Law Firm Budgeting That Actually Works

Описание: Budgeting doesn’t have to be boring—and for law firm owners, it can be the difference between guessing and growing. In this episode, Kevin Daisey sits down with fractional CFO Leah N. Miller (Firmly Profits) to break down a practical budgeting approach that helps law firms make smarter decisions, avoid cash crunches, and confidently scale.

Leah shares a simple starting point: review your financial statements monthly (P&L, balance sheet, cash flow), build a budget using last year’s averages, and calculate your true break-even number—including owner pay. They also cover how budgeting connects to marketing spend, why contingency-fee firms need stronger cash reserves, and how monthly financial reviews help you spot overspending, plan for slower months, and prepare for taxes—without running your firm on “gut decisions.”

Chapters:
00:00 – Why Law Firm Budgeting Is So Hard
02:00 – Leah’s Journey From Paralegal to Fractional CFO
05:50 – The One Financial Habit Every Law Firm Owner Needs
08:30 – How to Build a Simple Law Firm Budget
11:45 – Budgeting for Marketing and Growth
14:30 – Managing Cash Flow in Contingency Firms
16:45 – How Much Cash Should Law Firms Keep?
19:00 – Using Financials to Make Better Decisions
21:30 – Tax Strategy vs. Cash Reality
25:00 – Making Confident Decisions With Numbers

Today's episode is sponsored by The Managing Partners Mastermind. Click here to schedule an interview to see if we’re a fit: https://thisisarray.com/the-managing-...

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