The brainchild of attorney, Ken Hardison, PILMMA will help you scale your law firm for greater growth and success through membership-based opportunities.
The brainchild of attorney, Ken Hardison, PILMMA will help you scale your law firm for greater growth and success through membership-based opportunities.
The brainchild of attorney, Ken Hardison, PILMMA will help you scale your law firm for greater growth and success through membership-based opportunities.
Buying a Law Firm is Law Firm Growth on Steroids. And Selling your Law Firm can be your Perfect Exit Strategy-
But Growth by Acquisition can be tricky business – Making this strategy work is all about picking the right firm, at the right time, at the right price and going about the purchase the right way.
In Part 1 of this 2-Part Series on Buying and Selling Law Firms, I introduced the concept of Law Firm Growth by Acquisition – including how to know if it’s a wise move for your firm – and some of the questions you should ask yourself when it comes to buying and selling a law firm in today’s market. If you missed Part 1, or just want a quick refresher,
go to: Buying & Selling Law Firms, Part 1
Selling Law Firms
Isometric buying dream house concept, real estate agency service. Real estate property purchase, sweet home buying vector illustration. Smartphone app for real estate buying
WHAT TO DO ONCE YOU’VE FOUND A FIRM TO BUY – WHAT NEXT?
Don’t try to do this on your own-
It’s like a personal injury client representing themselves in court. Not smart.
Instead, seek out an experienced Law Firm Broker- someone who understands how law firms operate, and has experience in helping other lawyers buy or sell law firms.
It is easy to become overwhelmed by all the financial, operational, and marketing details that surround an acquisition. But here’s a secret to making it come together: A successful acquisition rides heavily on what you do before consummating the deal.
Buying And Selling Law Firms
a handshake between two people with law books
Below is a checklist guide to help you as you move forward with your acquisition.
*Note that this list does not include the additional financial, tax and legal due diligence issues- For those I encourage you to consult with your CPA and attorney.
So you’re coming to New Orleans for PILMMA’s Summit. Well, you’re in luck as I’m about to dish out my must see, do, visit list while in New Orleans, from someone born and raised in this great city.
SIGHTSEEING
First up, you’re lucky to have Summit at a hotel in arguably one of the most interesting and unique neighborhoods in the U.S. The French Quarter is an incomparable experience due to its history, culture, architecture and amenities. Take at least a few...
Law Firm Outsourcing with Virtual Assistants is a hot topic in 2022 for law firm owners all across the country. Some lawyers swear by it while others shun the idea altogether. Is Virtual Assistant outsourcing right for your firm?
First – let’s start with the misnomer – Virtual Assistants aren’t limited to off-site legal assistants.
The term encompasses any off-site or offshore contractors hired to provide services for your firm that had traditionally been performed in-house. This could include a litany of activities, from answering the phones, handling intake screening, medical records retrieval, or even traditional paralegal and attorney services such as case prep, drafting or responding to discovery, drafting documents, and performing legal research.
Most lawyers have no idea that they should be creating a niche practice, much less how to make it happen. But this will get you way ahead of the curve and can begin reaping the benefits that law firms who have leveraged a niche market are enjoying now. Increased Revenue. Market Domination. Higher Value Cases.
The broadcast is now starting. All attendees are in listen only mode. Well, hello everyone. This is Ken Hardison and welcome to another monthly Pyrmont webinar....
While many of the above questions seem random, and frankly wide in scope, there is, in fact, a calculated reason behind each one. And the countless others that need to be addressed. Historically, custom-designed television media buying strategies have been the driving force behind successful law firm marketing. And to a degree, that still holds true even in today’s digital world. However, it’s the implications of that digital world which call for the above questions.
One of the biggest things that sets highly successful entrepreneurs apart from most business owners is that they are continual learners. They are never satisfied with the status quo. They are always asking “What if?” They are striving to know more, so they can do more and become more. They are not resting on yesterday’s success, but are striving to achieve greater success today and tomorrow. They understand the importance of acquiring fresh ideas and new insights. With that in...
