Smart Lawyers Position to Transition

In this episode, Victoria Collier delves into the critical factor of timing when it comes to selling a law firm. Drawing on real-world experiences and success stories, she discusses the multi-phased process of preparing and selling a law firm, emphasizing the need for a strategic approach and dispelling common misconceptions. About Victoria Collier Victoria Collier, JD, CELA, CEPA, CVBA, founded The Elder & Disability Law Firm of Victoria L. Collier, PC (dba The Estate & Asset Protection Law Firm) in 2003; built it to a consistent average gross revenue of $1.5M for five years before selling the firm in 2020. Since 2008 Victoria has been consulting with law firm owners on how to build specific practice areas to their existing firms and how to build value within the firm. Victoria is the author of 47 Secret Veterans Benefits for Seniors: Benefits You Have Earned but Don't Know About! and The Road to Success, Amazon #3, co-authored with Jack Canfield (author of Chicken Soup for the Soul series), – Chapter 6, Road to Niches. As a Certified Exit Planning Advisor and Certified Value Builder Advisor, Victoria advises law firm owners on how to position to transition their law firms so they can have a life after law. Key Takeaways: •⁠ ⁠The Illusion of Infinite Time: Victoria discusses the common belief that time is infinite and how this mindset can impact decisions, especially in the legal business. •⁠ ⁠Selling a Law Firm Takes Time: Victoria shares insights into the unrealistic expectations some law firm owners have regarding the speed of selling their firms. •⁠ ⁠Stories of Varying Timelines: Real-life examples of law firms with different timelines are discussed, illustrating the impact of various factors on the selling process. Remember to subscribe so you don't miss out on any new episodes of Smart Lawyers Position to Transition! We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

In this episode, host Victoria Collier sits down with Rocky Lalvani, a certified profit first professional and host of the Profit Answer Man podcast. Together, they explore the crucial topic of prioritizing profits in your business. The podcast delves into the challenges lawyers face in managing their practices, including issues related to pricing, value billing, and the importance of understanding the business of law. About Rocky Lalvani: Rocky Lalvani's remarkable journey began when his parents immigrated to the United States, starting anew in their 40s, chasing the American dream for the second time. Despite facing adversity, including the loss of his mother at a young age, Rocky has achieved both financial and life success. Embracing principles of saving, investing, and wise spending, Rocky transitioned from a pharmaceutical sales career to retire from corporate America. Now dedicated to helping small business owners understand finances, Rocky leverages his firsthand experiences in corporate, independent work, and small business management, aiming to provide valuable insights at a fraction of the cost of a dedicated financial manager. Key Takeaways: •⁠ ⁠Start Small, Think Big: Rocky emphasizes the importance of taking baby steps when implementing profit-first strategies. •⁠ ⁠Automation with Relay Bank: Discover how Relay Bank, an automated financial tool, can streamline the process of allocating funds for profit, taxes, and other business expenses. •⁠ ⁠Mindset Matters: Rocky and Victoria delve into the mindset issues that entrepreneurs, including lawyers, face when it comes to spending, societal expectations, and lifestyle choices. Connect with Rocky: •⁠ ⁠Listen to Rocky Lalvani's podcast, Profit Answer Man https://profitanswerman.libsyn.com/ •⁠ ⁠Connect with Rocky on LinkedIn https://www.linkedin.com/in/rocky-lalvani/ Explore Quid Pro Quo Law's offerings for lawyers interested in selling or buying law firms at quidproquolaw.com We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

In this episode of Smart Lawyers Position to Transition, your host, Victoria Collier, takes a deep dive into the intricate process of closing the gap and orchestrating a successful sale of a law firm. With her wealth of experience and expertise, Victoria unravels the layers of complexity surrounding this pivotal aspect of the legal business landscape. The central theme of this episode revolves around three pivotal gaps that demand meticulous attention: the money gap, the risk factor versus opportunity factors gap, and the emotional gap. Each of these gaps plays a significant role in the overall strategy required to navigate the complexities of selling a law firm. As Victoria guides listeners through these three pivotal gaps, she outlines a strategic approach to address them in a specific order. Commencing with the financial gap, the journey progresses towards understanding and mitigating risks and maximizing opportunities, culminating in bridging the emotional gap. We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

Upleveling Your Business. The podcast explores the theme of systematizing freedom in business and life, focusing on Kristen's journey from being a trial attorney working 85 hours a week to building a million-dollar-plus business that thrived without her presence. She highlights the significance of creating and refining policies and procedures, sharing her experience of selling her law firm and the impact of well-documented manuals on the business's value during the sale. Key Takeaways: Transition from Law Practice: Kristen shares her personal journey, highlighting the challenges of managing a law firm and the pivotal moment when she realized the need for systems and processes. Building Systems for Business Success: Kristen discusses the significance of creating policies and procedures, emphasizing the role of checklists, videos, and visual aids in the learning process. Selling a Law Firm with Systematized Processes: The podcast delves into how having well-documented policies and procedures became a significant negotiating asset when Kristen sold her law firm. Life Changes Post-Law Practice: Kristen shares how cutting ties with her law firm allowed her the freedom to run a virtual company and travel the world. Connect with Upleveling Your Business and Kristen David: Listeners can reach out through direct messages on social media or visit the website uplevelingyourbusiness.com for more information. $500 off any of our systems packages (retail $1497-$3000) with coupon code THRIVE. They can be found at https://www.uplevelingyourbusinesssystems.com/ https://www.facebook.com/the.kristen.david https://www.facebook.com/UplevelingYourBusiness https://www.linkedin.com/in/kristendavid/ https://www.instagram.com/uplevelingyourbusiness/ https://www.instagram.com/thekristendavid We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

In this podcast episode, host Victoria Collier interviews guest Josh Fonger, CEO of WTS Enterprises, and expert in helping entrepreneurs transition from working in their business to working on their business. The discussion revolves around the importance of systems in a business, with a focus on the "Work the System" (WTS) methodology. Josh shares his journey into becoming a systems consultant and highlights key elements of the WTS method. Key Takeaways: The Importance of Systems: * Josh emphasizes the significance of systems in a business, introducing the "Work the System" (WTS) methodology. Client Scenarios: * Josh shares real-world scenarios of clients, such as a solo practitioner scaling to build a team, a busy law firm seeking efficiency, and a practice preparing for sale. Mindset Shift for Business Owners: * The conversation explores the mindset shift required for business owners to transition from being employees to true owners focused on growth. WTS 120-Day Program: * Josh introduces the WTS 120-day program, designed to intensively guide business owners in working fewer hours, freeing up cash flow, and establishing foundational procedures. Learn more at wtsenterprises.com Get a free book summary of "Work the System" at wtsenterprises.com Connect with Josh Fonger * josh@wtsenterprises.com * wtsenterprises.com We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

In today's episode, host Victoria Collier explores a fundamental aspect of the acquisition process: the delicate balance between knowing what you want and embracing flexibility. As a seasoned expert in the field, Victoria shares valuable insights into the importance of having a clear vision when considering law firm acquisitions while also navigating the unexpected twists that demand flexibility in decision-making. Whether you're a current law firm owner seeking expansion or an associate aspiring to step into ownership, this episode provides strategic guidance on aligning your vision with the ever-changing landscape of the legal business. Key Takeaways: The Need for Clarity: Discussion on lawyers often lacking a well-thought-out plan when considering acquisitions. Strategic Thinking: Highlighting the superficial desire for growth versus a strategic, long-term approach. Building the Bigger Vision: Discussing the lack of emphasis on the bigger vision beyond office particulars, size, and profit. Maintaining Vision During Acquisition: Advice on creating a clear vision and staying focused. Remember to hit the like button and subscribe to our podcast to receive ongoing advice and enjoy compelling guests every Thursday! We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

In this episode, we have the privilege of hearing Ken Hardison's remarkable journey from humble beginnings to becoming a highly successful lawyer and business owner. Ken's narrative is a testament to the power of strategic marketing and business acumen, exemplified by his bold move of borrowing half a million dollars for advertising, resulting in a significant uptick in cases. Throughout the conversation, Ken delves into the challenges he faced, emphasizing the necessity of establishing robust infrastructure and systems to navigate rapid growth. As well as having a client-centric approach. Key Takeaways: 1. The Entrepreneurial Journey: Ken reflects on his personal journey, from founding a law firm to successfully navigating the complexities of entrepreneurship. 2. Building A High-Performing Team: Ken emphasizes the critical role of assembling a team of "A players" for sustained growth. 3. Marketing Strategies for Law Firms: A deep dive into the ever-evolving landscape of legal marketing. 4. PILMMA: Navigating Resources for Law Firm Owners: Introduction to PILMMA and its role in providing resources, coaching, and mastermind groups tailored for law firm owners. PILMMA mastermind program https://www.pilmma.org/mastermind/ We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

In this episode of Smart Lawyers Position to Transition, Victoria Collier engages in a conversation with Sid Upadhyay, CEO of Wizehire. Together, they navigate the ever-evolving terrain of legal staff recruitment while unraveling current trends and dispensing invaluable insights on the challenges and opportunities when hiring. Key Takeaways: Introduction to Wizehire: Sid Upadhyay introduces Wizehire, an award-winning recruitment and onboarding platform for small and medium-sized businesses. Addressing Hiring Challenges: The importance of attracting and retaining top talent in a market where 99% of lawyers who want a job already have one. Trends in Hiring: Exploration of trends in remote hiring and the benefits of casting a wider net for potential candidates. Broader Hiring Trends: A broader look at societal changes influencing hiring trends, including the embrace of remote work and increased expectations for benefits. How to Connect with Wizehire: Listeners are invited to explore Wizehire and take advantage of exclusive benefits, templates, content, and discounts by visiting wizehire.com/quidproquo Visit their website to learn how you can build your dream team today. https://wizehire.com/partnerships/quidproquo We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

In this episode of "Life After Law," host Victoria Collier engages in a candid conversation with Jennifer Thomas Collier, a seasoned assistant district attorney who took a hiatus from the legal field to focus on parenting. Jennifer's journey, marked by passion, perseverance, and a recent return to law, serves as an inspiring narrative for those navigating career transitions. Key Takeaways: 1. Early Career and Passion for Prosecution: Jennifer shares her childhood aspiration to become a prosecutor. 2. Transition to Parenthood: The transition from a thriving legal career to becoming a devoted full-time stay-at-home parent. 3. Exploring New Paths: Jennifer's venture into the field of college counseling and independent educational consulting. 4. Return to Law: Get Insights into Jennifer's decision to return to law after a 13-year hiatus and the challenges she faced during the initial reorientation. As Jennifer embarks on a new chapter in her legal career, her story exemplifies resilience, adaptability, and the enduring impact of professional connections. This episode serves as a source of inspiration for lawyers navigating life's transitions, showcasing that passion for the law can withstand the test of time. We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

Matt Spiegel, CEO of Lawmatics, shares his journey from lawyer to legal tech innovator, discusses the three-phase client journey, highlights the power of AI in content creation, emphasizes data-driven decision-making, and stresses the importance of embracing a customer service business model in law firms.