Episode #308: The 10 #s That Really Drive Law Firm Growth

In this episode, Molly is joined by Ryan Kimler, The Net Profit CFO, to explore the ten essential financial metrics that drive law firm growth. Ryan shares his transition from traditional accounting to advisory, revealing how law firm owners can use metrics like cash flow, invoice volume, and expense tracking to gain clarity and make smarter, growth-focused decisions.

 

Key Takeaways:

 

• Knowing the difference between invoice volume and average invoice size can make all the difference in understanding and growing your firm’s revenue.

• Break your expenses into three clear categories—payroll, marketing, and overhead—so you can actually see where your money’s going and how to boost your bottom line.

• It’s not just about profit—understanding how cash flows in and out (including unpaid invoices and debt) is key to keeping your firm financially healthy.

• Many law firm owners try to pay off debt too quickly, without realizing how smart debt can actually help them grow.

• Don’t try to do it all alone—bringing in a bookkeeper or advisor can relieve stress and help you stay focused on what really drives profit.

 

Quote for the Show: "The only way to grow revenue is to grow one of these two numbers. You're either issuing more invoices or you're increasing your average price." - Ryan Kimler

 

Connect with Ryan:

• LinkedIn: https://www.linkedin.com/in/ryankfinancialclarityllc/
• Website: www.netprofitcfo.com
• Facebook: www.facebook.com/rkimler

 

Links:

• Website: https://hiringandempowering.com/

• Facebook: https://www.facebook.com/hiringandempowering

• Instagram: https://www.instagram.com/hiringandempowering

• LinkedIn: https://www.linkedin.com/company/hiring&empoweringsolutions/

• Law Firm Admin Bootcamp: https://www.lawfirmadminbootcamp.com/

• Get Fix My Boss Book: https://amzn.to/3PCeEhk

 

Ways to Tune In:

• Amazon Music - https://www.amazon.com/Hiring-and-Empowering-Solutions/dp/B08JJSLJ7N

• Apple Podcast - https://podcasts.apple.com/us/podcast/hiring-and-empowering-solutions/id1460184599

• Spotify - https://open.spotify.com/show/3oIfsDDnEDDkcumTCygHDH

• Stitcher - https://www.stitcher.com/show/hiring-and-empowering-solutions

• YouTube - https://youtu.be/WxXg1iXcggU