I’ve written before about how buying a law firm can be a very effective, low-risk, and low-cost means to grow a practice. That said, what is it about the legal profession that, on occasion, makes it more challenging to sell a practice than hoped? As a consultant and coach, I’ve worked with hundreds of lawyers of all shapes and sizes in virtually every state and practice area. From that experience, I’ve become somewhat of an expert in understanding the DNA of those in our profession. Here are three fundamental truths in the DNA that impact buyer behavior. I call them the “do-nots.” ... Read More

When purchasing a law practice, buyers seek revenue they ordinarily could not obtain on their own. For example, buyers hope that, with the proper introductions, the relationships that a seller has with repeat clients can be successfully transitioned to the buyer. The same can be said for a seller’s referral network, be they former clients or other professionals. ... Read More