Financially Legal

Dan Talks Law Firm Finances, Company Culture and More with Mark Homer of GNGF

Posted by Emery Wager on June 27, 2020

Dan Lear was recently interviewed by Mark Homer of legal marketing firm GNGF. Dan and Mark dove into many different topics including: 

  • Company culture
  • A $70,000 minimum wage
  • The Gravity Legal platform
  • Law firm finance
  • Alternative fee structures
  • Expectations of the modern consumer of legal services
Read More

Topics: Firm Financials, Key Performance Metrics, IOLTA, Accounting, Business and Culture

Simple Strategies To Cashflow Success For Your Law Firm (even during COVID)

Posted by Emery Wager on May 30, 2020

Written By Devon Thurtle Anderson, CEO of Financial Consulting Firm, Skepsis

When I first left my law practice to become a law firm bookkeeper and financial strategist, I was shocked to discover how many law firms struggle with cashflow.  Even more surprising was that this struggle isn’t just limited to a few seemingly rag-tag solo general practice firms.  To the contrary, when I had a chance to look under the hood at dozens of law firms’ books and financial records – including law firms I had always seen as hugely successful – I learned that almost every law firm has a cashflow problem within any given 12-month period.  So, as part of my bookkeeping and consulting services, I set out to change that.

Read More

Topics: Firm Financials, Credit Card Fees, Key Performance Metrics, IOLTA, Accounting, Invoices

Episode 7: How do you “show up” for your clients? And what does a premium subscription have to do with that? An interview with Kim Bennett from K. Bennett Law

Posted by Dan Lear on May 27, 2020

Kim Bennett got burned by hourly billing. She lost a bunch of money and, having come up as a young lawyer in a corporate, in-house role, the model didn’t make sense to her. One day she pitched a client on a recurring monthly fee and, to her surprise, they accepted. That’s right, we’re talking subscriptions again. But where the guest from our last subscription-based law practice, Jon Tobin, uses subscriptions in more of a "one-to-many" way, helping lots of clients with a specific set of offerings, Kim has fewer what she calls “premium” subscriptions and they include more comprehensive, regular work with the clients.

Read More

Topics: Credit Card Fees, Financially Legal Episodes, Accounting

Episode 6: An episode about accounting? Really? An interview with Chelsea Williams from Core Solutions Group, Inc.

Posted by Dan Lear on May 13, 2020

I know you didn’t go to law school to manage financials or be an accountant, but it turns out that your ability to successfully support and represent your clients is contingent upon running a sound business. And Chelsea Williams, founder and head of Core Solutions Group, is dropping some wisdom about how to manage your firm’s finances so that you can worry less about money and more about your clients. 

Read More

Topics: Credit Card Fees, Financially Legal Episodes, Accounting

Decoding the Finance of Law

Financially Legal is a twice-monthly podcast on the finance and economics of entrepreneurial law firms and lawyering. Host, Dan Lear, talks with law firm leaders, academics, business professionals (both in and outside of law) and thought leaders to provide compelling and provocative content at the intersection of finance, economics, and law. 

Recent Posts