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> Cash Flow Needs
post Nov 24 2010, 03:49 PM
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In this video, Ed talks about cash flow issues that all attorneys face and the ways in which these issues can affect your reserves.

What impacts cash flow?

1. The volume of your practice.
• The higher the volume of your practice, the more money you will need to run it.
o You will not be paid until 120-180 days after work is preformed.
2. The Growth of your practice.
• The more you grow the more space, resources and people you need.
• Your insurance will also increase.
o These expenses will come out of your pocket before you get paid.
3. Your credit terms
• How easy are your credit terms?
• What kind of credit do you extend to your clientele?

The more you grow, the more you volume you have, the easier your credit terms: The more the strain on your cash flow.

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