Legal Back Office’s Post

Transcript

Hello friends, I'm Sarah Stock. I'm the founder of Stock Legal and cofounder of Legal Back Office, and I'm here today to talk to you about the origin story of Legal Back Office. And it's a fun one. You know, every great company is born from a problem. And the problem that was at the genesis of Legal Back Office was a problem that Stock Legal was really struggling with. In 2017, Stock Legal had just moved into its beautiful new offices here in the Central West End. We were building a strong. Back office here to deliver a really professional invoicing and client follow up procedure because that was really important to me as I was continuing to grow stock legal. We were also dipping our toes into digital marketing and trying to understand what that meant, building out an amazing team here of back office professionals that led to over $100,000 in expenses on my PNL. And as you're growing as a law firm owner and really starting to understand your PNL, that can come as a shock when you see those expenses and what they do to eat into your margin. All of that happened to coincide with a coffee that I had had set up off and on rescheduled for a number of reasons with the amazing Jamie Hall, Jamie and Jamie and I met. We had a lovely coffee, and during that coffee she shared where she was in her journey. And immediately asked, do you want to start a company? And she giggled. We did some business planning. She ultimately said yes. And at that time we go back office once the company was up and running, took over all of stock legals, back office, back office actions from invoicing to AR to collections, financial reporting, bookkeeping and through that process. High as a law firm owner and managing partner learned how to not only really clearly read my financial reports and understand what they meant and what they predicted, but also how to manage to those financial reporting that the financial reports that legal back office provided. That is in and of itself the most critical thing that I have learned, that I've looked to as I've continued to grow this firm. I'm really excited about legal. Back Office's future where it's going, the exciting marketing, digital marketing, services that legal back office can that can offer and all of that for me as a founder at Stock Legal has led me to a place where I now run this firm like a business. And that has made all of the difference in the world and our ability to grow and scale. Thank you so much. Take care.