Let’s face it the digital age is here to stay
Everyday Social Media marketing techniques are helping many entrepreneurs grow their businesses and if you are one of those you haven’t yet got used to the idea, now is the time to jump on board.
I sympathise however as there are quite a few Social Media platforms out there and knowing which ones you should choose to market your business strategically can be quite overwhelming, especially if you try to use too many in your marketing strategy.
There is one such Social Media platform which I recommend you can get started with.Email marketing once used strategically to together with your overall marketing strategy can help you grow your business.
Email has been around since the early part of the millennium but has developed significantly over the past decade to be more than just a normal communication tool.You most probably use email during your day to day business communication with clients but you can also use Email Marketing as part of your Social Media strategy to grow your business.
Here are 5 ways you can grow your business with Email Marketing:
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Managing cash flow is one of the biggest problems many small business face and Solicitors are no exception.
Having enough funds to pay staff on time, pay yourself and expand the business can be very challenging when there isn’t enough cash to do so.
In many experience working with small and medium-sized law firms I have come up with a few of my own observations in managing ash flow. So here are my 7 Strategies to managing cash flow to ensure you meet your financial obligations
1. Budget, budget, budget. I know you have heard this a thousand times before but preparing a budget is key! Budgeting for income and expenses can help you to make better financial decisions in your business.
2. Compare variances. Compare your budgetary finances against your actuals. Prepare a cash flow forecast as this allows you to analyse where your income and expenses are being received and spent so you can make adjustments.
3. Implement a credit control system. If you have outstanding debts it is important to maintain an active debt collection service. Make financial arrangements for clients you are unable to pay your fees on time so you have regular income being paid to your account.… Continue Reading
(1) Do you often wonder why some practices are doing so well
while others are just surviving?
(2) Are you recording and billing clients in a timely manner to
minimise your overdraft?
(3) What new steps are needed to comply with the changes
in the Solicitors Regulation Authority (SRA Rules)?
(4) Can you meet an officer from the SRA with the confidence
that you are compliant?
(5) Have you been filing quarterly VAT Returns to HMRC by
the due date?
(6) How efficient is your payroll function in meeting the PAYE
and NICs requirements?
(7) Which group of your clients should be given high priority
based on their value to your practice?
(8) How often do you monitor the performance of your practice?
Daily? Weekly? Monthly? Annually?
(9) Should your practice be looking to expand into new
(10) Would you have to discontinue any services in order to
pursue new business?
Legal Cashiers and Accounts Managers can help you. They can
be catalysts offering support to a successful law firm. Their contribution
exceeds the costs to engage them.
Competent all-round Legal Cashiers or solid Accounts Managers
who have been trained and qualified with the ILFM (Institute of Legal Finance Managers) or another
accounting organisation are helping successful law firms realise their
fullest potential. Often their jobs are amalgamated with running
the office, part of the practice management especially in smaller law firms.