Avoid stress! We are now wrapping up the 4th quarter of 2018, which means it is prime planning time for 2019. Here are some things you can do now. Your firm’s financials should be reviewed all year long, not just at year-end. That means creating a monthly checklist of […]
{ Comments on this entry are closed }
Written by Clio Team, originally posted on July 12, 2017 Every law firm has its sights set on recording an ever-increasing amount of billable hours. Unfortunately, it’s not always that easy—particularly for smaller firms that lack the resources and efficiencies that industry juggernauts enjoy. If you work at a small law firm, you likely spend more time […]
{ Comments on this entry are closed }
By John Davidson As attorneys, you understand liability, but how well do you understand the types of insurance that mitigate common liabilities? Understanding the basics of risk management and insurance is critical for you to manage your firm effectively. According to a July 2016 report in the Insurance Journal, the frequency and severity of malpractice […]
{ Comments on this entry are closed }
How old are you? Actually, the answer to this question doesn’t really matter. If you are old enough to have a job, or if you are old enough to own a (profitable) business, you are old enough to start saving for your retirement. In fact, the well-known phrase it’s never too late to start saving […]
{ Comments on this entry are closed }
By Drew Hefflefinger Who is tired of making someone else’s dream come true? The sacrifice, the hours, the faceless P&L reports. Learning how passionate and dedicated attorneys are, it is no wonder that many seek entrepreneurship as a means of providing a greater, more focused service to their clients. According to the American Bar Association’s […]
{ Comments on this entry are closed }
By Guest Blogger, Drew Hefflefinger, CFP® Pilots have a rule of thumb called the “1-in-60 rule”. Although it has various uses, the ratio’s primary use is navigational. It states, if a pilot travels sixty miles and is just one degree off course, then the pilot can expect to be one mile away from their targeted […]
{ Comments on this entry are closed }
Can you run a small law firm on just a few hundred dollars a month? Probably not. But that does not mean you should not try to operate your solo law practice by spending as few dollars per month as possible. When you are restricted to a relatively low operating budget – which many solo […]
{ Comments on this entry are closed }
By Guest Blogger, Drew Hefflefinger, CFP® Deferring income tax liability from high income tax years to low income tax years while saving for retirement has clear advantages. Understanding which strategy to employ, however, can lead to murky waters. By having a clear vision of your firm and personal goals tremendous tax savings can be had. […]
{ Comments on this entry are closed }
By Drew Hefflefinger, CFP® Business risk is a constant threat to entrepreneurs and if not managed properly can lead to disaster. By having a plan in place that addresses these risks the business owner can feel confident about the sustainability of the business in the event of catastrophe. During the Thursday, May 26th CBA Coffee […]
{ Comments on this entry are closed }
By Guest Blogger, Drew Hefflefinger, CFP® An entrepreneur’s income drives everything. Income drives the firm, personal goals, and should be a major factor when investing financial capital. By understanding your business cycle, risk tolerance, and personal goals a well thought out investment management strategy can lead to greater long-term results. The Distinction between Human v. […]
{ Comments on this entry are closed }
