Essential Financial Management for Lawyer Entrepreneurs

If you are an attorney in your own firm, you have made the leap — you are an entrepreneur. You probably started your firm because you wanted that feeling of autonomy and control — you wanted to call the shots. But how much control do you really have? When a client calls, you have to answer. When you start a new marketing campaign, you have to wait for results. And when the calendar says it’s tax time, you have to collect your numbers and get your papers ready. Taking Control of Your Business: The Three-Legged Stool. If you are like most attorney entrepreneurs, you make most decisions reactively. Instead of running your business, your business runs you. Like so many other things, tax season is something that just happens to you — something painful you just hope to survive. If you’re constantly scrapping to keep up, it’s time to take a deep breath. It can get better and you can take control, even with taxes. But first you need a working system for managing your finances — all year-round. ... READ THE REST

Originally published February 18, 2015 0 1