In this episode, Alay and Victoria discuss:
- How Victoria’s career as an estate planning lawyer led to her current role.
- Why valuation is the first step to selling your law firm.
- Building value in your law firm to position it for a max profit sale.
- Naming your firm for marketing and selling.
- Your value is more than just your gross or net income.
- Phone and website traffic can affect the value of your law firm.
- You want to have a plan and know what you want when selling your law firm.
- “One of the most valuable things is the team. If the owner can step away, and that business continues to make money, that is valuable.” — Victoria Collier
- “If you’re looking to sell your law firm, think about those competitors – because oftentimes they might be very interested in acquiring your firm.” — Alay Yajnik
- “Having a name that’s not tied to you, in general, is good because it’s more marketable to your clients if you’re telling them what you do, instead of who you are.” — Victoria Collier
About Victoria Collier, Founder and CEO of Quid Pro Quo:
Victoria is a seasoned entrepreneur with over 20 years of experience in the legal industry. In addition to building and selling her own 7-figure law firm, she has been coaching lawyers since 2008 on how to add value to their law firms.
As the founder and CEO of Quid Pro Quo, it is her mission to guide others in finding their path to life after law. There is an art and a science to creating turnkey law offices, positioning to transition, and selling for profit. Victoria holds certifications in exit planning and business valuations.
For more information visit https://quidproquolaw.com/ OR
Click the Link to schedule a 45-minute “Increase My Law Firm’s Value” Clarity Call with Victoria.
Connect with Victoria Collier:
Facebook Group: https://www.facebook.com/groups/1284225722042602/
Connect with Alay Yajnik:
One Page Strategic Plan: LawFirmSuccessGroup.com