Continuing Education
Lawline offers online, continuing legal education (CLE) for attorneys.
“Having William as part of the team has made a tremendous impact on our ability to not only see what has happened, but provides us with critical insight into where we are headed enabling us to adjust our strategy and tactics to achieve our growth goals for the company. Without his help, we would be flying blind.” David Schnurman, CEO & Founder
The Client
With more than 2.5 million credits earned by its customers, Lawline is one of the leaders in the online continuing education business for attorneys throughout the United States. Through expert faculty members, who provide content for the coursework via videos and webinars, Lawline provides courses that enable attorneys to meet their CLE requirements easily and cost-effectively. Customers can select their courses via an annual subscription, course bundles, or individual courses based on their individual requirements.
The Challenge
The CEO’s Right Hand has been providing fractional CFO services to Lawline since 2015.
We started, in this capacity, with building out an entirely new forecasting / budgeting tool that enables the leadership team to see both the detailed monthly profit & loss statements and high level metrics that provide insight into the trends occurring throughout the business. For example, we created a Management Dashboard that illustrates variances for the latest month and year-to-date results vs. prior month (or prior YTD). The business depends upon results that are achieved in each state so we created views, into revenues and marketing drivers, by state that enable Management to make informed, and timely, decisions as to where to invest in their (new) marketing efforts.
The Solutions
The CEO’s Right Hand manages the accounting/bookkeeping functions for Lawline to ensure timely processing of all vendor payments, bank reconciliations, client invoicing, and all necessary journal entries to ensure efficient month-end “flash” reporting as well as final closings. This data is then integrated into the financial model so that the Management Team has an accurate view of historical trends in light of current forecasts.
As a member of the team, The CEO’s Right Hand has been able to make an impact beyond just forecasting and budgeting tools. Our team has been involved in strategic discussions regarding how to maximize the company’s return on ad spend via multiple sales channels, e.g. SEO, direct sales, e-mail marketing and more. In addition, we provide input to the CEO and Management Team across a variety of topics including employee benefits, organizational structure, compensation, and more.
