Saturday, January 16, 2010

Managing Your Cash Problems

When we are running our own Boutique Law Firm there are times that you have to seek  ways how to solve your cash flows. It is like other business, where you have to evaluate and start marketing yourself and shop around to your customers and show them that you are there to render the legal services which maybe required by your prospective client. Today I went to several of  my customers. After having been 11 1/2 years independent running my firm, now called Suleiman Agung & Co I realize that we have to manage your health and stamina in order for us to keep on  being independent as a Business Lawyer. Every institution or person regardless of the size of their firm, may  face some cash flow problem once a while  in their life time.

The significant element is that every person who are in this earth has a unique life experience where he or she has to struggle to keep on living. There is a motto : You are what you are. You are not changed by the outside infrastructure condition of your business, since the inner power is planted inside you by ALLAH The ALL MIGHTY and not outside you. Of course if you are lucky enough your outside infrastructure may be great. By becoming more old you tend to believe that every person has its own unique life journey, where he or she must  detect the best way to response every test or problem they are facing.

Yes, we really have to be honest and not run away from the problems that you are facing.  You have to have faith in life.You must be patient, tough and not easily surrendering yourself to  the down side  condition which you may face in your life. By writing in this Blog I am actually self talking to myself as a method to seek the answer which has to be  explored and founded by me in solving this cash problems.But talking to oneself is not enough. You must do the correct and  proper action to solve a certain unpleasant situation. 

There may be people who are lucky to succeed in their financial condition. During  the 11 1/2  years  being self employed,  there are some fruitful financial years but there are also some hard time in terms of cash in. Since you are conducting services done by  person, this really depends on the physical and stamina condition of your body. There is no free lunch in this world, nobody will help you but you yourself  has to rise back and take your grip and identify the action that has to be taken.

You must have gained lots of experiences during such time.Frankly speaking sometimes you feel really tired,  since there is no automatic continuous Clients who  always  use  your legal services. In reality there is no automatic on the air situation where Clients will always need your legal services. There is always a risk that you have to take and there are always the subsequent consequences you must face in the real life.  

You have to be really tough and patient. In terms of experiences of providing legal services I really have  a lot of experiences in rendering legal services  to various Business Clients. If you are running your own business legal firm, you have to remember that there are many competitors  who are also rendering  legal services that you are providing. So the competition is really tough, and networking might be a significant element.

One of the business strategy that I am doing as a Business Lawyer is writing legal aspects and your  real life experiences so that you can detect the phase of your life journey to cope with the problems, ups and downs of running you independent life as a Business Lawyer.

Legal Fee pricing of your legal services may also play a significant role, where frequently, Clients may request for a cheap and lesser price, which may be really hard for you to handle and manage your cash  flow.   It appears that Clients really do not care how your overhead expenses are. What they want is receiving legal services with cheap and lesser legal fee.These are my  cash flow experiences in running a boutique law firm in Indonesia now called Suleiman Agung & Co

I am not talking about theoretical cash flow here,  but really factual 11 1/2 Years experiences in running a self employ legal firm. Since I started from scratch and bottom rock, my only problem in running and continuing this self employ Legal practices is how to reduce my operational  expenses to enable balancing the cash in and cash out of my Legal Firm.

In terms  of rendering professional legal services, since I have 30 Years experiencing  working as legal professional Lawyer, I really feel confident in handling and providing the effective and efficient legal services. However in terms of cash flow I really have to combine the need of proper legal fee to cope with my needs  in maintaining healthy cash flows so that I can survive in feeding my family and the continuation of my self employ Legal Firm.                      

         

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