Most law firm owners build a business that depends entirely on them—then wonder why no one wants to buy it.
In this episode, we talk with Victoria Collier, founder of Quid Pro Quo, about how to build a firm that’s not only profitable, but truly sellable. Victoria shares what she learned selling her own estate planning and elder law firm after 18 years—and how she now helps other lawyers do the same.
You’ll learn what buyers actually look for (hint: it’s not just revenue), why your firm needs to run without you, and how a shift in mindset can create more freedom and future value. Victoria also shares surprising truths about law firm sales—like the possibility of getting cash upfront—and how AI is quickly becoming a key part of due diligence for buyers and sellers alike.
Listen to our other episodes on the selling your practice:
#369: Selling Your Practice, with Tom Lenfestey Apple | Spotify | Lawyerist
#326: A Succession Plan for Your Law Practice, with Tom Lenfestey Apple | Spotify | Lawyerist
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Chapters/Timestamps:
00:00 - Introduction: The Mindset of a Sellable Law Firm
02:45 - The Dangers of Being the Bottleneck: Why Delegation Matters
06:58 - Lessons from a Successful Firm Sale: What Works and What Doesn't
09:22 - What Buyers Look For: Red Flags and Green Lights in Your Firm
21:52 - Surprising Realities of Selling a Law Firm: Financing and Debt
31:21 - AI's Role in Increasing Your Firm's Value
34:02 - Life After Law: Preparing for Your Next Chapter
36:46 - The Fundamental Mindset Shift: Owning a Business, Not Just a Job
37:50 - Taking the First Steps Toward a Sellable Firm
