If you know a lawyer tell them to check this out. When you go to law school they might have some conversation about starting your own practice but they definitely don't teach you how to run the financial side of your Law Firm Business. This is a common statement that I hear from lawyers so I am here to help. Here are 3 critical finance topics that you need to know if you are going to run a PROFITABLE Law Firm. You can run a law firm without knowing these but you probably won't be profitable. Also, I am going to talk about a MUST HAVE RESOURCE for Law Firm Owners.

There are a lot of business owners that struggle to see progress and success and it has to do with how they are building their business. After studying and talking to 320 business owners and entrepreneurs I have noticed a very big difference in those that are growing and those that are struggling. One of the big keys lies in the 4 P's mindset. Successful business owners are using the 4 P's to grow their business while others who struggle may only have 1 or two of the P's and they are struggling and it is not a pretty picture. Today I am going to talk about the 4 P's.

Entrepreneurs are very guilty of this and often they don't even realize this, but if you don't fix this, it is going to hurt your business. FIRST, tell a friend to check this out, you know business owners that need to hear this.. When I talk to a lot of entrepreneurs about the financial side of their business there are a few things that they often say that send up red flags and after hearing it so much I decided to put a name to it "Slave Labor Mentality". If you are going to be successful as an entrepreneur you have to conquer this and start thinking more strategically about your business and I know it is not easy but hopefully the points I cover here will help you make the mental switch. Don't be selfish with the insight you just hear share this with a friend and subscribe to see more great videos like this.

Most entrepreneurs fail because business is a GUESSING game for them. When you thinking about where you should invest or spend more time in your business you don't want to randomly pick the first thing that comes to mind. Instead, use your cheat sheet "The Financial Statements" to help make that choice more obvious. Let's consider a question that Peloton executives are asking and ask how can we use the "Cheat Sheet" to figure that out.

People start a business because they want to make money, but after they start the business for some reason they ignore the most critical factors that can help them make money. Here are 3 key areas that you need to pay attention to: 1. Bookkeeping - no one wins a game if you don't keep score 2. Gross Margin - you can't keep selling LOSERS 3. Cashflow - like the body needs food and water your business needs cash

A match made in heaven sounds great when it comes to dating but what if the same thing existed when it came to business ownership? We sat down with Brendan Meyer a premiere Franchise Consultant that is literally in the business of helping executives leave their corporate life by finding the right match among the 5,000+ franchise business options that exist. Enjoy the episode.  ---------------------------------------------------------  The Business Talk Library is a social media show and platform that shares honest and authentic conversations on the journey of entrepreneurship. We feature conversations with entrepreneurs across all industries with a wide array of experience that we believe will be valuable to you as a business owner.    ---------------------------------------------------------  Enjoy our content and want to see more?  Subscribe & Follow the Podcast – @businesstalklibrary  Subscribe & Follow us on YouTube @businesstalklibrary Join us on TikTok, IG, and Facebook! @businesstalklibrary LinkedIn - Business Talk Library --------------------------------------------------------- The Business Talk Library is a social media show and platform that shares honest and authentic conversations on the journey of entrepreneurship. We feature conversations with entrepreneurs across all industries with a wide array of experience that we believe will be valuable to you as a business owner. --------------------------------------------------------- Enjoy our content and want to see more? Subscribe & Follow the Podcast – @businesstalklibrary Subscribe & Follow us on YouTube @businesstalklibrary Join us on TikTok, IG, and Facebook! @businesstalklibrary LinkedIn - Business Talk Library

Having a plan for your business is useless if it's too complicated or it is too cluttered with things that don't really make a difference. This is why the One Page Strategic Plan by Laura Posey is so critical and life-changing for business owners. In this interview, we talk about how Laura's life-threatening situation led her to develop the concept for the One Page Strategic plan and how business owners are using it to build solid businesses. Enjoy the episode.  ---------------------------------------------------------  The Business Talk Library is a social media show and platform that shares honest and authentic conversations on the journey of entrepreneurship. We feature conversations with entrepreneurs across all industries with a wide array of experience that we believe will be valuable to you as a business owner.    ---------------------------------------------------------  Enjoy our content and want to see more?  Subscribe & Follow the Podcast – @businesstalklibrary  Subscribe & Follow us on YouTube @businesstalklibrary Join us on TikTok, IG, and Facebook! @businesstalklibrary LinkedIn - Business Talk Library

When you face defeat you have two options: Learn from it and move on or Stay down and feel sorry for yourself. We learned some great lessons from our discussion with Jimmy Dillahunt Jr; VP of Cadet Constructions. Check out the link in the comments for the full interview. Link in the comments: https://link.chtbl.com/Vl6jgRtu Enjoy the episode.  ---------------------------------------------------------  The Business Talk Library is a social media show and platform that shares honest and authentic conversations on the journey of entrepreneurship. We feature conversations with entrepreneurs across all industries with a wide array of experience that we believe will be valuable to you as a business owner.    ---------------------------------------------------------  Enjoy our content and want to see more?  Subscribe & Follow the Podcast – @businesstalklibrary  Subscribe & Follow us on YouTube @businesstalklibrary Join us on TikTok, IG, and Facebook! @businesstalklibrary LinkedIn - Business Talk Library

People often use the term "leadership" loosely but today we talk to Mike Fogliuolo; Veteran and Managing Director of thoughtLEADERS LLC  about what true leadership looks like and really entails to have a successful business and career. Enjoy the episode.  ---------------------------------------------------------  The Business Talk Library is a social media show and platform that shares honest and authentic conversations on the journey of entrepreneurship. We feature conversations with entrepreneurs across all industries with a wide array of experience that we believe will be valuable to you as a business owner.    ---------------------------------------------------------  Enjoy our content and want to see more?  Subscribe & Follow the Podcast – @businesstalklibrary  Subscribe & Follow us on YouTube @businesstalklibrary Join us on TikTok, IG, and Facebook! @businesstalklibrary LinkedIn - Business Talk Library