For any entrepreneur, managing cash flow can be cyclical. It’s especially common for attorneys because some operate on contingency, and others fall into a rhythm of marketing to create a lot of work, and then doing the work and not leaving time for marketing which leads to no new work. It creates a feast-or-famine cycle; if they aren’t careful, they will end up cash poor during the slow months.
In today’s episode of Wealthy Woman Lawyer®, Davina shares seven steps to improve your cash flow when money is tight. These actions are meant to help you attract more cash now and help you set up a system to avoid falling into the feast-or-famine trap again.
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What is Wealthy Woman Lawyer Podcast, Helping you create a profitable, sustainable law firm you love?
What if you could hang out with successful women lawyers, ask them about growing their firms, managing resources like time, team and systems, mastering money issues, and more; then take an insight or two to help you build a wealth-generating law firm? That’s what we do each week on the Wealthy Woman Lawyer podcast. Hosted by Davina Frederick, founder and CEO of Wealthy Woman Lawyer –– every episode is an in-depth look at how to think like a CEO, attract clients who you love to serve (and will pay you on time), and create a profitable, sustainable firm you love. The goal is to give you the information you need to scale your law firm business from 6 to 7 figures in gross annual revenue so you can fully fund, and still have time to enjoy, the lifestyle of your dreams.