" Accounts receivables are very, very unhealthy for your business. Every dollar of accounts receivable that you have out there is basically $3 that you've got to earn." - RJon Robins
Welcome inside the vault. This is a collection of previously unreleased lessons from eight-figure entrepreneurial mastermind RJon Robins. And in case you didn't see the warning label, this content can be explicit and is for serious entrepreneurs only.
In this lesson from January 2018, RJon dismantles the dangerous myths surrounding accounts receivables with members of How To MANAGE a Small Law Firm. He explains why so many law firm owners feel "safe" holding onto unpaid invoices. RJon shares the personal mindset shift that helped him stop treating A/R like a backup plan, and breaks down the serious financial and ethical consequences of allowing receivables to stack up.
Key Takeaways:
• Why accounts receivables are a financial illusion and a threat to your margins
• The simple math that shows how much you're really losing
• How trust accounts and evergreen retainers protect your firm
• The connection between A/R and bar complaints
• Why lawyers must stop using fear as a justification for inaction
This episode is a wake-up call for law firm owners still tolerating unpaid invoices. RJon shows how cleaning up your receivables isn't just good for business, it's essential for your family as well.
Let's go to the vault!
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