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Το περιεχόμενο παρέχεται από το Tyson Mutrux. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Tyson Mutrux ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
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Plan Your Exit From Your Law Firm with Tom Lenfestey

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Το περιεχόμενο παρέχεται από το Tyson Mutrux. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Tyson Mutrux ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.

Ever thought about buying or selling a law practice?! Our guest on the podcast today, Tom Lenfestey, helps lawyers buy and sell law practices. Law firm real-estate anyone?!

It's a topic that people ask us about all the time and it's interesting because one thing we always hear people say is, “I wanna sell my firm. I'm gonna make it to some name that doesn't have MY name in it.” It’s like the branding and naming is the afterthought to what your end goal with your law firm is.

If you are opening a law firm, what's your exit strategy? This and more is what we talk about in today’s episode. Listen in!

Episode Highlights:

  • 01:30 Meet Tom and hear how he got started in the Law Practice Exchange
  • 04:15 Why it doesn't work for lawyers to sell their practice and just walk out the door, like a dentist
  • 05:50 What mistakes do lawyers make at the beginning when they found their firm AND what structural naming issues pop up when people want to get out. Tom’s advice:
    • Have clean financials
    • Set up a firm brand that is apart from you
    • Build out your systems
    • Train your people
    • Train and operate people on those systems
  • 10:35 How do you tell people you are selling your law firm practice?
  • 13:26 What should people that are thinking about taking over a practice of another think about and ask about?
  • 17:13 What are some red flags you want to look for when you are thinking about acquiring a law firm?
  • 20:13 What is it like to work with Tom and his team to brokerage a deal and acquire a law firm

Jim’s Hack: Find what motivates you! For me its reading books that get me fired up, like: “The 12 Week Year” or “Zone To Win”. You got to fill your brain with positive and idea generating material.

Tom’s Tip: Read the book: Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow

Tyson's Tip: Read the book: “Measuring what Matters” By John Doerr. It's about how to track things in your business. What you should and shouldn’t track.

🎥 Watch the full video on YouTube.

Connect with Tom:

Website

Twitter

Facebook

Linkedin

Linkedin with Tom

Youtube

Resources:

Join the Guild Membership

Meet us in San Diego! The final quarterly mastermind of 2022 still has tickets available! Become a member to purchase your ticket.

Subscribe to the Maximum Lawyer Youtube Channel

Follow us on Instagram

Join the Facebook Group

Follow the Facebook Page

Follow us on LinkedIn


Resources:

  continue reading

800 επεισόδια

Artwork
iconΜοίρασέ το
 
Manage episode 350807457 series 2138740
Το περιεχόμενο παρέχεται από το Tyson Mutrux. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Tyson Mutrux ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.

Ever thought about buying or selling a law practice?! Our guest on the podcast today, Tom Lenfestey, helps lawyers buy and sell law practices. Law firm real-estate anyone?!

It's a topic that people ask us about all the time and it's interesting because one thing we always hear people say is, “I wanna sell my firm. I'm gonna make it to some name that doesn't have MY name in it.” It’s like the branding and naming is the afterthought to what your end goal with your law firm is.

If you are opening a law firm, what's your exit strategy? This and more is what we talk about in today’s episode. Listen in!

Episode Highlights:

  • 01:30 Meet Tom and hear how he got started in the Law Practice Exchange
  • 04:15 Why it doesn't work for lawyers to sell their practice and just walk out the door, like a dentist
  • 05:50 What mistakes do lawyers make at the beginning when they found their firm AND what structural naming issues pop up when people want to get out. Tom’s advice:
    • Have clean financials
    • Set up a firm brand that is apart from you
    • Build out your systems
    • Train your people
    • Train and operate people on those systems
  • 10:35 How do you tell people you are selling your law firm practice?
  • 13:26 What should people that are thinking about taking over a practice of another think about and ask about?
  • 17:13 What are some red flags you want to look for when you are thinking about acquiring a law firm?
  • 20:13 What is it like to work with Tom and his team to brokerage a deal and acquire a law firm

Jim’s Hack: Find what motivates you! For me its reading books that get me fired up, like: “The 12 Week Year” or “Zone To Win”. You got to fill your brain with positive and idea generating material.

Tom’s Tip: Read the book: Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow

Tyson's Tip: Read the book: “Measuring what Matters” By John Doerr. It's about how to track things in your business. What you should and shouldn’t track.

🎥 Watch the full video on YouTube.

Connect with Tom:

Website

Twitter

Facebook

Linkedin

Linkedin with Tom

Youtube

Resources:

Join the Guild Membership

Meet us in San Diego! The final quarterly mastermind of 2022 still has tickets available! Become a member to purchase your ticket.

Subscribe to the Maximum Lawyer Youtube Channel

Follow us on Instagram

Join the Facebook Group

Follow the Facebook Page

Follow us on LinkedIn


Resources:

  continue reading

800 επεισόδια

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