Ride the Lightning

Checking Out the Financial Health of Your Small Law Firm

April 23, 2020

The Oklahoma Bar Association recently posted a video interview with our friend Pete Roberts, a consultant to law firms. Another friend, Jim Calloway, did the interview. A lot of small law firms are worried about their financial security. I was happy to hear Pete recommend making friends with your banker (we did and it definitely helped us) and having a substantial line of credit (we do).

Pete's advice is geared toward smaller firms, who tend not to have a real budget in the same way as larger firms. Their "budget" tends to be guided by the amount of monies in their bank account.

The interview is under 15 minutes, so it won't take much of your time – I particularly liked Pete's last tip – don't take on clients you shouldn't because you may get burned. AND there are "fake client" scams that tend to arise in difficult economic times – Pete and Jim offer some solid advice that smaller firms need to know to avoid such scams.

Sharon D. Nelson, Esq., President, Sensei Enterprises, Inc.
3975 University Drive, Suite 225|Fairfax, VA 22030
Email: Phone: 703-359-0700
Digital Forensics/Cybersecurity/Information Technology
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