Law Firms...Stop Being The Bank For Your Clients (...get paid up front!) | Ep 010
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Law Firms...Stop Being The Bank For Your Clients (...get paid up front!) | Ep 010
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About this listen
In this video, Andrew Zihmer of Vertex League shows why traditional end-of-month billing can be detrimental to your law firm's cash flow and client relationships. Discover how the switch to upfront or phased billing can stabilize your finances, weed out bad-fit clients, and streamline your operations. Real-life examples and practical tips make it easy to implement these strategies, ensuring you're paid before you ever lift a finger. Say goodbye to chasing payments and hello to a healthier, more predictable cash flow.00:00 The Problem with Traditional Law Firm Billing00:22 The Benefits of Upfront Payments00:45 Real-Life Examples and Success Stories01:13 Current State of Law Firm Billing01:53 Implementing Upfront and Milestone Payments03:14 Addressing Common Concerns05:23 Practical Steps to Implement Upfront Policies07:51 Mindset Shift: Think Like an Entrepreneur09:00 Final Takeaways and Exceptions09:48 Conclusion: Transform Your Law Firm's Cash Flow