Profit is a Team Sport: What the Great Game of Business Teaches Law Firm Owners (Ep. 177)
What if the key to growing your business isn’t finding more clients but helping your team understand the numbers that drive success?
On this episode, host Darren Wurz uses insights from the principles of open-book management and The Great Game of Business to explain how sharing key financial metrics with employees helps them understand how their work impacts the firm’s success.
Darren discusses:
- Why profit is a team effort not an individual responsibility meant for only the owner of the firm?
- Common objections to financial transparency.
- How to identify your firm’s most important financial metric?
- A simple change in his business that boosted profitability.
- Benefits of financial transparency and open-book management.
- How to empower your employees to think like owners.
Resources:
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- Profit First – Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz (Book)
- The Great Game of Business: The Only Sensible Way to Run a Company by Jack Stack with Bo Burlingham
- Law Firm Financial Reporting Template Pack (Exclusive content)
- Law Firm Profitability Assessment
- How to Calculate Your Law Firm Tax Reserve
- Get your Free Law Firm Audit
Connect with Darren Wurz:
- Want to work with our team? Schedule an Intro Call
- The Lawyer Millionaire Website
- LinkedIn: Darren P. Wurz
- Join The Lawyer Millionaire® Community
- Don’t Miss a Thing! Subscribe to The Lawyer Millionaire® Email List
- Subscribe to The Lawyer Millionaire Youtube Channel
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