Cashflow & Profitability - Atticus Advantage

Cashflow & Profitability:

What Law School Didn't Teach You About Running A Successful Law Firm

Publisher: Atticus Ink 345 S. Highland St. Mount Dora, FL 32757

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the express written permission of the publisher, except for the inclusion of brief quotations in a review.

? 2020 Mark Powers and Shawn McNalis

ISBN: 978-0-578-75638-7

12 11 10 09 08 5 4 3 2 1

Table of Contents

This detailed TOC is being provided to facilitate easy navigation

About the Authors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . x

Acknowledgements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xiii

Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xv Missionary to Mercenary Spectrum. . . . . . . . . . . . . . . . . . . . . xvi The RULES of the Game . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii

Chapter 1:

Building Your Firm's Financial Foundation . . . . . . . . . . . . . . . . . 1

Proactive Versus Reactive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

Establish a System. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

The Monthly Meeting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

The Financial Template. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

Use a Dashboard to Gain Control. . . . . . . . . . . . . . . . . . . . . . . .5

The Advantage of Using A Law Firm Dashboard. . . . . . . . . . . 6

Contingency Firm Dashboard . . . . . . . . . . . . . . . . . . . . . . . . . .10

A Word About Financial Professionals . . . . . . . . . . . . . . . . . . . 11

The Fraud Triangle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

Motivation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

Rationalization/Justification. . . . . . . . . . . . . . . . . . . . . 14

Opportunity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

The Cash Control System. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

The Case Status Meeting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Forms:

Monthly Financial Template Sample . . . . . . . . . . . . . . . 18

Financial Template Worksheet. . . . . . . . . . . . . . . . . . . . 19

Law Firm Dashboard . . . . . . . . . . . . . . . . . . . . . . . . . . .20

Contingency Dashboard . . . . . . . . . . . . . . . . . . . . . . . . 21

Business Structure Chart . . . . . . . . . . . . . . . . . . . . . . . .22

Chapter 2: Rates and Realization How Much Do You Charge And Then Collect? . . . . . . . . . . . . . 25

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download