Nov 9, 2023
In this episode of "Smart Lawyers Position to Transition," Victoria is joined by Brooke Lively, the founder and president of CathCap, to explore how law firms can enhance profitability through data-driven insights. With a wealth of experience, Brooke takes on the role of a fractional Chief Financial Officer (CFO) for law firms, offering invaluable insights into the intricate financial workings of the legal industry. Victoria and Brooke highlight the value of data-driven insights in improving law firm profitability and preparing for successful exits.
Key Takeaways:
- The Role of a Fractional CFO: Brooke explains the concept of a fractional CFO and how it benefits law firms.
- The Six Key Numbers for Law Firm Profitability: Brooke introduces the six key metrics that law firms should focus on
- Understanding Capacity Utilization: The discussion touches on the importance of tracking staff productivity and capacity.
- Trends in the Legal Industry: The conversation explores trends, including non-attorney ownership of law firms.
- "Exit on Top" Book Preview: Brooke introduces her upcoming book, "Exit on Top," which focuses on preparing law firms for successful sales.
Connect With Brooke Lively and CathCap
Profit Finder available for free at CathCap.com/smartlawyers
https://www.linkedin.com/in/brookelively/
https://www.facebook.com/boo.lively.3
https://www.facebook.com/CathedralCapital
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Connect with Victoria Collier
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https://www.linkedin.com/company/victoria-collier-coaching/