “Profit Plan.” If that sounds new to you, it’s because it’s not a real thing. We made it up. But once you understand what a profit plan is and how it differs from a budget, you’ll be able to understand why it is a better alternative to traditional budgets and budgeting.
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.
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