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Attorneys: Do you want to grow or sell your law firm?

April 18, 2017

Filed under: Money,Practice Growth,Selling a Law Firm,Succession Planning — admin @ 12:03 pm

Being a great attorney alone won’t significantly grow your practice’s revenue. And, studying to become the most certified lawyer in your market won’t add value to your practice if you’re hoping to eventually sell it.

However, what does grow revenue and what will position your firm for a profitable sale is creating a strategic business plan at one or both of the two Atticus workshops offered this summer in Orlando.

Double Your Revenue How to Build Your Law Firm for SaleAtticus has taught the Double Your Revenue™ workshop for over a decade to great results. Graduates have doubled and occasionally tripled revenue. At a minimum, some increased by 40%. But no one did it by thinking about it. They took action. You will create your own strategic plan to double your revenue without increasing your stress or overhead.

And, Atticus’ Florida Bar CLE-accredited How to Build Your Law Firm for Sale workshop shows you what it takes to transform your practice into a profitable business and what buyers are really looking for. Determine your practice’s actual value today and create a profitability plan to increase the firm’s worth for a future sale date.

You can find out more about each workshop by clicking on their names above. If you’re ready to register, click here.

Registration for each workshop is $995 for the first attorney and $795 for each additional attorney or staff member from your firm.

Enroll in both workshops and Atticus will deduct $300 off the first attorney’s registration cost, and then you pay only $1,690 to attend both Double Your Revenue ™ and How to Build Your Law Firm for Sale™.

Commit to spending two days away from your office to work strategically ON your practice rather than working blindly IN it. Attend these workshops and implement Atticus’ tools and strategies to make an incredible difference in your life, your team, and your profitability.

Your Exit Strategy Starts Today, Not Tomorrow.

March 17, 2014

Filed under: Money,Practice Growth,Selling a Law Firm,Succession Planning,Uncategorized — admin @ 6:01 pm

The greatest challenge in planning an exit strategy from your law practice is that most lawyers don’t think about working today to make their practice more valuable tomorrow.

They put off thinking through how to make the practice valuable to a buyer. I have looked at this from many different viewpoints, including: selling my practice, looking to buy another practice, negotiating to have lateral partners merge, and examining what is the “real” street value of a practice versus the appraised value.

There are three key things to consider working on today that will increase the value of your practice tomorrow.

  1. Your case management system. There is tremendous value in an updated, thought out, and organized case management system. If you can email all of your clients to announce a merger, a marketing program, a workshop, or a law change, then you are on the right path. If you are thinking, “That is a really neat idea, but I would never do that,” then you may be on the wrong path to making your practice valuable.
  2. Your team. How dependent is the law firm on you? In my experience, the more dependent the firm is on your presence, the less valuable your firm will be to a buyer. The more your team can move work out the door without your intimate involvement, then the more valuable the firm will be.
  3. Your marketing. Do you have an annual marketing calendar? How many great referral sources do you have that you can transfer to a buyer? 100? 10? Or just 2? The more you can help a buyer transfer those referral relationships the more valuable your practice will be.

Potential buyers will be looking to answer three questions in assessing your firm’s value:

Can I run it efficiently? (case management)

Can I get work out the door profitably? (a good team)

What are my marketing resources and can they drive work in the door? (marketing calendar and referrals)

In my experience, lawyers should be working on these key issues with daily improvements to make their practices more valuable when they exit.



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