Show Notes
Welcome to episode 330 of Grow Your Law Firm, hosted by Ken Hardison. In this episode, Ken sits down with Leah Miller, founder and CEO of Firmly Profits. Leah brings over a decade of experience as a firm administrator and CFO in a personal injury law firm, and now helps law firm owners across the country gain clarity and control over their finances through fractional CFO services.
The conversation dives into what a CFO actually does for a law firm and why so many firms struggle with understanding their numbers. Leah explains the difference between a bookkeeper, CPA, financial advisor, and CFO, and why each plays a distinct role. She also shares how law firm owners can use financial data to make smarter operational decisions, improve cash flow, and build a roadmap for growth.
What you'll learn in this episode:
What a CFO Actually Does - The difference between a bookkeeper, CPA, financial advisor, and CFO - Why a CFO focuses on growth strategy and future planning
How to Understand Your Financials - Why most law firm owners don't fully understand their P&L - How to use percentages of revenue to evaluate performance
Stabilizing Cash Flow in Contingency Firms - Why cash flow does not have to be feast or famine - How to use case data and trends to create predictable revenue
Turning Data Into Decisions - How financial data reveals operational problems and opportunities - Why improving operations can increase profitability without more cases
Planning for Growth with Confidence - How to forecast revenue and know when to hire or scale - Why consistent financial review leads to long-term success
Resources:
Website: firmlyprofits.com LinkedIn: linkedin.com/in/leahlnmfinancial Facebook: facebook.com/profile.php?id=100091343407958 Instagram: instagram.com/leah_lnm_financial
Additional Resources:
https://www.pilmma.org/the-mastermind-effect https://www.pilmma.org/resources https://www.pilmma.org/mastermind https://www.pilmma.org/events/super-summit DISCOUNT CODE: 26SSGROW
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