sausage factory Landing page – 2016 – 11 – How To MANAGE a Small Law Firm

The Sausage Factory

Ale and I are about to take on 46 incredible things in the next 35 days.

Some of which include, buying and moving into a new house. Transitioning our business into new office space. Hiring more people to help grow our business than ever before, and much more.

The following lesson series is going to chronicle the learnings and experiences of our daily life through this crazy but exciting time.

If you’ve held back from chasing your goals because something felt unsafe, too fast, or uncomfortable you NEED to watch this series.

We’re calling it the Sausage Factory, because this is how stuff actually happens, decisions are made, stuff gets done. It’s not always pretty, in fact it’s really messy a majority of the time. But, guess what?

IT GETS DONE

We move, our business grows, people are hired… sometimes fired. And we make MASSIVE PROGRESS in record time.
These lessons demonstrate that we really do “Walk The Talk” that can put more money in YOUR pocket.
Stay tuned for an email in which I’ll invite you to “opt in” to a very special end-of-year video series that we’ll be creating in Real Time and answering YOUR QUESTIONS along the way.
So sign up, watch and learn over the next few weeks as we give you a glimpse into how and why we do some of the things that we do that grew own our firm nearly 8,757.14% and landed How To MANAGE a Small Law Firm on the Inc 5000 List of fastest growing privately held companies twice, in the past 7 years.
Just imagine what it could do for YOUR life to grow your own firm just 50% in 2017? Get right to the part where you take your first step to making that your new reality for next year.

GUNS and Your Money

Not counting summer camp as a kid when we learned to handle a 22 caliber rifle, I’ve been to the shooting range maybe 5 times in my adult life. This past weekend was the 5th time.

Thankfully, the first two times I went with friends

Friends who are very experienced with firearms AND they happened to have a system to introducing novices to gun safety so I could safely enjoy their sport.

The first was in the Colombian military and trained with Israeli special forces.

Watching him handle a gun was amazing. Such fluidity and confidence.

It was like watching a lawyer holding a pen. Just totally natural. But of course NO ONE is just a “natural” when it comes to handling a gun or with any of the 7 Main Parts of every successful law firm.

“The man who does not read good books has no advantage over the man who can’t read them.”

~ Mark Twain

Everyone has to learn.

There’s no getting around it. You’ll either learn now, or you’ll learn later. Later is just a lot more painful and expensive. No my friends, there is nothing to be embarrassed about “having” to learn about how to manage the business affairs of YOUR law firm. It’s far more painful to let it go on for how many more years that you will keep paying the high price of (willful) ignorance?

One of the 7 Main Parts of YOUR law firm is Financial Controls.

And when it comes to financial controls for your law firm there is only good news, better news, even better news and an empowering opportunity in store for you here.

There are 6 Key Numbers that drive every successful law firm.

And some or all of them get neglected in the law firms that are struggling.

Anxiety About Profits = Ignorance Of Your 6 Key Numbers Ignorance Of Your 6 Key Numbers = Anxiety About Profits

Let‘s Face It…there’s a lot they DIDN’T teach us in law school about the business of how to manage a successful small law firm.

And how to feel empowered by knowing your numbers probably tops the list!

If you’ve been doing a GREAT job for clients for more than a few years…and you STILL worry about money and profits…then you already know it’s not enough to just bring-in the gross revenue. You’ve got to manage the finances of your law firm in order to realize a profit.

SIDE NOTE:

Too many lawyers think that “managing the finances” means “spend less”. In fact, if you want to GROW your firm you’ve got to learn when, where, why and how to spend more…but you have to learn how to convert your “spending” into “investing”. Understanding how to interpret your firm’s 6 Key Numbers will empower you to make this distinction.

ONLY A FOOL…yes my fellow attorneys…

I said only a fool abdicates this critical business responsibility to a book keeper, accountant or anyone-else.

The good news, is that once you understand the 6 Key Numbers of your law firm, you can confidently and responsibly leverage the skills and experience of a book keeper and/or an accountant.

But until and unless you understand the 6 Key Numbers that drive your business, then you’re letting SOMEONE-ELSE be in control of YOUR law firm…

and in some very real ways…they’re actually in control of the quality of the legal services your law firm can provide, too.

The better news is, there are only 6 “Key” numbers you have to understand. Even better news is, you don’t have to be good at math to understand any of these 6 Key Numbers.

My major was communications, law, economics and government. No MBA, no CPA behind my name. No finance degree. No formal business degree. I got my degree in how to build a business that’s tracking to gross $6.2 million this year from The School of Hard Knocks…and let me tell you if you have the chance to avoid this route and you knowingly miss-out you are either a masochist or a moron.

You’re Not A Moron!

You want to short-cut the painful and expensive lessons they left-out in law school, so you can more quickly get to the parts of running your own firm that are empowering, fun and profitable!

So here’s the empowering news I alluded to above…

Watch these videos with a note pad. Because by the time you’re done, you’ll know what questions to ask your book keeper and/or your accountant.

…and you‘ll know if the answers they’re giving you make sense, or not.

…and you’ll know what to do about it.

…and you’ll be empowered to make better, quicker, more objective decisions about your business with more confidence.

…or you can just enter 2017 feeling the same way (intimidated and embarrassed) about the finances and financial controls of YOUR law firm.