Everything You Need to Know about Buying and Selling Law Firms with Tom Lenfestey

Are you prepared to maximize your law firm's value and ensure a successful sale?

Join Moshe Amsel and returning guest Tom Lenfestey, founder of The Law Practice Exchange, as they delve into the intricacies of law firm valuations and preparations for sale from a seller’s perspective. Moshe and Tom discuss essential factors affecting firm valuation, from financial health and branding to the importance of normalized financials and systems in place. They also explore the critical steps needed to prepare your firm for a profitable exit and the role of clean financial records in attracting buyers.

Listen now to uncover expert tips for enhancing your firm's profitability and achieving a successful exit strategy!

 

Episode Highlights

[00:00] Part 1 Recap: Everything You Need to Know about Buying and Selling Law Firms with Tom Lenfestey 

[06:52] How to Determine the Value of a Law Firm

[13:08] Calculating the Total Owner’s Benefit

[27:39] The Structure of Law Firm...

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Writing Books to Build Legal Authority with Melanie Herschorn

Ever wondered how writing a book could transform your legal practice and establish your authority?

Join Moshe Amsel and Melanie Herschorn, a book marketing expert and publisher, as they delve into the benefits of book writing for attorneys. With over 20 years of experience in celebrity PR, journalism, and entrepreneurship, Melanie shares her insights on how a well-crafted book can be a game-changer for your professional reputation and business growth. Throughout this episode, Moshe and Melanie cover key considerations, practical tips for busy lawyers, and the financial investment involved in the book-writing process.

Listen now to discover how you can start your book-writing journey and stand out from the competition!

 

Episode Highlights

[00:00] Introduction to Melanie Herschorn

[04:12] Legal Ink: Why Attorneys Should Consider Publishing Their Expertise

[08:00] Is a Book Right for You? What Every Attorney Should Ask Before Writing

[17:17] How Much Time and Money Go Into...

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Optimizing Market Leadership through Google Business Profiles and Local Services Ads with Ben Fisher

Are you struggling to maintain growth and maximize the potential of your Google Business Profile?

Join Moshe Amsel and Ben Fisher, Google Business Profile Diamond Product Expert and co-founder of Steady Demand, as they dive into critical strategies for business growth, managing Local Services Ads (LSAs), and navigating Google Business Profiles (GBP). Moshe and Ben reveal how to sustain market leadership, tackle invalid leads with AI-driven processes, and the importance of accurate business information. 

Listen now to discover the best strategies for safeguarding your business, enhancing lead generation, and ensuring your Google Business Profile remains compliant and visible!

 

Episode Highlights

[00:00] Introduction to Ben Fisher

[08:07] What is a Google Business Profile and How to Optimize It

[16:18] The Risks in Google Business Profiles and How to Not Get Your GBP Suspended

[27:31] How to Get Out of a Suspension

[35:41] Best Practices for Google Business Profile Reviews...

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Evolving Your Law Firmā€™s Marketing Approach with Bobby Steinbach

Ever wondered if your marketing strategy is leaving money on the table?

Join Moshe Amsel and Bobby Steinbach, co-founder of Mean Pug Digital, as Bobby shares why marketing shouldn’t stop once you've acquired a client. He delves into the importance of ongoing client engagement to boost referrals and foster repeat business. Moshe and Bobby discuss essential marketing metrics, cost-effective tracking methods, and how to allocate your marketing budget for optimal growth. Learn why your marketing strategy should resemble a balanced investment portfolio and the benefits of bespoke marketing solutions!

Tune in to discover the tailored marketing strategies that can help your law firm stand out and grow!

 

Episode Highlights

[00:00] Introduction to Bobby Steinbach

[07:03] How Much of a Law Firm’s Revenue Should Be Allocated to its Marketing Budget?

[11:21] Where Should Solo Lawyers Start Spending in Marketing?

[27:02] Climbing the Marketing Ladder

[36:36] Some Small Law...

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Visionary Legal Leadership: The Blueprint for Law Firm Excellence with Ryan McKeen

How do small adjustments lead to massive success in your law firm?

Join Moshe Amsel as he interviews Ryan McKeen, co-founder of Connecticut Trial Firm and Best Era LLC, for a deep dive into how small, consistent changes can lead to big wins in business. Ryan shares his journey, offering insights on finding the right mentors, financial planning, and building the resources he wished he'd had when starting out. Learn how his Slack community and consulting services empower law firms to thrive!

Tune in now to discover the strategic shifts that can transform your law firm's success!

 

Episode Highlights

[00:00] Introduction to Ryan McKeen

[12:57] The Journey of Connecticut Trial Firm

[22:19] From Zero to a Million: How Long It Really Takes to Build Revenue

[37:11] Overcoming the Top 3 Challenges that Law Firm Owners Have

[49:25] The People Behind Ryan’s Growth and Success

[55:02] A Sneak Peek into Best Era 

[01:07:11] Ryan’s Parting Piece of Advice

 

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Boosting Law Firm Profitability through Effective AR Management in Law Firms with Matt Darner

Are you struggling to maintain cash flow and handle collections in your law firm?

Join Moshe Amsel and Matt Darner, co-founder and VP of business development at Collbox, as they dive into strategies for improving accounts receivable (AR) management and maintaining healthy cash flow. Matt shares insights from his extensive experience in automating financial processes, emphasizing the importance of friendly, consistent follow-ups and clear expectations. Moshe and Matt discuss setting higher retainers, utilizing flat fees, and employing specialized collection services to reduce workload and enhance client satisfaction. They stress the importance of defining a structured payment cadence, using technology, and the effectiveness of weekly billing to minimize disputes and maintain transparency.

Listen now to uncover strategies to streamline your law firm’s collection processes and ensure financial stability for sustainable growth!

Episode Highlights

[00:00] Introduction to Matt...

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Optimizing Your Business Finances for Personal and Business Financial Success with Justin Buonomo

Are you increasing your revenue but still facing the same financial troubles?

In this podcast episode, Moshe Amsel sits down with Justin Buonomo, CEO of Journey to Financial Freedom, to explore why increasing your income alone won't solve money problems. Justin discusses the importance of addressing underlying financial behaviors and implementing effective systems before focusing on earning more. Get practical tips on managing business finances, budgeting effectively, and making long-term financial changes!

Ready to transform your financial habits and achieve true financial stability? Tune in now to learn how!

 

Episode Highlights

[00:00] Introduction to Justin Buonomo

[13:43] 4 Steps for Managing Your Personal Finances

[19:36] The Secret Sauce for Securing Your Take-Home Pay

[24:03] How the Right Budget Can Empower You to Live Your Life

[31:10] Why Paying Attention and Measuring Results Change The Game

[37:30] How to Find Hidden Money

[41:55] Justin's Parting Piece of Advice

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Transforming Client Communication and Legal Systems with Brian Glass

Are you struggling to maintain effective communication and client satisfaction in your law firm?

Join Moshe Amsel and Brian Glass, partner and trial lawyer, as Brian shares his expert strategies on creating effective client roadmaps, the importance of personal touch over automation, and why setting clear expectations is vital for client satisfaction. Moshe and Brian also dive into key factors that contributed to an impressive 383% revenue growth in Brian's division and the crucial role of speed and efficient case selection.

Listen now to uncover the secrets to transforming your legal practice and ensuring a positive client experience!

 

Episode Highlights

[00:00] - Introduction to Brian Glass

[14:37] - What Fuels Long-Term Success in Law Firms?

[26:30] - The Secret Ingredients of Exceptional Law Firm Customer Service

[40:53] - The Number One Key to Law Firm Growth

[48:34] - Brian's Parting Piece of Advice



Resources 

Take the Law Firm Growth Assessment and find out how...

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From Burnout to Balance: Overcoming Startup Hurdles and Building a Thriving Law Firm with Margeaux Thomas

Do you feel overwhelmed with the demands of your growing law firm and your desire to maintain a healthy work-life balance?

Join Moshe Amsel and Margeaux Thomas, owner of Thomas Law PLC, as Margeaux shares her journey of overcoming hiring challenges and improving her firm's productivity and growth. Moshe and Margeaux discuss important strategies like hiring the right people, the role of business coaching, efficient time management, and delegation to help law firm owners achieve sustainable growth while maintaining a healthy work-life balance.

Listen now to learn practical tips on hiring, delegation, and balancing work with personal life to elevate your law firm's success!

 

Episode Highlights

[00:00] - Introduction to Margeaux Thomas

[07:45] - The If-Only's of Starting a Law Firm

[17:50] - Margeaux’s Top 3 Best Decisions for her Law Firm

[32:25] - Then vs. Now: How the Law Firm Life Compares Over Time

[42:27] - Margeaux's Parting Piece of Advice

 

Resources 

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The Key to Scaling Your Law Firm: Implementing an Operating System with Sharon Means

Are you ready to take your law firm to the next level with data-driven strategies and systems?

Join Moshe Amsel and Sharon Means, a seasoned fractional integrator, as they explore the importance of core values, the implementation of business scorecards, and the Entrepreneurial Operating System (EOS) for law firm success. Sharon shares her journey, insights on customizing and growing your team, and the crucial role of tracking meaningful metrics. Together, they discuss the significance of hiring the right people aligned with your firm's core values and the practical steps to achieve scalability and operational efficiency.

Listen now to discover how these transformative strategies can propel your law firm to new heights!

 

Episode Highlights

[00:00] Introduction to Sharon Means

[12:01] Which Operating System is Right for You?

[14:33] Exiting the Solo Stage: The Hiring Process

[24:19.] The ABC’s of Measuring Results

[35:14] Creating Your Law Firm’s Scorecard

[37:14]...

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