The profit your law firm generates is the first key indicator of your firm’s performance. Why else would you be in business if not to generate a profit?
The problem is, many of us do not understand how to arrive at this number. If you are looking at your Profit and Loss or Income Statement from your accounting software and relying on that to determine your profit then you are missing a key point.
In this episode, Moshe Amsel goes into detail to explain the different ways a law firm owner can get paid through their firm and why that makes a difference in how profit is calculated. Even if you hate numbers, you won’t want to miss this key lesson in understanding the most important number in your law firm’s health.
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Profit with Law Podcast Episode 18 - Profit First Step-by-Step
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