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Video: Mark on Solo De Facto Podcast – Attention to Detail (and Having Great Processes)

Mark Khazanovich, Director of Operations at KORE Accounting Solutions, has a passion for numbers and uses that to its full potential. After majoring in Psychology at Arizona State University, he quickly realized that wasn’t fulfilling his dreams. Instead, he now uses his knowledge of numbers to help solo entrepreneurial attorneys make sure that they are balancing their books the right way and budgeting properly. He joins host Kory Underdown to talk about tips that will help to make solos more successful, such as making sure that they are recouping an appropriate amount of the case related cases expenses they have, because nothing is worse than leaving money on the table.

Takeaways

  • A lot of solo attorneys don’t have a good system in place. You need to have a repeatable, consistent process in place.
  • In terms of accounting, the biggest mistake that attorneys make is that they don’t properly use their data to make better business decisions.
  • Pay attention to the details. To avoid losing money, make sure you are checking your billing statements and that they are accurate.
  • Be aware of what percentage of your case related expenses you are recouping. You don’t want to leave too much money on the table.
  • When it comes to collections, it’s easier to get money at the beginning rather than the end.
  • Firms struggle with trying to integrate data from one hosted service to a completely different one.
  • Calendly is an app that entrepreneurial attorneys should all have. It makes scheduling easier on everyone.

Quote of the show:

“I think that the most important thing we see attorneys get wrong is not having a good system in place. And I don’t mean in terms of the tools. I mean, that’s part of it, but really having processes in place that are repeatable, that are consistent, that you’re able to do that your team is aware of.”

“That’s the biggest reason firms leave money on the table. That’s the biggest reason firms get overwhelmed, I think, or stressed out is just because there’s not good processes and things that should be straightforward, end up falling through the cracks.” “

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