Hiring readiness is a major challenge that confronts law firm owners. On this episode, I discuss 3 hiring tests for law firm owners and why hiring decisions must move from gut feel to objective, data-driven tests focused on cash flow and profitability.

Darren discusses:

How firms can overcome the black hole challenge
Why you need to pay yourself a market based wage?
The two hardest functions to outsource in a growing business.
How to create a written plan to reach market wages over time.
Two questions you must answer before you start hiring.
Why you need to secure a capital safety net before hiring?

Resources:

Book: Profit First – Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential by Greg Crabtree
Simple Numbers 2.0 – Rules for Smart Scaling: A Play by Play Analysis for Pure Growth by Greg Crabtree
Law Firm Profitability Assessment
How to Calculate Your Law Firm Tax Reserve

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