Smart Lawyers Position to Transition

In this episode, our host Victoria Collier sits down with Lauren Lester, a solo practitioner who offers guidance and support to lawyers looking to optimize their practices for both profit and enjoyment. Throughout this conversation, they highlight the potential for solo practitioners to build valuable, sellable law firms by embracing innovation, systematization, and a client-centered approach. Key Takeaways: Starting a Solo Practice: Lauren shares her experience starting her own practice right out of law school, highlighting the lack of preparation for the business aspect of running a law firm. Embracing Flat Fee Billing: Lauren and Victoria talk about flat fee billing over hourly billing, citing the value it provides to clients and the incentive it creates for efficiency. Coaching and Mentoring Other Lawyers: Lauren discusses her coaching business, A Different Practice, where she helps solo and small firm practitioners optimize their practices for profit and enjoyment. Learn More About Lauren Lauren Lester is a solopreneur who provides affordable help to clients in Colorado with her estate and family law firm Lester Law. Lauren is also passionate about helping lawyers build profitable practices they love. She founded A Different Practice, which offers business coaching and other practical resources for optimizing your law firm for profit and enjoyment. Connect with Lauren Instagram: https://www.instagram.com/mslaurenlester/ LinkedIn: https://www.linkedin.com/in/mslaurenlester/ TikTok: https://tiktok.com/@affordablelawyer Find practical resources to build a practice optimized for profit and enjoyment at www.adifferentpractice.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, our host, Victoria Collier, sits down with guest Mathew Kerbis to discuss his subscription-based law firm and the departure from the traditional billable hour model. Discover why this model not only enhances access to justice but also attracts a larger clientele and boosts revenue for law firms. Key Takeaways: •⁠ ⁠The debate around billable hours •⁠ ⁠The subscription model •⁠ ⁠Artificial Intelligence and Automation About our guest: Mathew Kerbis is The Subscription Attorney. He's on a mission to affordably serve clients at scale via the subscription model and inspire attorneys to abandon the billable hour. He founded the law firm Subscription Attorney LLC after working for private practice law firms for nine years. His firm leverages automations and artificial intelligence to offer more accessible and reasonable prices like legal advice starting at $19.99/month and $49.99/page. Kerbis realized the subscription model could revolutionize the legal profession, so he launched the podcast Law Subscribed to help attorneys make the same choice. He also speaks and writes about how generative artificial intelligence is changing the way law is practiced. Kerbis has presented at ABA TECHSHOW, Stanford's CodeX online community, several other online publications, and as a guest lecturer for law schools. Website: https://subscriptionattorney.com/ LinkedIn: https://www.linkedin.com/in/kerbisverse/ 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, Victoria Collier hosts a conversation with Josh Fitch, co-founder of Troxel Fitch LLC, a multi faceted law firm built to support today's business owners and entrepreneurs. Together they discuss the transformation of law practices into businesses, the challenges and benefits of partnerships, and the importance of setting clear expectations and boundaries. Fitch shares his experience of starting a law firm with a friend from law school, highlighting the treacherous aspects of mixing friendship with business. Key takeaways: Shift in Mindset: The episode highlights the importance of viewing law practices as serious businesses rather than solely legal entities. Business Protection Strategies: Protecting businesses involves establishing clear agreements, planning for ownership changes, and preparing for crisis situations. Role of Lawyers in Entrepreneurship: Lawyers possess valuable skills that can be leveraged in entrepreneurship. About Our Guest Josh takes pride in serving clients' needs, starting with business formation, continuing throughout their business growth, and providing support beyond. Troxel Fitch LLC strives to provide high-quality affordable legal services to entrepreneurs in all walks of life, from venture-backed CEOs to backyard bootstrappers. 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 the Life After Law® series, Victoria Collier has a conversation with Robert Ingalls, the founder and CEO of LawPods. Robert shares his journey from practicing law to venturing into the world of podcast entrepreneurship, offering valuable insights into the transition and the role of podcasting in law firms. He emphasizes the importance of mindset, passion, and seizing opportunities, even in the face of uncertainty. Key Takeaways: •⁠ ⁠From Law Practice to Podcasting •⁠ ⁠The Role of Podcasts in Business Development •⁠ ⁠Networking and Relationship Building •⁠ ⁠Content Marketing Powerhouse •⁠ ⁠Embracing Opportunities and Taking Risks About our Guest Robert Ingalls counts himself among the luckiest people alive. After the challenges of practicing law threatened to derail his career and mental health, he traded in his suit and tie for a shot at entrepreneurship. While there were a few rough years in between, he turned his spare bedroom podcasting hobby into a marketing agency servicing the biggest brands in law. He lives in Raleigh, North Carolina, with his remarkable wife, darling daughters, and a proliferating collection of longboard skateboards. Connect with Robert •⁠ ⁠Website: LawPods https://lawpods.com •⁠ ⁠Email: robert@lawpods.com •⁠ ⁠Social Media: @lawpods (Find LawPods on various social media platforms) 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/ Disclaimer: The views and opinions expressed in this podcast episode are solely those of the individuals involved and do not necessarily reflect the official policy or position of Quid Pro Quo or its affiliates. Listeners are encouraged to seek professional advice and conduct their own research before making any decisions based on the information provided.

In this episode, host Victoria Collier explores the complexities of determining when an offer truly becomes binding in the context of law firm sales. She explores the distinctions that exist between a letter of intent and an actual offer to purchase, shedding light on the nuances and practical implications for both buyers and sellers. Through anecdotes and insights, Victoria provides valuable perspectives from her experience in facilitating law firm transactions, offering guidance on navigating key terms, contingencies, and the role of lawyers in ensuring clarity and protection in business deals. Join Victoria as she demisttifies the process of making and accepting offers, providing essential information for lawyers and laypeople alike. Key Takeaways: •⁠ ⁠Differentiating between a letter of intent and an offer to purchase •⁠ ⁠Understanding the binding nature of each document •⁠ ⁠Exploring key terms essential for making a deal •⁠ ⁠Discussing contingencies and their impact on the agreement •⁠ ⁠The role of lawyers in drafting and interpreting these agreements About Victoria Collier Victoria Collier, JD, CELA, CEPA, CVBA, is a highly accomplished professional who founded The Elder & Disability Law Firm of Victoria L. Collier, PC, in 2003, achieving consistent average gross revenue of $1.5M for five consecutive years before successfully selling the firm in 2020. Since 2008, Victoria has been a trusted consultant, providing valuable guidance to law firm owners on developing specific practice areas within their existing firms and enhancing overall firm value. As a Certified Exit Planning Advisor and Certified Value Builder Advisor, Victoria specializes in advising law firm owners on strategic positioning and transitioning their firms, facilitating a smooth transition into life after law. 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 a world where the traditional boundaries of office space and geography are increasingly blurred, law firm owners face unprecedented challenges and opportunities. Here the question of hands-on versus hands-off management takes on new dimensions, particularly in the legal profession. Today, we explore a paradigm-shifting approach to leadership: being hands-on without the need to physically be there. Join us in this episode of "Smart Lawyers Position to Transition" as host, Victoria Collier, uncovers the secrets to effective law firm management from afar, with our guest, Zaira Solano, leading the charge. About Our Guest Zaira Solano was raised in Weehawken, New Jersey in a tightly knit Dominican family. She is fluent in both Spanish and English. Zaira realized a childhood ambition when she became an attorney. She created a game plan and worked hard to achieve her goals. Zaira worked for several firms throughout the Atlanta area while earning her law degree at Atlanta's John Marshall Law School. Zaira discovered her passion for immigration during law school. Later in her training, she clerked at an immigration firm in Atlanta, Georgia. Zaira also worked in the Fulton County Public Defender's Office in the Complex Case Division. In 2011, Zaira founded Solano Law Firm with a focus on immigration law to serve the Latino community. She believes in providing honest representation and educating clients throughout the process. Contact Solano Immigration Law Firm if you or someone you know needs immigration services for a family member or humanitarian reasons http://solanofirm.com/ Key Takeaways •⁠ ⁠Flexibility is Key: In the virtual era, flexibility is paramount. Zaira emphasizes the importance of adaptability in responding to changing market dynamics and business needs. •⁠ ⁠Empowerment Drives Success: By empowering team members and fostering a culture of trust and autonomy, law firm owners can drive success even in remote environments. •⁠ ⁠Strategic Planning Pays Dividends: Strategic planning is essential for navigating the complexities of law firm management. From setting clear goals to developing actionable plans, Zaira highlights the importance of foresight and preparation. 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, Victoria explores the concept of earnouts in relation to the sales of law firms while also drawing attention to the various pitfalls associated with these types of transactions. Throughout the discussion, she also examines alternative approaches to earnouts when looking to buy or sell a law firm. Key Takeaways: Defining Earnouts: Victoria explains the concept of earnouts and how earnouts tie the seller's compensation to the future performance of the business. Drawbacks of Earnouts: Victoria and Jen explore the negative implications of earnouts for both buyers and sellers. Alternatives to Earnouts: The hosts propose alternatives to earnouts, such as negotiating a set price based on the current value of the business. They discuss structured payment options over time without tying the seller to the future performance. About Victoria Collier Victoria Collier, JD, CELA, CEPA, CVBA, is a highly accomplished professional who founded The Elder & Disability Law Firm of Victoria L. Collier, PC, in 2003, achieving consistent average gross revenue of $1.5M for five consecutive years before successfully selling the firm in 2020. Since 2008, Victoria has been a trusted consultant, providing valuable guidance to law firm owners on developing specific practice areas within their existing firms and enhancing overall firm value. As a Certified Exit Planning Advisor and Certified Value Builder Advisor, Victoria specializes in advising law firm owners on strategic positioning and transitioning their firms, facilitating a smooth transition into life after law. 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," host Victoria Collier engages in a conversation with Laura Cowan, an award-winning estate planning attorney in New York. Together, they explore the concept of the lifestyle lawyer and how attorneys can achieve a better work-life balance while still running successful law practices. With a keen focus on leveraging technology, automation, and strategic planning, Victoria and Laura draw a path forward for lawyers seeking to thrive in a rapidly evolving legal landscape. By embracing change and reclaiming control over their careers and lives, lawyers can unlock new opportunities for growth and success. Learn more about our guest Laura Cowan is the founder of the Law Office of Laura Cowan, a NYC estate planning law firm. She is also the creator of 2-Hour Lifestyle Lawyer, a groundbreaking program that teaches lawyers how to launch and market a virtual estate planning practice. She has been ranked the 2nd BEST Estate Planning Lawyer in New York, has been named a Super Lawyer 2019-2024, and has been featured in Forbes and Entrepreneur. Key Takeaways: •⁠ ⁠Introduction to Laura Cowan and her "2HLL" program designed to help lawyers work less and earn more through smart business strategies. •⁠ ⁠Discussion on the shifting expectations of lawyers in today's society and the importance of defining success on personal terms. •⁠ ⁠Laura Cowan shares her journey into estate planning and how it aligns with her interests and entrepreneurial spirit. •⁠ ⁠Insights into the challenges lawyers face in balancing work and personal life, particularly in light of societal expectations and financial obligations. How to Learn More: •⁠ ⁠Listeners interested in exploring Laura Cowan's program and joining the community of lawyers seeking alternative approaches to practicing law can visit www.2HourLifestyleLawyer.com •⁠ ⁠Book a discovery call here: https://calendly.com/estateplan/2hll?month=2024-02 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 special 100th episode of the "Smart Lawyers Position to Transition" podcast, we're shaking things up with a thrilling game of "Would You Rather?" Host Victoria Collier is joined by her dynamic producer, Jen Edds, for a fun and insightful conversation that will leave you laughing, pondering, and on the edge of your seat! Dive into the excitement as we explore a wide range of topics, from the intricacies of buying and selling law firms to uncovering our business preferences and sharing personal choices. Join us as we raise a toast to 100 episodes of empowering legal discussions, memorable moments, and endless inspiration. Whether you're a seasoned listener or joining us for the first time, this episode promises to be a celebration like no other! About Victoria Collier Victoria Collier, JD, CELA, CEPA, CVBA, is a highly accomplished professional who founded The Elder & Disability Law Firm of Victoria L. Collier, PC, in 2003, achieving consistent average gross revenue of $1.5M for five consecutive years before successfully selling the firm in 2020. Since 2008, Victoria has been a trusted consultant, providing valuable guidance to law firm owners on developing specific practice areas within their existing firms and enhancing overall firm value. As a Certified Exit Planning Advisor and Certified Value Builder Advisor, Victoria specializes in advising law firm owners on strategic positioning and transitioning their firms, facilitating a smooth transition into life after law. 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, Victoria Collier and her podcast producer, Jen Edds, discuss how lawyers can build law firm assets through podcasting. Victoria talks about her experience utilizing a podcast in her elder care law firm and emphasizes the importance of podcasting as a marketing and branding decision. She explains why having a quality podcast also allows you to educate people and screen potential clients. Jen provides insights on building an asset within a firm through podcasting and offers tips for lawyers who want to be guests on other podcasts. The discussion touches on repurposing podcast content for various media platforms and the potential for automation to enhance the law firm's predictability and sellable assets. Jen advises patience and persistence for those considering starting a podcast, emphasizing the long-term benefits. About Victoria Collier Victoria Collier, JD, CELA, CEPA, CVBA, is a highly accomplished professional who founded The Elder & Disability Law Firm of Victoria L. Collier, PC, in 2003, achieving consistent average gross revenue of $1.5M for five consecutive years before successfully selling the firm in 2020. Since 2008, Victoria has been a trusted consultant, providing valuable guidance to law firm owners on developing specific practice areas within their existing firms and enhancing overall firm value. As a Certified Exit Planning Advisor and Certified Value Builder Advisor, Victoria specializes in advising law firm owners on strategic positioning and transitioning their firms, facilitating a smooth transition into life after law. About Jen Edds Jen Edds is the Head Broad in Charge at The Brassy Broadcasting Company. She's on a mission to help purpose-driven industry experts and business owners make an impact by producing podcasts that put them in the ears, heads, and hearts of their audiences. Connect with Jen https://brassybroad.com/ https://www.linkedin.com/in/jen-edds-470351b/ Key Takeaways: Podcasting as a Law Firm Asset: The episode discusses how lawyers can leverage podcasting to build valuable assets for their law firms. Podcasting for Branding and Education: Podcasting is a powerful tool for branding, allowing lawyers to position themselves as experts in their fields and provide the education their listeners seek. Patience and Persistence: Starting and growing a podcast is highlighted as a long-term practice that requires patience and persistence. Listen to the full episode for information on how a podcast can be an asset to your firm, grow your brand, and help you attract quality clients. 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/