1. Why Cash Flow Matters More Than Revenue in Law Firms With Greg Crabtree Ken Hardison 45:21

Welcome to episode 265 of the Grow Your Law Firm podcast, hosted by Ken Hardison. In this episode, Ken sits down with Greg Crabtree, a speaker, author, entrepreneur, and financial expert who helps entrepreneurs build thriving businesses.  Greg founded Crabtree, Rowe, and Berger, which was named to the INC 5000 list in 2019. Following this achievement, the firm merged with Carr, Riggs & Ingram CPA’s and Advisors, a top 20 U.S. accounting firm, where Greg now leads the Simple Numbers Consulting unit.  Why Timely Billing Optimizes Cash Flow

  • Implementing prompt billing practices reduces administrative costs and speeds up revenue cycles.
  • Setting aside profits for taxes and working capital ensures financial stability and motivates partners.

How Market Wages Impact Business Productivity

  • Paying employees a market wage fosters financial transparency and reflects a business’s true profitability.
  • Efficiently assigning high-value tasks to skilled staff maximizes productivity and profitability ratios.

Why Mid-Tier Restaurants Struggle with Labor Costs

  • Rising wages and a shrinking labor market strain the operational budgets of mid-tier establishments.
  • Adjusting menu pricing and implementing efficient staffing strategies can mitigate profitability issues.

How Inflation Reshapes Market Competition

  • Inflation increases operational costs, leading businesses to adapt pricing and wage strategies.
  • Shrinking labor pools forces companies to focus on automation or international labor solutions.

Why Personal Injury Law Thrives in Recessionary Periods

  • Economic downturns increase litigious behavior, driving steady demand for personal injury services.
  • Efficient case turnover and strategic marketing bolster profitability in challenging markets.

  Resources:  https://www.linkedin.com/company/simplenumberscri https://gregcrabtree.net/ Greg Crabtree – Huntsville, Alabama, United States | Professional Profile | LinkedIn    Additional Resources:  https://www.pilmma.org/aiworkshop https://www.pilmma.org/the-mastermind-effect https://www.pilmma.org/resources https://www.pilmma.org/mastermind

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Ken Hardison Millionaire Maker

Ken Hardison, is known as the “Millionaire Maker” for a reason- having helped lawyers across the country double, triple, or quadruple their law practices and income, he brings to law firm owners the insights, knowledge, and critical strategies of Legal Marketing and Management that can only be learned in the trenches of real law firm success.

With over 30 years of legal experience, Ken has personally grown and sold two seven-figure law firms and has shared his knowledge and experience with attorneys, helping them experience exponential growth, increased profits, and ethical market preeminence.

With a passion and deep understanding of both grassroots and cutting-edged online legal marketing strategies, Ken is committed to helping lawyers experience greater levels of financial success, freedom, and personal satisfaction- the kind that comes from building an ethical and exceptional law practice. Focusing on the practical and the proven, rather than the cerebral, Ken guides lawyers through the steps needed to build the law practice many lawyers have only dreamed possible.

Ken is the Founder of PILMMA, Personal Injury Lawyer Marketing and Management Association, dedicated to helping lawyers learn the critical strategies to success. As a trusted advisor, consultant, coach, and Mastermind mentor, Ken has coached lawyers to greater success time and time again.

PILMMA’s powerful live and virtual events, such as the ever-popular Law Firm Growth Super Summits and Internet Domination Boot Camps have helped hundreds of lawyers gain the insights and strategies they need to propel their firms forward to greater success and exponential results and to stay current on the latest legal management and marketing strategies, such as leveraging SEO, PPC, PPL, Social Media, etc.

Ken is the author of numerous best-selling books such as Systematic Marketing, Under Promise, Over Deliver, and his latest book, Powerful Online Legal Marketing. He’s known for his practical and engaging style of taking the complicated world of legal marketing and management and giving clarity and step-by-step guides that any lawyer can implement to experience real results, greater profits, transformational growth, and heightened success.