156. The Most Effective Financial Strategies for Law Firms

In this podcast episode, Gary introduces Brooke Lively, a financial advisor and fractional CFO to law firms. Brooke shares her professional journey and how she helps law firms with their finances. She discusses the creation of Cathcap, a group of CFOs and profitability strategists, who demystify numbers and provide financial strategies to help law firms grow and scale. Brooke emphasizes the importance of key data points such as cash flow, work in progress, sales calls booked, and net new cases. She also shares valuable resources and tools for attorneys to improve their financial management. Gary and Brooke highlight the significance of proactive financial analysis and having a knowledgeable team to support attorneys.

When entrepreneurs find themselves hitting a wall in their business, they come to Brooke Lively, Cathcap's Founder and CEO. Brooke has always been a catalyst for accelerated profits - her actionable advice has helped businesses thrive for years. 

 When Brooke does her job, it's like a light bulb goes off in a client's mind. They see a new identity for their organization, and they're empowered to make a change that makes their world better - whether that's in time, money, reputation, or all of the above. It's big thinking, and with Brooke's help, clients can achieve whatever version of "profit" they are seeking.

 What's more, Brooke is an EOS Implementer® who educates leadership teams with effective tools and processes, making her a well-rounded force for business growth.

 She is a highly regarded speaker and the author of several books including her International Best Seller, From Panic to Profit. Brooke has been featured in international media including CNBC, Forbes, US News and World Report, and on podcasts such as You Are Buzzworthy, Mission Matters, The American Bar Association Modern Law Library, and The Entrepreneur Way.

You can access the Profit Finder here: https://cathcap.brilliantassessments.com/?external=ProfitFinderTFL

Law firm partners often believe that success means being stressed and overworked, which can lead to mental health issues. The key to a successful, enjoyable legal career is taking control of your career and time by developing a book of business. My friend and colleague Jennifer Gillman will talk about law firm economics and how rainmakers can leverage their ability to generate business to create their perfect situation and avoid drowning in stress.

 Save your seat for her talk on November 15 at 1PM Eastern by going to https://bit.ly/GSGR-11-15.

 Jennifer Gillman’s mission is to help unhappy law firm partners and solo practitioners get more from their careers. She helps them find their exact right perfect fit firm. This can involve moving to a different firm, merging their firm into another firm, or taking action to transform their current role into something better. Lawyers suffer from stress and overwork; job satisfaction relieves this stress and transforms their professional and personal lives. Jen’s superpower is being able to tell in 15 minutes or less what steps a partner can take to improve their career.