The Legal CFO with Ryan Kimler

Pricing for Profit — How Law Firms Can Stop Leaving Money on the Table

Episode Summary:
Ryan Kimler dives deep into why law firms often underprice their services and provides practical strategies for implementing effective pricing models. Learn how to evaluate your firm's profitability, set appropriate rates, and transition between hourly and flat-fee structures.
 
Key Timestamps:
00:04 - Introduction and episode overview
01:05 - Why law firms underprice their services
05:02 - How to evaluate before raising rates
07:21 - The 20-25% pricing rule
08:31 - Connecting pricing to profitability
13:40 - Pros and cons of flat-fee pricing
17:30 - Transitioning from hourly to flat-rate pricing
 
About The Show:
The Legal CFO is the show where clarity meets profitability. Each episode breaks down the business side of law with straightforward approaches and strategies to help law firms run smarter, earn more, and scale with confidence.

Payroll Benchmarks — Are You Spending Too Much (or Too Little)?

Episode Summary:
Ryan Kimler breaks down the optimal payroll benchmarks for law firms, discussing the ideal percentage of revenue allocation, staffing balance, and strategic hiring decisions. Learn how to maintain competitive salaries while ensuring operational sustainability in your law practice.
 
Key Timestamps:
00:40 - Introduction to payroll benchmarks
00:57 - Optimal payroll percentage (40-45% of revenue)
03:26 - Salary considerations for solo practices
04:19 - Balancing staff experience levels
05:55 - Impact of staffing on profitability
08:33 - Compensation adjustments in current market
10:15 - Signs it's time to restructure your team
14:25 - Annual planning strategies
17:55 - Case management and tracking
 
About The Show:
The Legal CFO delivers clarity meets profitability strategies for law firm owners. Each episode provides straightforward strategies to help firms run smarter, earn more, and scale with confidence through expert insights from NetProfit CFO founder Ryan Kimler.

Future-Proofing Your Firm — Financial Planning for Lawyers

Episode Summary:
In this episode, Ryan Kimler discusses essential financial planning strategies for law firm owners. He breaks down key metrics for business efficiency, retirement planning approaches, and practical tips for building long-term stability. Ryan shares insights on proper expense allocation, profit margins, and the importance of strategic real estate investments for law firms.
 
Key Timestamps:
00:04 - Introduction and show overview
00:53 - Why financial planning is often overlooked in law firms
02:50 - Differences in approach between solo lawyers and larger firms
04:28 - Discussion on retirement planning for law firms
05:48 - Tips for newer law firms including real estate investment strategies
07:35 - Strategies for long-term stability
08:57 - Breakdown of ideal expense allocations (40-45% payroll, 10-15% marketing, 20-25% overhead)
12:17 - Essential financial metrics and reports to review
15:28 - Recommended tools and software for law firms
 
About the Show:
The Legal CFO with Ryan Kimler, founder of NetProfit CFO, is a podcast dedicated to helping law firm owners gain clarity on their finances, grow their bottom line, and take control of their numbers. Each episode provides straightforward strategies to help law firms run smarter, earn more, and scale with confidence.

What Does a CFO Really Do for Your Law Firm?

Episode Summary:
In this episode of The Legal CFO, host Kevin Rosenquist and Ryan Kimler, founder of NetProfit CFO, discuss the crucial role of a CFO in law firms. Ryan explains the differences between bookkeepers, accountants, and CFOs, while sharing insights on when law firms should consider hiring financial professionals and how they can improve profitability.
 
Key Timestamps:
00:01 - Show Introduction
01:02 - Differences between bookkeepers, accountants, and CFOs
03:34 - When law firms need financial professionals
05:59 - Common law firm financial challenges
09:14 - Strategic approach to business growth vs. cost-cutting
13:07 - Success story: 438% profit increase case study
17:53 - Closing remarks
 
About the Show:
The Legal CFO with Ryan Kimler is a podcast dedicated to helping law firm owners gain clarity on their finances, increase profitability, and take control of their numbers. Each episode features straightforward strategies to help law firms run smarter, earn more, and scale with confidence.
 
Success Story Highlight:
Ryan shares a remarkable case study where his firm helped a law practice increase profits by 438% by improving attorney utilization rates from 52% to over 80%, demonstrating the impact of proper financial management and strategic planning.