Smart Lawyers Position to Transition The Lifecycle of a Law Firm: From Start-Up to Plateau
Every law firm goes through distinct stages: from the hustle of startup, through the rapid growth of scaling, to the challenges of repelling, and finally the stability of plateau.
In this episode, host Victoria Collier breaks down what each stage looks like, how income changes along the way, and when it makes the most sense to sell.
Whether you're just starting out, feeling the stress cracks of growth, or enjoying a period of stability, knowing where you are in the cycle is key to making smart business and exit decisions.
What you'll learn in this episode:
• The four stages of the law firm life cycle: startup, scaling, repelling, and plateau. • How income, expenses, and owner take-home shift in each stage. • Why scaling is the best time to sell, and plateau is the second best. • The risks of trying to exit too early in the startup phase or during repelling.
Take a moment to reflect: where is your firm right now, and what does that mean for your next move?
Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.
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