The Rainmaking Podcast TRP 168: From Panic to Profit: The 6 Key Numbers that Should be Tracked in Every Firm with Brooke Lively
In this episode of The Rainmaking Podcast, host Scott Love speaks with Brooke Lively, founder of Cathedral Capital and author of From Panic to Profit, about the six key financial numbers every firm should track to ensure profitability and long-term success. Brooke explains that while professionals are often passionate about their practice areas, they may lack the business acumen needed to manage firm operations effectively. Her framework focuses on fundamental financial indicators that serve as a scorecard for operational performance and strategic decision-making.
Key topics include tracking cash flow forecasts weekly to ensure financial stability, monitoring budget versus actual reports monthly to evaluate operational performance, and assessing ideal ratios to ensure owners are compensated fairly. Brooke also highlights the importance of tracking work in progress (WIP) to maintain productivity, measuring the number of sales calls booked to predict future revenue, and monitoring net new cases to manage team capacity and forecast staffing needs. She shares real-world examples of firms that have dramatically improved profitability by implementing these metrics, along with actionable tips for making strategic adjustments. This episode provides essential guidance for professionals looking to build a profitable, data-driven business.
Visit: https://therainmakingpodcast.com/
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Brooke Lively is the CEO and Founder of Cathedral Capital. With expertise in growth management, creative problem solving, and profitability strategy, Brooke has been named ‘Top 25 Women to Watch,’ 2016 - 2020 Diversity Journal ‘Women Worth Watching’, and ‘Fort Worth’s 2016 CFO’s of the Year’. She is a highly regarded international speaker and the author of several books, including an international best-seller.
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This show is sponsored by Leopard Solutions Legal Intelligence Suite of products, Firmscape, and Leopard BI. Push ahead of the pack with the power of Leopard. For a free demo, visit this link:
https://www.leopardsolutions.com/index.php/request-a-demo/
Links:
Amazon link to Brooke’s book:
https://cathcap.com/meet-the-team/
https://www.linkedin.com/in/brookelively/
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