Ryan Kimler: Numbers for Lawyers

<p><strong>In this episode, Steve Fretzin and Ryan Kimler discuss:</strong></p><ul><li>The numbers side of your law firm practice. </li><li>The KPIs firms should be looking into. </li><li>Why you need to understand your firm’s numbers. </li><li>Utilizing an expert to look at your numbers to set your firm up for success. </li></ul><p> </p><p><strong>Key Takeaways:</strong></p><ul><li>A lot of built in reports in financial software are for compliance, not for understanding what is happening with your firm’s numbers. </li><li>Five of the simple numbers you should be tracking regularly: revenue, cost of goods sold, and operating expenses (marketing, payroll, other overhead). </li><li>Getting a numbers assessment will give you a starting place to understand what your firm needs. </li><li>You didn’t go to law school to understand the numbers of your firm, working with a financial expert can help you to understand where you are at and where you are going. </li></ul><p> </p><p><i><strong>"The rule of thirds absolutely still holds true today, which is, when you hire an attorney 1/3 of the revenue that are going to generate goes to pay them, 1/3 to overhead, and 1/3 to profit." </strong></i><strong>—  Ryan Kimler</strong></p><p> </p><p><strong>Connect with Ryan Kimler:  </strong></p><p>Website: <a href="https://netprofitcfo.com/">https://netprofitcfo.com/</a></p><p>Email: ryan@netprofitceo.com</p><p>LinkedIn: <a href="https://www.linkedin.com/in/ryankfinancialclarityllc/">https://www.linkedin.com/in/ryankfinancialclarityllc/</a>  </p><p> </p><p><strong>Thank you to our Sponsors!</strong></p><p>Legalese Marketing: <a href="https://legaleasemarketing.com/">https://legaleasemarketing.com/</a></p><p>Moneypenny: <a href="https://www.moneypenny.com/us/">https://www.moneypenny.com/us/</a></p><p> </p><p><strong>Connect with Steve Fretzin:</strong></p><p>LinkedIn:<a href="https://www.linkedin.com/in/stevefretzin/"> Steve Fretzin</a></p><p>Twitter:<a href="https://twitter.com/stevefretzin"> @stevefretzin</a></p><p>Facebook:<a href="