You won't want to miss Audrey Ehrhardt's BRAND NEW Live Event (live from your computer)! Brought to you through Practice42, her goal is to provide you with the education you need to guide the future of the law firm you have spent a lifetime building.
Audrey will walk you through the goals and challenges that emerge when you want to sell your law practice as well as providing you with a step-by-step guide for success you can use as you work through the process. As a veteran attorney, executive coach, and certified behavior consultant, she is bringing to you Case Studies, trial and error (with candid success and failure rates), a real look at what purchasers want, and more to this one day Practice42 Pop-Up Event.
Whether your are planning to sell your practice, purchase one, or are simply testing the waters, she will show you what it takes to actually reach the success you want.
Are you ready for a Working Succession Plan that can work for you to realistically reach your goals? Have you already started one (or are you in one?) but questioning how effective yours is? Questioning how you could make it better? Looking to buy a firm but not sure what to look for?
If you have these questions (or more!), then you won’t want to miss the upcoming Practice42 Live Event!
Ready to learn the details on this conference? Just keep reading right here to get the important details or just click below to register!
Succession planning is not a step to take in your practice without thorough planning. Instead, it should be entered into both thoughtfully and carefully, with an eye both on your current practice needs and the goals for your succession planning. Key components in developing your plan for succession, which we will discuss during this presenter hour, include an assessment of your goals, your timeline, your requirements and objectives, balanced with a candid 10 point audit of your existing practice. This presentation will lay the foundation for this course and provide a path for the future.
At some point, there will come a time when you can no longer practice. Whether it is by choice with a plan in place or through some form of life event that renders you unable to practice, the time will come. The secret to the success in most firms is to have a plan in place and actively implement it on a daily basis. This way, when the time comes, you will be prepared for the transition. Further, you will be prepared for a catastrophe and not leave your practice, and your family, in an extremely vulnerable position. But, how do you do this while actively practicing? Do not miss this key discussion.
How do you value the business you love? The law firm you have put your heart and soul into for the majority of the years of your life? How do you know if you are getting “taken down the river” or “being sold a bill of goods”? How do you know that the experts you work with will not price you out of the market? What is the actual value of your firm, to you? Do not miss the candid discussion on getting the right expert(s) to help you need in your firm.
Have you ever bought anything that didn’t exist? No, right? You want to buy something tangible. Something you can touch, taste, feel, and experience. You probably also want something that already comes with batteries included, as opposed to hunting for them for hours. Think of your practice like this. How can you sell it if you cannot clearly demonstrate value? How can you sell it if you can’t demonstrate a proven solution for how the sauce is made? The simple truth is that it’s not easy to sell a mess. Let us show you the organization tools and structure you need to sell your practice.
Who will you sell your practice to? Where will you sell it? Should you use a law practice broker or not? Is there a risk to selling your firm to an out of state attorney? Better yet, can you create a culture where you hire associates that you can mold into your future senior partners without the risk of them leaving you? Where do you start? How do you structure this process? Don’t miss this key discussion for the future of your practice.
Early, Later, and Immediate Strategies for 4 Sides of Retention in Transfer: Support Staff, Clients, Professional Network, and Your Digital Brand
There are key moments during your process to sell your firm and little is more important than making sure you master all three sides of retention well in hand. Your Support Staff. Your Clients. Your Professional Network. Your Digital Brand. Your purchaser wants these things from you. Do you, however, wish to relinquish your relationship, as well as control over, each piece. These are four parts of your practice that need to be carefully managed through strategies you have selected early on that cover the journey to sale in your practice.
If the decision to sell your practice is the first step, then compensation and value are a quick second. There is no one way to sell a practice. Your circumstances will not exactly match those of your colleagues. The journey is different for everyone. There are, however, key contract provisions you need to protect yourself. There are also key tax considerations that you need to consider and understand as a result of the proceeds that are generated through this process. Do not miss this opportunity to dive into the information you need on this topic.
Running a law firm presents unique challenges that change every day. I have worked with Audrey for years, she has a unique business where she helps address the actual challenges a law firm faces rather than offering a one size fits all solution. She has assisted us with our marketing, staffing, and operations development so I can go on vacation
and not worry about the growth or operation of my firm. I highly recommended that any lawyer looking to grow their firm and have more free time talk to Audrey Ehrhardt.
This course intended only for practicing attorneys and their support staff. Practice42 reserves the exclusive right to cancel or refund any ticket to any attendee at any time, in its sole discretion. If you have questions regarding this policy, please contact us before you register by calling 850-933-5072.
