190: The 5 Profit Leaks Killing Law Firms with superstar CFO Kelley Brubaker

Jay talks with Kelley Brubaker, CFO and founder of Profit Scale Thrive, about why many law firms grow revenue but still struggle to build real profit. Kelley shares her journey into accounting and business ownership, then breaks down the financial blind spots she consistently sees holding firms back.

The conversation centers on five common profit leaks: failing to capture billable client costs, weak collections systems, forgotten subscriptions, unproven marketing spend, and lack of tax planning. Each issue may seem small, but together they quietly drain cash and limit growth.

Jay and Kelley keep the focus practical, showing how simple systems and better habits can immediately improve cash flow. The core message is clear. Profit is not just about earning more. It is about keeping more, and building a business that truly supports your goals.

Key Topics

00:59 – Introduction to Kelley Brubaker and her journey into accounting

01:31 – How a red Porsche shaped her career path

02:59 – Lessons from Big Four and transitioning to entrepreneurship

05:07 – Why business ownership is harder than expected

05:59 – The power of continuous learning and masterminds

07:59 – Success leaves clues: patterns among top performers

08:59 – Introduction to profit leaks and the “dripping faucet” analogy

10:59 – Why revenue goals can mislead business owners

11:40 – Profit Leak #1: Failing to capture client costs

12:20 – Profit Leak #2: Weak or nonexistent collections systems

15:13 – Profit Leak #3: Forgotten subscriptions draining cash

19:07 – Profit Leak #4: Unproven marketing spend

22:03 – Profit Leak #5: Lack of tax planning

25:32 – The importance of focusing on net profit

26:44 – Simple weekly habit to fix financial blind spots

27:43 – Tune into The Golden Rapid Fire Questions

Resources Mentioned

Technology

ClickUp (task management software) – ClickUp – https://clickup.com

Books

Profit First (book) – Mike Michalowicz – https://www.amazon.com/dp/073521414X

Podcasts and Blogs

Life Beyond the Briefs (podcast) – Brian Glass - https://podcasts.apple.com/ca/podcast/life-beyond-the-briefs/id1651002001My Shingle (blog) – Carolyn Elefant – https://myshingle.com

About our Guest:

Kelley Brubaker, CPA is a fractional Chief Financial Officer who helps law firm owners bring clarity and confidence to their financial decisions. Known as the “Law Firm Number Whisperer,” Kelley specializes in translating complex financial data into practical insights that firm owners can use to grow sustainably and protect profitability.

Working exclusively with law firms, she steps in when financial decisions start to feel uncertain—providing clear visibility into cash flow, profitability, budgeting, and long-term planning. Her approach helps attorneys move beyond reactive financial management and operate their firms with the discipline and strategy of a true business.

Through her work as a trusted financial advisor, Kelley helps law firm leaders understand their numbers, make smarter decisions, and build firms that are both profitable and sustainable.

https://www.profitscalethrive.com/

About Jay Berkowitz:

Jay Berkowitz is a best-selling author and popular keynote speaker. Mr. Berkowitz managed marketing departments at: Coca-Cola, Sprint and McDonald's Restaurants, and he is the Founder and CEO of Ten Golden Rules, a digital marketing agency specialized in working with attorneys.

Mr. Berkowitz is the author of Advanced Internet Marketing for Law Firms, The Ten Golden Rules of Online Marketing and 10 Free Internet Marketing Strategies that went to #1 on Amazon. He is the host of the Ten Golden Rules of Internet Marketing Webinar and Podcast. He has been profiled by the Wall Street Journal, The Business Journals and FOX Business TV.

Mr. Berkowitz was selected for membership as a TITAN for Elite Digital Marketing Agencies, he is the recipient of a SOFIE Award for Most Effective use of Emerging Media, and a Special BERNAY’s Award.

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