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.
We all have unique abilities, including both strengths as well as weaknesses. One of the biggest keys to success is learning to focus your time, energy, and efforts on developing and using your strengths.
Stop trying to focus on developing your weaknesses. Now I’m all about self-improvement, don’t get me wrong. But, when it comes to growing your law firm, you need to shift your mindset. Spend more of your precious time leveraging your strengths than trying to improve your weaknesses....
We’ve long known the benefits of affirmation and appreciation. Who doesn’t like hearing that they’ve done a good job or that the work they are doing matters? The more we feel appreciated, acknowledged, and affirmed, the happier we are and the harder most of us work to do a good job. It’s human nature. It starts when we can barely walk, proceeds through our school-age years, and continues throughout our adult life. In our personal lives, we readily recognize how...
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...
Some Law Firm Growth Strategies are not for the faint at heart – but bold moves can yield huge returns – especially when it comes to Law Firm Growth by Acquisition.
Here’s what we know right now: There’s never been an easier time to obtain equity or SBA Fund Financing for law firm acquisitions than today. In years past, these companies perceived law firms as too risky – or speculative to value. Not so in 2022. More available cash means growing...
Data is powerful because it allows you to make improvements as you go. Not only does it help you understand your customers’ behavior, but it also enables you to predict market behavior, streamline processes, and answer many of the questions you really need answered as a business.
Although data is powerful, consolidating it when it’s scattered around can be challenging to say the least. This is where Google Analytics comes in: It helps you measure your advertising, website, and social channels’...
