A seven-figure law firm should not have a cash flow problem. And yet many do. The money comes in, the money goes out, and at the end of the quarter the owner is the last one paid, if paid at all.
The fix is not more revenue. It is a different order of operations.
In this masterclass, Darren Wurz, CFP®, founder of The Lawyer Millionaire®, walks through how to install, run, and refine the Profit First system inside a law firm, so profit comes off the top before expenses get a vote.
What you will learn:
The five foundational accounts every law firm needs, and what each one is for: income, profit, owner’s compensation, tax, and operating expenses
How to calculate your target percentages for profit, owner’s comp, tax, and OPEX, and where to start if your current numbers are nowhere close
The 10th and 25th distribution rhythm: how twice-a-month allocations replace end-of-quarter guesswork
How to pay down firm debt without starving operations
How to build a business emergency fund, and how large it needs to be
The PRU method for auditing every expense: profitable, replaceable, or unnecessary
How to measure marketing ROI by channel so you stop funding the ones that do not pay
Whether you are setting up Profit First for the first time or have been running it for years and want to tighten the system, this is the step-by-step version.
This masterclass is part of the 2026 Profit on Purpose series, built on Profit First by Mike Michalowicz. Later sessions cover Simple Numbers and The Great Game of Business. Links below.
📞 WORK WITH ME
Are you a law firm owner ready to turn your firm’s success into personal wealth? Book a free, no-pressure strategy call: https://www.lawyermillionaire.com/strategy
📊 WHAT IS YOUR FIRM WORTH?
Get a free estimate of your law firm’s value: https://audit.lawyermillionaire.com/firm-value
📘 GET THE BOOK
The Lawyer Millionaire (American Bar Association), the complete guide for attorneys on maximizing wealth, minimizing taxes, and retiring with confidence: https://www.lawyermillionaire.com/the-lawyer-millionaire-book
🎧 THE LAWYER MILLIONAIRE PODCAST
Apple Podcasts: https://podcasts.apple.com/us/podcast/the-lawyer-millionaire-podcast-business-financial/id1617888607
Spotify: https://open.spotify.com/show/1UzNhoXUtW9qsDTdDCE30k
All episodes: https://www.lawyermillionaire.com/episodes
📚 MORE FOR LAW FIRM OWNERS
Free resources: https://www.lawyermillionaire.com/law-firm-owner-resources
Upcoming events and masterclass replays: https://www.lawyermillionaire.com/events
▶ KEEP GOING: THE PROFIT ON PURPOSE SERIES
More Clients, Zero Profit? The Growth Trap: https://youtu.be/QDJRXN-rFng
The 4 Numbers Every Law Firm Owner Must Know: https://youtu.be/zxmrpyaXYTU
The 6 Disciplines of Strong Cash Flow for Law Firms: https://youtu.be/aRfxLKC2SX8
The Science of Scaling for Law Firms: https://youtu.be/PUeVpuso1-A
Open-Book Management: The Great Game of Business for Law Firms: https://youtu.be/AFfL1V33jCo
🔔 SUBSCRIBE for weekly strategies on law firm profitability, tax planning, and building a work-optional future: https://www.youtube.com/@thelawyermillionaire/
🔗 CONNECT
Website: https://www.lawyermillionaire.com
LinkedIn: https://www.linkedin.com/company/the-lawyer-millionaire/
Instagram: https://www.instagram.com/thelawyermillionaire/
Facebook: https://www.facebook.com/thelawyermillionaire/
TikTok: https://www.tiktok.com/@thelawyermillionaire
Hosted by Darren Wurz, CFP®, founder of The Lawyer Millionaire and financial planner and business advisor for law firm owners. Investment advisory services offered through Wurz Financial Services, LLC. This content is for educational purposes only and is not individualized financial, tax, or legal advice.