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Cash Flow Management: 4+ Bank Accounts to Maximize Profits
Manage episode 355964236 series 3394067
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Discover how to maximize your cash flow and never worry about money management again! Learn about Cash Flow Management with this podcast episode which discusses a new cash flow method that could help improve your firm's profitability. This method involves having four to five bank accounts, including an income account, an operating expense account, a profit account, and a tax savings account. It also includes tips on how to maximize profitability, such as avoiding bad clients, raising rates, billing regularly, and double-checking expenses. Additionally, learn how to save on expenses, such as looking at staffing expenses, physical space needs, and vendor arrangements. "If you don't ask, you shall not receive." In this episode, you will learn the following: 1. How can firms ensure profitability and cash flow management with a new cash flow method? 2. What are the tips to maximize a firm's profitability and cut expenses? 3. What strategies can be used to negotiate with vendors to save money? For more episodes and a free Law Firm Owner Profit Toolkit, go to https://lawandprofit.com
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