How to Determine Your Firm’s Value and Sell at a Fair Price with Victoria Collier - 370

Profit with Law: Profitable Law Firm Growth

English - March 16, 2023 09:00 - 39 minutes - 27.2 MB - ★★★★★ - 81 ratings
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Previous Episode: How to Leverage Customer Feedback to Boost Your Law Firm with Curtis Davey - 369

Next Episode: Transform into a Supercharged CEO with Joey Vitale

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

Quid Pro Quo Law

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 [email protected].

Connect with Moshe on:

Facebook - https://www.facebook.com/moshe.amsel

LinkedIn - https://www.linkedin.com/in/mosheamsel/