John Scott, CPA, AEP, is a Partner in the Tax Services Group at Anders CPAs + Advisors, where he leads the firm’s estate planning practice and legal industry efforts for the virtual CFO team. With extensive experience helping clients be more efficient, competitive, and profitable, he offers resources and financial insight to address complex issues facing law firms.

Finances are one of the most crucial components of law firm growth, but many lawyers don’t understand how to analyze their P&L statements and other relevant documents and metrics. What concepts should you employ when preparing your finances for growth?

According to CPA and law firm financial advisor John Scott, the four fundamental metrics for scaling a law firm include cash, financials, production, and your pipeline. You must put aside 10-30% of your cash flow to cover overhead and other expenses. Additionally, John suggests outsourcing your finances to a qualified bookkeeper who can reconcile your documents monthly to accelerate decision-making. The production metric involves generating cash flow from your services, whereas the pipeline necessitates evaluating each team member’s capacity.

Join Luis Scott in the latest episode of The Guts and Glory Show as he hosts John Scott, a Partner at Anders CPAs + Advisors, to discuss the financial metrics for growing a law firm. John describes the ideal TOB percentage, alternative legal fee structure, and the value of hiring a virtual CFO.

David Neagle is the President of Life is Now Inc., where he helps purpose-driven entrepreneurs and small business owners scale their companies to seven- and eight-figures. Having spent more than 20 years in the coaching and mentorship industry, he has worked alongside well-known mentors like Tony Robbins, and his clients include prominent people like best-selling authors and coaches.

David is the author of the best-selling book The Millions Within, which delves into intention, focus, and awareness. His coaching has expanded to more than 30 countries, and he has been featured on CBS, NBC, and Fox and in publications like the Wall Street Journal, Inc., and Entrepreneur.

We hear many conflicting narratives about money throughout our lifetimes, some of which are negative beliefs we internalize from our parents. These ideologies become embedded into our mindset, hindering success. Is it possible to grow your business by changing your mindset?

According to mindset and money coach David Neagle, the success of your business depends on your daily decisions. If you believe increasing your income is difficult, you’ll always work harder than necessary. Instead, you must consciously alter the value systems you employ when evaluating growth decisions. This requires recognizing the source of your limiting beliefs and deconstructing their reasonings to unlock profitable opportunities.

Join Luis Scott in today’s episode of The Guts and Glory Show as he welcomes David Neagle, the President of Life is Now Inc., to talk about the correlation between mindset and success. David shares how to escape from the cycle of toxic beliefs, how to attract more clients by changing your mindset, and his recommended books for success.

Alex Morgan is the Co-founder and NLP Trainer at Athens NLP Studies, the number one NLP training company in Greece. As a master trainer of neurolinguistic programming, hypnosis, coaching, and Time Line TherapyTM techniques, he offers training courses and programs for CEOs, entrepreneurs, and salespeople to instill motivation in their personal and professional lives. Alex is the author of How To Let Go Of Negative Emotions and Pro Hypnosis Scripts.

Many entrepreneurs hold limiting beliefs about their capabilities, especially regarding making money. This often stems from childhood memories they have internalized as unconscious emotions. How can you reprogram your mindset to unlock endless growth possibilities in your personal and professional life?

After facing significant heartbreak and debt, NLP coach Alex Morgan began leveraging hypnosis techniques to overcome his negative emotions. The first step to transforming your beliefs is to recognize and discover the source of your emotions. This includes identifying the associated behaviors and childhood events that precipitated them. Once you’ve processed these negative emotions, take action by incorporating and repeating healthy habits. For instance, if you’re struggling to attain the next stage of revenue growth, expand the boundaries of your goals to manifest positive results.

Listen to this episode of The Guts and Glory Show as Luis Scott sits down with Alex Morgan, the Co-founder of Athens NLP Studies, to discuss changing your perspective through NLP techniques. Alex explains the correlation between confidence and business growth, the hypnosis process, and how to overcome negative thought patterns.