Profit with Law: Profitable Law Firm Growth How to Determine Your Firm’s Value and Sell at a Fair Price with Victoria Collier - 370
Shownotes can be found at https://www.profitwithlaw.com/370.
Whether you’re just starting a law firm or have many years of building one up, most of us never think about selling the firm we’ve built. If you’ve never thought about it before, now is the best time to start. Remember: putting this off can be tricky. When you’re desperate to sell, you’ll accept any price, devaluing the effort and years you’ve put into the firm.
The solution? Plan with the end in mind, even if you think you’ll never sell your business.
In this episode, Victoria Collier joins Moshe Amsel to share her insights on the value of having an exit plan. It’s not just about selling — it’s about creating a valuable law firm. Victoria also shares the ins and outs typical of a law firm purchase or sale.
We never know when we’ll need to sell our law firm, and whether or not it happens, planning for it is important.
If you want to build a more valuable law firm and learn about exit strategies, then this episode is for you.
00:00 Introduction
3:08 Introducing Victoria
8:12 Lessons Learned on Leveraging Tech
10:53 How a Law Firm Gets Sold
16:20 How are Law Firms Valued?
21:43 Think Like a Business Owner, Not a Lawyer
25:12 The Investors’ Perspective
28:36 Victoria’s Tips on Selling a Law Firm
Resources mentioned:
Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.
Learn more about the Profit with Law Elite Coaching Program here.
Connect with Victoria: Facebook
Smart Lawyers Position to Transition podcast
Art of Buying and Selling Law Firms Facebook group
Clockwork: Design Your Business to Run Itselfby Mike Michalowicz
Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/
To request a show topic, recommend a guest or ask a question for the show, please send an email to info@dreambuilderfinancial.com.
Connect with Moshe on:
Facebook - https://www.facebook.com/moshe.amsel
LinkedIn - https://www.linkedin.com/in/mosheamsel/