Last week in our goal-setting episode, we mentioned that we’d bring a guest on to talk about finances. Today, that guest is joining us. Moshe Amsel is the host of the Profit with Law Podcast, the founder of the Law Firm Growth summit, a certified Profit First Professional, and a business coach to many law firms. He’s also a dad of 6, a paramedic, and a former accountant and IT professional.
We truly couldn’t ask for a better guest to talk about revenues, financial numbers, and goals related to finances for law firms. Throughout our discussion, Moshe explained all about the problem with goal setting and just leaving it at that. He helped us understand the importance of having a system for making sure we’re on track with our goals and course-correcting.
Today’s episode is part one of this conversation. In it, we revisit goal-setting from a numbers perspective. We dive deeper into setting revenue goals based on our take-home needs. We also talk all about investing vs. spending when we are first building our business. Moshe teaches how much we should be spending, what profit we need for that, and how to shape our mindset around all of this.
Next week we will share the second half of the conversation but, for now, tune in to learn all about revenue and profit.
- Goal-setting in regards to revenue.
- How to reverse engineer your revenue goal to reach your profit goal.
- The profit matrix for any healthy business.
- Why we need to set big visions.
- How to translate the profit matrix into a revenue goal.
- Where our revenue should be going in our law firms.
- How to shift your perspective from that of a technician to that of a business owner.
- How to treat investments into your business as sprints.
Subscribe and Review
We’d appreciate you subscribing to this podcast and leaving an Apple Podcasts review. Reviews help others discover and learn what Law Firm Next is all about. It only takes a second and helps us out a lot!
Book: Profit First by Mike Michalowicz
Book: Who Not How by Dan Sullivan & Dr. Benjamin Hardy