Many of you think that you can’t sell a law firm because it is so reliant on talent. But the reality is that successful law firms continue to provide amazing value.

Let’s discuss the concept of enterprise goodwill and the repeatable processes that will make your business ready to sell.

 

In This Episode We Discuss:

• What you need to be creating for your law firm for it to have value and make it sellable. 
• Creating the greatest value in your law firm by having justifiable, quantifiable, recurring revenue.
• How the more systematized your business, the easier it is for you to hand over your law firm.

 

My Favorite Excerpt From The Episode:

TIME: 00:01:46 (35 Seconds) 

So there's personal reputation, which is your personal goodwill, i.e. that someone would pay value to have you think about personal goodwill being what you bank upon when you change law firms. So if you're working at John Doe's Law Firm and you want to go to Susie's Smith Law Firm, when you interview with Susie Smith, you're going to be selling yourself right. The person becomes the entity value. When you are selling a law firm, your reputation may be a part of the ultimate value that's being purchased.

 

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https://www.lawfirmmentor.net/speak-with-a-growth-strategist 

 

Allison Bio:

Allison C. Williams, Esq., is the Founder and Owner of the Williams Law Group, LLC, with offices in Short Hills and Freehold, New Jersey. She is a Fellow of the American Academy of Matrimonial Lawyers, is Certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney, and is the first attorney in New Jersey to become Board-Certified by the National Board of Trial Advocacy in the field of Family Law.

Ms. Williams is an accomplished businesswoman. In 2017, the Williams Law Group won the LawFirm500 award, ranking 14th of the fastest-growing law firms in the nation, as Ms. Williams grew the firm 581% in three years. Ms. Williams won the Silver Stevie Award for Female Entrepreneur of the Year in 2017. In 2018, Ms. Williams was voted as NJBIZ’s Top 50 Women in Business and was designated one of the Top 25 Leading Women Entrepreneurs and Business Owners. In 2019, Ms. Williams won the Seminole 100 Award for founding one of the fastest-growing companies among graduates of Florida State University.

In 2018, Ms. Williams created Law Firm Mentor, a business coaching service for lawyers. She helps solo and small law firm attorneys grow their business revenues, crush chaos in business and make more money. Through multi-day intensive business retreats, group and one-to-one coaching, and strategic planning sessions, Ms. Williams advises lawyers on all aspects of creating, sustaining, and scaling a law firm business – and specifically, she teaches them the core foundational principles of marketing, sales, personnel management, communications, and money management in law firms.