Frances Joseph is a fractional CFO who helps law firm owners gain clarity, confidence, and control over their finances. With a deep understanding of both accounting and mindset, Frances joins the show to talk about why lawyers need to stop treating their business like an afterthought and start building something sustainable. This episode is a must-listen for anyone running—or dreaming of running—a law firm.
Financial Mindset & Profit First
Frances is a firm believer in "Profit First"—a model that flips traditional accounting on its head. Instead of treating profit as what’s left over, her clients decide on their profit upfront and spend only what’s left after setting that money aside.
“The regular accounting formula is revenue minus expenses equals profit. And we're now saying revenue minus profits equals expenses,” shares Frances Joseph in Episode 191 of You Are a Lawyer.She also helps clients deal with money shame, scarcity mindsets, and the fear of being financially visible. For Frances, numbers aren’t scary—they’re powerful tools. She makes accounting approachable and fun, and she helps lawyers feel in control of their future.
LISTEN TO LEARN
- How and when to hire a CFO for your firm
- What it means to create a profitable business from day one
- The mindset shift that makes lawyers confident about money
WE ALSO DISCUSS
- What it looks like to exit your law firm, even years from now
- Why lawyers often fear financial visibility—and how to overcome it
- How the "Profit First" method helps law firm owners take control
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