Firmly Profits

I am a fractional CFO that provides law firm owners with confidence to make strategic financial decisions in their firms. As a former law firm administrator I have the real world firm experience to know how a law firm runs day to day. 

I provide bookkeeping for law firms and small businesses in a way that gives you data to make financial decisions about the future of your firm.

With the mission to reach as many law firm owners as possible and give them financial confidence, I have appeared on many podcasts and pursue other speaking opportunities.

Fractional CFO

Parvey & Cavenago Attorneys, P.A.

Litigation/Trial Paralegal
Firm Administrator

Chief Financial Officer/Florida Registered Paralegal

Dellutri Law Group

Paralegal

As a fractional CFO I use the 10+ years I spent working IN a law firm to help law firm owners gain an in-depth understanding of their firm’s financial picture. 

I am on a mission to help law firm owners become confident in their law firm finances. When firm owners have big financial goals, the first step to reaching those goals is making strategic financial decisions.

I started as a legal assistant and worked my way up through the “law firm ranks”. I know how a law firm runs day to day. When you hire me as your fCFO I bring my financial expertise and my law firm operational experience to our meetings. 

I love working with law firms because they are unique in the small business world. Revenue can be a roller coaster and expenses are unique to law firms. 

I work with law firm owners who are in all different growth phases. This includes.

•	Firms who are hiring their first employees and making the jump from a true solo firm to a firm that has growth in their future. 
•	Firms that are pushing towards their first 7-figure year, hiring associates, and taking their expenses to the next level. 
•	Firms that have reached the big 7-figure milestone and are looking to grow in the coming years. 
•	Firms that are generating revenue but feel overwhelmed with expenses and very little profit. 
•	Firm Owners who are looking for an outside consultant to give them confidence in their finances. 

As a fractional CFO for law firms, I improve financial operations by providing strategic financial guidance, managing cash flow, and analyzing financial data to identify opportunities for growth and improvement.

When we work together you receive my unique consulting style. I believe education never stops. We should always be seeking to learn more about the world around us. From a “consultant” perspective, I believe it is my role to be the educator. I want those I work with to understand the WHY behind why we do what we do.

Understanding the “why” prepares you as a firm owner to continue to make strategic financial decisions in the future.

As we work together guiding your firm into the future, I want to give you the information for you (and your leadership team) to make the best decision. This is not a one size fits all approach.

If you are a law firm owner who is looking to feel more confident in your financial decisions as you reach and exceed growth goals this year we need to talk. Send me a DM or visit my website to schedule a free 30-minute consultation. 

WWW.LNMFinancial.com

Leah Miller, MBA

Highlights for my client include:
✅ Doubling personal injury revenue in less than 12 months (specifically new client intake - not just collecting what was already in the firm)

✅ Adding $300,000 in new revenue to a six-figure criminal defense firm

✅ Launching one of the top podcasts on estate planning in the country (which brings in actual clients, not just listeners)

✅ Tripling average client value for multiple estate planning firms

✅ Coached numerous firms from six figures to their first million dollar year

✅ Grew a $1.1 million personal injury firm to $3.1 million (and counting!)

I wasn't brought into the legal profession as a lawyer... I started in marketing and learned everything I could about what it takes to build and grow an exceptional, high-profit law firm. Today, I coach a select group of law firm owners to 2X-5X their firms and grow as LEADERS. I also publish market-leading courses on growth tools for law firms.

👉 YOUR JOURNEY as a leader and growth engine is the #1 key to unlocking the full potential of your law firm. We can easily increase revenues while you live a better life by following the 7 Stages of Law Firm Leadership, my coaching road map developed specifically for law firms.

With 13+ years working in, for, with, and on exclusively law firms, I have seen it all.

Better yet, I saw the PATTERNS...

There are consistent challenges faced by growing law firms, from marketing to hiring to leading a growth-oriented team. These challenges evolve as the firm evolves, which is why we work with the 7 Stages of Law Firm Leadership. By focusing on change we can control (how you operate as the owner), we affect change through the whole organization!

The real secret...

is NOT a marketing strategy... or management system... or goal-setting... or any one thing.

It's understanding the WHOLE BUSINESS and getting it to work in concert!

Together, we will scale your firm and produce a transformation you may see as "impossible" today. Soon, it will be your reality! 🙌

Here is what others have said:

"Charley is a rarity and truly peerless. In an industry rife with charlatans, separating the wheat from the chaff can sometimes be difficult. It's abundantly clear that he is the genuine article. Professional without preaching, Charley commands authority naturally. I listen to this man intently. He is my coach and a true friend. Charley is the type of person you want in your inner circle."

"Charley is best in class. Can't thank him enough for always bringing out the best in me. If you listen to his suggestions and then implement, you will soar."

Charley Mann

I was talking with a law firm owner recently who was doing just over $300,000 a year in revenue. 

Almost like clockwork.

He absolutely hates it.

He's been doing the same strategies for four or five years.

Like clay being cooked into a vase. He decided he was at his final form. And he was wondering why he wasn't getting any bigger beyond this.

He publishes a ton of video but they don't look good. Hasn't upgraded the camera setup in years. Hasn't touched the thumbnails or titles. Meanwhile, every other firm owner around him is getting better at that.

He's sending a weekly email. But it's become repetitive. He's not trying to punch through anymore.

He's still writing two blog posts every week. A strategy that was great for him from 2014 to 2017. Diminishing returns now. Writing about smaller and smaller topics that aren't breaking through.

Thought he had learned it all. And then stopped learning.

That's the danger. You picked a strategy that worked, assumed it would always work, and stopped being a student.

The world kept moving. Your competitors kept improving. And you baked yourself into a shape that made sense five years ago.

The firm owners who break through never stop learning. They never decide they're at their final form.

Because there is no final form.

Coach + strategist for entrepreneurial law firm owners | Founder, Law Firm Alchemy | Co-founder, Red Kraken Creative | Host, "They Don't Teach This in Law School™️" Podcast

Guess what fixes your law firm's revenue problem?

Sales.

Not always the answer most law firm owners want to hear.

I had a firm owner in front of our mastermind group recently. His firm had backslid a bit. He'd been pulled back into responsibilities he didn't enjoy.

Including sales consults.

He described showing up to these meetings drained. Worn out from other meetings earlier in the day. No energy. No enthusiasm.

He's not alone in this. I see it with firm owners who've been grinding for years. That early excitement of "I'm getting new clients" eventually runs into exhaustion. It happens to almost everyone at some point.

He didn't come to the hot seat to talk about his energy. He wanted a technical solution.

But the whole room landed on the same thing.

If you're not excited to meet a potential new client... to use commerce to make your life and their life better at the same time... that's not a lead generation problem.

That is entirely between the ears.

And look. The room gave him feedback on it. But it came from a place of we've been there too. We get it. This is the work.

I love frameworks and patterns and puzzles all day long.

But this was about energy and commitment to the mission.

The technical solution matters. But not as much as showing up ready to serve the person in front of you.

I’ll take this watch over any Rolex, Patek Phillippe, Piguet, or Vacheron Constantin. Not because it’s nicer. Because…

My great grandfather was a watchmaker at Elgin Watch.

You can find their old pieces out in the wild and on eBay.

This was an online find.
Cost about $500.
Manufacturing date lands roughly in the early 1940s.

It still works.
Manual winding.

The operation is flawed. Too speedy. Adds about 3 minutes every hour or so. I’ll get it fixed… eventually.

But the tie to my family’s history is more powerful than the luxury of other watches. Doesn’t mean I won’t wear another brand. I have other watches I like (including an affinity for Shinola due to ties to Detroit, though I know many look down their noses at the brand).

I just love this one more than the others.

Why does this matter?

You can’t always be sure why someone values something more or less than you. Most watch collectors don’t care about Elgin. But for the right person, it’s the right fit.

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Whatever is going on in your law firm right now, just remember it’s only a phase. Good or bad, it’s just a phase. And you need to start acting that way.

In a bad time?

You can fix it. (Won’t fix itself, though time does heal many wounds.)

In a good time?

Enjoy it. But also use this time to get stronger before the next bad time.

It’s easy to feel like what you’re experiencing now is what you will experience forever. That’s just how our minds work. But it’s all just temporary.

Don’t be afraid of being down.
Don’t take being up for granted.

In a parallel universe, there's a version of me wearing a purple polo and baggy khakis. Going store to store across an entire region checking on processes for Massage Envy.

He is dead inside.

That came so close to happening to me. 

I came out of college as a theater major. My girlfriend at the time (now my wife and mother of my two daughters) had a nursing degree. She was going to have a great job right away.

Out of pride, I gave myself a goal. Have the higher income within two years.

So I interviewed at Massage Envy.

Before the interview, they sent all the applicants a short script. The one they use when someone finishes their massage to sell them a membership.

I was a theater major. When someone tells me I need to know the script, I'm going to know the damn script.

I show up. Four of us around a table outside a Starbucks next to the Massage Envy. The co-owner of four units is interviewing us.

He starts on his right. I'm on his left. So I get to watch everyone go first.

One guy pulls out the sheet of paper. The co-owner says "Yeah, that's fine. You can read from there."

Another person stumbles through it after hearing the first guy.

Another person had written notes on their hand.

It comes to me. I recite the thing word for word.

He looks at me. "That was really good. That sounded great."

And I'm thinking... wasn't that our job? You emailed all of us saying we're supposed to know this. Why is it a surprise that I know it?

I got offered a fast track to middle management.

Seven interviews coming out of college. Seven job offers. And I didn't realize that just showing up prepared... doing the research, being presentable, doing all the things my dad always told me to do... put me that far ahead.

I didn't realize how little effort people will put into something very basic.

I still think about that sometimes.

No law firm can grow past its owner's internal dialogue.
This doesn't mean what you're saying to yourself is wrong...

But it does represent your limits.

For example...

If you say "referral marketing doesn't work in my practice area where I am" (which I heard recently 🤦‍♂️), you will prove yourself right.

You can also cap your growth by saying, "Well, I just want to increase revenue by 10% and then I'll be happy." Are you absolutely sure, or is that the story you tell yourself because you're hurt from trying to grow and getting knocked back so many times? (Don't feel ashamed. It happens.)

Maybe you are absolutely right...
but examine where the belief is coming from.

Are you expressing the ideas in good faith and with real introspection, or are you avoiding doing something hard but worthwhile?

The kind of ridiculous thought that only occurs when you've been doing this LinkedIn thing long enough...

"Oh shoot, it's 9:06 AM. Did I miss my algorithm window?"

🤷‍♂️

The law firm owner somehow managed to work with eight different idiots.

Maybe the problem isn't the "idiots"...

I've known a few law firm owners who trade digital marketing vendors every 14 months. Every 14 months they say "Well, this person turned out to be an idiot."

I've seen it enough to know why this is happening (sometimes or even most of the time). 

They saw a hot take online. Someone sounding incredibly confident. Obviously has it figured out. Otherwise why would they say something like that?

So they buy. Based on emotion. 

And then surprise... 14 months later...

There's no nuance to it. 

Nobody lives in the land of hot takes 100% of the time.

A hot take might solve a quick problem. It is not a long-term business solution.

And the worst influencers in this space (who are sometimes big voices)? They change their take every 12 months. Because it's good for business.

They talk about something for three months. Let that opinion circulate. Other people reinforce it. Creates a big buying cycle.

Then 12 months later, who pops up? Same person. "Well actually, it's this way now."

And that sends people charging off in another direction. Because they didn't spend the time to figure out what any of this actually looks like for themselves.

We live in a hot take economy. The algorithms encourage it. Say something controversial, get attention. People get hot and bothered and run in whatever direction they've been told to run.

The firm owners who break through? They're students. They learn from multiple sources with a level of depth most people skip past because it's uncomfortable and inconvenient.

They want a single sentence on a note card and call it wisdom.

But wisdom is years of information and experience.

Strong opinions loosely held. 

Not chasing whatever the hottest opinion is this quarter.

An attorney in a top 5 metro told me it was impossible to build a $3 million criminal defense practice.
That no one could have that.

Really?

Because I know firm owners in regions with a quarter of the population who have a $4 million criminal defense law firm.

But he was convinced he'd figured out the facts.

He invented those facts in his brain to support his argument. And because he talked to peers who were the same scale as him (most even smaller) it reinforced the belief that it wasn't possible.

Even though all the evidence was to the contrary.

Same guy told me referrals don't work in his practice area. That people around there just don't refer that type of work to each other.

He's in a top 10 metropolitan area where I've worked with other people just like him. I literally know for a fact that strategy works.

One inaccuracy. One deeply held belief. Potentially held him back for years.

This is what sets me off. "Yeah, that doesn't work for attorneys like me around here." As if they've spoken with all of their competitors to find out exactly what their competitors are doing.

They haven't.

They've decided their experience is the entire truth. And then they find peers who confirm it. Not because it's accurate. Because it's comfortable.

It's like someone who pulls their back lifting a barbell and then tells everyone strength training is dangerous. The wise person says "I had a bad experience. You should still do it. Just be careful."

That's wisdom. 

Not an emotional take dressed up as a fact.

I tell my clients something that makes some of them uncomfortable.

My goal for us is to be right 60 to 70% of the time.

Not 100%. Not 90%. 60 to 70% percent.

And 70% is generous.

We're going to move faster at that pace than most firm owners who are right maybe 15 to 20% of the time on their own.

There's a lot of money to be made in that 40% improvement on decisions.

Poker players who have an advantage are playing with a 52% edge. That's how they make their money. Even the casinos are making their mint on having a 53 to 54% edge against players en mass at the tables.

That's where the money is made. That thin edge compounded over time.

Coaching is one of the spaces that supplies that advantage. I will put better odds in front of you. Smarter decisions. But you have to make and own those decisions.

Some of these things will fail. You still have to accept that.

And yeah, there's going to be some lucky SOB who gets it right 90% of the time because they stumbled into a bunch of right decisions. It happens. It frustrates people. We all want to be that person.

Most of us aren't.

So the question is: do we do the work? 

Do we step up to bat knowing we will fail sometimes?

I'm with Warren Buffett on the type of data you should track in your law firm.
The investing giant once said...

"If you have to carry to the third decimal, it is too complicated."

You can get lost in the details.

When you're a smaller law firm, be careful about trying to fix the tiny data points. You can zoom in too much and get obsessed with work that barely moves the needle for you.

As your firm grows, you can pay attention to smaller parts.

But at first?

Keep it simple.

I've heard several business mentors refer to it as "majoring in the majors." Don't waste time majoring in the minors.

This means some problems will go unaddressed.

There may be some inefficiencies that irk you. But don't let those little prickly parts distract you from the harder, much-needed work on major projects.

If you focus on the big needle-movers, the time will come when you can get into the little bits and pieces.

Oh...

And one last bit of advice.

If you're still obsessing over the little stuff, maybe you've made the whole thing too complicated. Simplify, simplify, simplify.

Why would you ever pay $6 for chalky protein bar?
Because you’re willing to pay what it takes to get what you want… and those are the clients we all want.

I was speaking at an event last year, and I just needed a protein-friendly snack.

The location had a bunch of shops inside.

And if I wanted to leave the campus, I would need to walk quite a ways to a convenience store. Maybe get an Uber.

It was like being in an airport.
AKA, a culinary hostage scenario.

But I was there…
and I wanted the job done.

Give me my 20 grams of protein, please.

So I forked over my $5.76.

And did so happily.

The copywriter Gary Halbert frequently reminded marketers that the number one thing you need to succeed is a thirsty audience. Then, show them the water you have available.

I was the proverbial thirsty audience.
Only I was hungry.
And I wanted protein to satiate me.
Charge me what you will to get the job done.

It’s a smart reminder to law firms…

Are you seeking out the people who need you most?

That’s the first responsibility of your marketing and advertising.

To my lawyer friends, the cold pitching you get lands in my inbox as well. 😆 They keep thinking I'm a law firm. This one was sent to my email newsletter agency account.

To her credit, she's right.

I don't have any positioning about cases... at all.

Pondering this question... when will we see the first law firm IPO on a major stock exchange?

I can't quite tell if it feels really far away (20+ years?) or something we could see in the next decade.

Yet another reason to email your law firm's list more frequently than monthly: cumulative 30-90 day open rate. Here's a quick explainer...

Most firms that send an email newsletter do so once a month.

Which means you get a single shot at opens each month.

The firms we work with at Red Kraken Creative send every single week. Which means 4-5 chances per month to get the open. While each email may get a 34% open rate (yours could be higher or lower), the cumulative rate of opens over the last month from your list is greater than that.

Some people may only open one or two of the newsletters. Some may open all of them. It's not the same 34% of your list every single time.

So your cumulative open/interaction rate may be an additional 10-25% open rate in the last month. (Easiest way to measure is if you have a program that allows for measuring engagements over the last 30-90 days.)

You get more shots to connect.

And your list health is better because of it.

"Should we combine pre-lit and litigation?"
That was on the menu with a law firm owner yesterday.

His firm is scaling up its talent pool.

And they're thinking about the best system to put those people into.

Should the departments be split?
Or should case managers see cases through from start to finish?

Here's what I've seen...

Most personal injury firms are all-in-one until about $1.5-2 million in revenue. That's when some make the split. No surprise, because that's when you have enough people to create that specialization.

Interestingly...

Some of those same firms reverse course and re-combine around $4-6 million in revenue. They don't want to have departments anymore, preferring to silo matters with attorneys and their assigned case manager(s) who shepherd cases from start to finish. It feels easier to hire a lawyer, pair him or her with a case manager, and move cases to them.

And then...

Some go back to departments as they get into the eight figure territory.

So...

What's the right choice?

No one like this answer, but...
it depends.

👉 What's your vision for the firm?
👉 How do cases usually resolve based on your ideal client, current systems, and general market conditions?
👉 Do you like managing talent or systems more?
👉 Are you open to shifting gears based on new information gained down the road?

There's plenty of additional nuance, as well.

All of that to say...

Running a law firm is complicated.

But the good news is...
there's no one way to build it.

Study good models. Match them against your strengths and vision. Find mentors and coaches to help you see the field even more and to challenge and hone your vision even more. Then proceed with confidence. Work hard to get it right. And along the way, you may learn it's not what you really wanted. That's okay. You can change course.

Have you ever changed your law firm's business model?

Is your law firm suffering from "Valentine's Day romance hangover" with your clients?

In relationships, February 14th is romance and roses.
February 15th? Back to the routine.

And for some folks, it can be a reminder of how much effort a person could put into the relationship but only turns it on once a year.
 
The same problem can exist in law firms.

Your marketing is bold.

The reviews talk about how great you are.

Your intake process is smooth as butter.

It's all smiles and courtship.

Then, they actually hire you.

And the file is tossed into operations, where they get to work on the nitty-gritty of the matter. But the romance? It comes to a screeching halt.

Don't let that happen in your law firm.

Here are a few options to fix the problem:

❤️ drop something nice in the mail (not just company swag, though that is worth doing if appropriate - not everyone wants to advertise their family law firm on a hoodie right after getting divorce proceedings started) with a note welcoming the client onboard

❤️ if you aren't the one handling the case, place a personal call to the client the day after they signed the contract, reaffirming their decision and letting them know the team is already hard at work

❤️ create a personal welcome video (it can be brief) and email it to the client

❤️ have a specific swag item on hand that is easy to personalize and drop it in the mail (or pay your kids to use a crafting device to do it for you)

The whole point is to keep the relationship momentum going in the right direction. Depending on the type of work you handle, it could be a lengthy process, and there is bound to be some lowered energy. But you don't need to let it flop right away.

Keep the romance alive.

I saw an online article about the “best store bought butter.” I wouldn’t normally pay attention to that sort of thing. But the publication talking about the best butter was…

Southern Living.

Well, if I’m going to trust anyone about butter, it’s my Southerner friends.

That’s brand in action with content marketing.

Also, who do you think won?

What most think sending a law firm email newsletter looks like:

Set up MailChimp account. Drop text in a cheap, pre-fab template. Press send... when it's convenient.

Easy, right?

Here's what sending an email newsletter looks like for Red Kraken Creative clients:

-- list scrubbing to remove low quality emails
-- double checking the tech stack to make sure DNS records are correct (and taking care of them if they're not... otherwise your emails stand no chance of getting delivered)
-- building a template that removes the extra stuff you don't need (better for deliverability)
-- writing emails with stories and interesting reference points
-- dialing in subject lines
-- testing different call-to-action locations
-- figuring out what the firm's audience wants
-- keeping an eye on the data (and troubleshooting when things go sideways)
-- continually aligning the emails with the overall goals of the firm and quickly pivoting as those shift
-- sending an email every single week (please try to tell me how monthly or quarterly is "better")

Not so easy, right?

Email newsletters are like ducks on the water. Seem calm on top; legs are churning beneath the surface.

But if you're going to do it, do it well.

Who is sending an email newsletter regularly for their law firm?
If not, what's the biggest struggle you have in pressing send?

"Nearly half of Gen Z reported creating a meaningful relationship with AI, according to new research from WPP agency VML’s Intelligence unit."

Just saw that in the Marketing Brew newsletter.

Not sure what meaningful means.

But I don't like it.

taplio

The Battle

Leah Miller, MBA

Charley Mann

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The Battle

Leah Miller, MBA

Charley Mann

Followers

Posts

Engagements

Likes

Performance Score.css-goub6s{font-size:var(--chakra-fontSizes-md);font-weight:500;color:var(--chakra-colors-gray-600);display:block;margin-top:var(--chakra-space-1);}Charley Mann's LinkedIn Performance

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