Smart Lawyers Position to Transition

Discover the power of relational law in this episode of Smart Lawyer's Position to Transition with our guest Ali Katz, a lawyer and entrepreneur who created the new law business model. Find out how building meaningful connections and relationships with clients can bring the highest value and purpose to your legal career. Ali shares her inspiring journey from working in a prolific law firm to creating a successful law practice based on lifelong client relationships beyond just legal advice. Tune in to learn more about the New Law Business Model and how to create a more fulfilling career. Go to https://newlawbusinessmodel.com/ to learn more! We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/in/victorywalkcoaching/        

You and your clients are vulnerable unless you subscribe to the Power of Two methodology. Without duplicating costs, learn the importance of cross-training employees and getting them to stop staying in their own lane. Before you have a disruption in your business, listen to this episode!  Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/in/victorywalkcoaching/

In this episode, Victoria Collier takes a deep dive into compensation culture and its critical impact on law firms. From her early career as a paralegal to leading a successful business, Victoria shares her personal journey and explores how compensation practices can reflect the value placed on staff. She discusses creative ways to show appreciation when budgets are tight, the role of key performance indicators (KPIs) in structuring pay, and how different practice areas and firm sizes influence compensation strategies. Whether you’re looking to boost morale, improve employee retention, or build a thriving workplace culture, this episode offers practical insights to help you rethink your approach to compensation. Key Takeaways 1.⁠ ⁠Compensation Reflects Value: Employees perceive their value based on how they are compensated, whether through pay, bonuses, or other benefits. Thoughtful compensation practices—financial or otherwise—can boost morale and foster loyalty. 2.⁠ ⁠Creative Approaches in Tight Budgets: Small firms or firms with tight budgets can still show appreciation through personalized perks like extra time off, flexible work arrangements, or unique rewards like paid vacations. 3.⁠ ⁠KPIs and Compensation Structures: Larger firms with more resources can create transparent pay scales and bonuses tied to exceeding KPIs, aligning compensation with performance and profit. Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this episode, host Victoria Collier breaks down actionable strategies for law firm owners preparing to sell their practices. With December here, it's the perfect time to take steps that can increase your firm's value and attract the right buyers in the new year. From updating financials to revamping marketing materials, this episode will guide you on what to prioritize to maximize your firm's sale potential. What You’ll Learn •⁠  ⁠The Importance of Year-End Financial Updates: Why updating your valuation with the latest data is crucial to positioning your firm for sale. •⁠  ⁠Leveraging December to Prepare for a Strong January: Why now is the time to update your online presence, connect with your network, and plan for targeted ads. •⁠  ⁠Common Red Flags to Address: Key issues to resolve before marketing your firm to potential buyers. And much more! “Updating your year-end financials isn't just important; it's crucial to showing buyers your firm's current trajectory.” – Victoria Collier Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

Since the election a month ago, many lawyers, especially women and those owning immigration law firms, are grappling with uncertainty about how the new administration may affect their businesses. In this episode, our host Victoria Collier goes into the emotional and practical challenges lawyers are facing. They discuss whether to shut down, sell, or even relocate a law firm—and what steps and consequences to consider before making drastic moves. Key Topics Covered Election Results and Lawyer Anxiety Why election outcomes are creating stress for law firm owners, especially women business owners and those practicing in areas like immigration or environmental law. Emotional Impacts How societal polarization and shifting regulations are pushing lawyers into survival mode, with some questioning their ability to continue operating. Finding Opportunities in Crisis How lawyers can pivot their practice areas or perspectives to adapt to changing environments, using immigration law as an example. Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

Are you wasting money on a business coach? Or have you been holding off on hiring one, thinking the timing isn’t right? In this episode, host Victoria Collier speaks with Doug Brown, a seasoned law firm leadership coach, to uncover the truths behind effective coaching. Doug explains how the right business coach can transform your law firm—and your mindset—helping you work smarter, prioritize better, and achieve sustainable growth. Whether you're looking for better team dynamics, improved time management, or more personal freedom, this episode provides the insights you need to make the most of coaching. Key Takeaways 1.⁠ ⁠How to assess whether your current or potential business coach is delivering the results you need. 2.⁠ ⁠The surprising mindset shift lawyers must make to unlock true growth and freedom. 3.⁠ ⁠Why prioritizing leadership and emotional intelligence is essential for building a thriving law firm. About Our Guest Doug Brown is a licensed attorney and the Chief Learning Officer at Summit Success International, where he coaches law firm owners to achieve maximum profitability and sustainability. With a wealth of experience in law, business, and executive coaching, Doug is passionate about helping professionals create scalable and balanced practices. His tailored, empathetic approach ensures that clients get the tools they need to transform both their firms and their lives.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this episode, host Victoria Collier goes into the complexities of lateral partner moves in the legal industry. She explores why attorneys make this career shift, the benefits for both the individual and the firm, and the potential risks involved.  If you've ever wondered what a lateral partner move entails or how it differs from other transitions like mergers, this episode unpacks it all. Whether you're a law firm looking to grow strategically or a partner contemplating a move, you'll gain valuable insights to make informed decisions. Key Takeaways (Without Spoilers): 1.⁠ ⁠Understand what motivates lateral partner moves and why they’re increasingly common in today’s legal market. 2.⁠ ⁠Discover the mutual benefits and challenges for firms and attorneys in these transitions. 3.⁠ ⁠Learn the crucial factors—beyond compensation—that ensure a successful partnership fit. Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this episode, host Victoria Collier, goes into the complexities of law firm mergers. As Quid Pro Quo Law works increasingly with larger firms, mergers have become a significant part of the conversation. Victoria shares insights on the process, typical compensation structures, and the role brokers play in bringing firms together. Whether you're considering a merger or simply curious about the topic, this episode offers valuable information for law firm owners. 3 Key Takeaways from the Episode 1.⁠ ⁠The Strategic Foundations of Mergers – Discover how alignment in vision, client bases, and culture lays the groundwork for a successful law firm merger. 2.⁠ ⁠Compensation Models Demystified – Gain insight into common structures like equity swaps and profit-sharing, and how they impact merging partners' financial futures. 3.⁠ ⁠Navigating Change with Success – Learn how proactive communication and clear planning can ensure smooth transitions for employees, clients, and leadership in the merger process. About Victoria Collier Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law. We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/        

In this episode, host Victoria Collier discusses the practical steps lawyers can take to increase their profit margins and, ultimately, their firm's valuation. She shares advice on reading and understanding P&L statements, the importance of efficient labor management, and why marketing dollars must yield a high return to truly benefit the business. Victoria also reveals some common pitfalls that law firm owners face when they overlook critical profit margin areas—and what actionable steps they can take today to create a more valuable, sell-ready law firm.  Listen now to learn more about leveraging your financials to build a profitable, scalable, and sell-ready firm. Key Takeaways 1.⁠ ⁠Understanding Labor Costs: Learn how labor costs, if left unchecked, can quickly eat into profit margins—and what to consider when analyzing the true cost of staffing. 2.⁠ ⁠Efficient Billing & Systems: Discover why consistent billing practices and streamlined systems are essential to maximizing profit, freeing up time, and avoiding costly inefficiencies. 3.⁠ ⁠P&L for Better Valuation: Victoria explains how even modest profit percentage improvements can significantly impact your firm’s valuation and set you up for a profitable sale.   About the Victoria Collier Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In today’s episode,  host Victoria Collier talks with Spencer Hilligoss, investor in Madison Investing, about what to do after selling your law firm. Spencer shares valuable insights on transforming your sale proceeds into a lasting income stream, exploring how passive investments can open new opportunities for financial freedom. They dive into lessons from Spencer’s transition from tech to investment and discuss strategies law firm owners can use to align their money with their life goals—without getting bogged down in active management. Key Takeaways 1.⁠ ⁠Goal Setting Is Essential – Establishing specific, long-term financial goals creates a strong foundation for successful post-sale investing. 2.⁠ ⁠Passive Income Opportunities – Real estate and alternative investments can offer reliable, passive income with the right planning and partnerships. 3.⁠ ⁠Don’t Reinvest Without Reflection – The initial exit strategy is just the first step; carefully selecting how to allocate your proceeds can enhance security and satisfaction over the long term. About Our Guest Spencer Hilligoss is a passive investor who has deployed 7-figures of his own capital into passive investments in the past 6 years. In 2019, Spencer retired from a 13-year career in Silicon Valley tech companies in order to give full focus to serving fellow investors in Madison Investing - a club where passive investors gain access to the same types of alternative investment opportunities where Spencer deploys his own capital. Spencer lives with his family in Alameda, California - is a proud father of two, graduate of the University of Colorado and member of the Forbes Business Council. For more about Spencer and Madison Investing, visit madisoninvesting.com.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/        

In this episode, Victoria Collier welcomes Philip Fairley, president and owner of The Rainmaker Institute, to explore the transformative impact of effective intake processes and data analytics on law firm growth. Philip shares his journey from tech entrepreneur to law firm marketing leader and provides actionable strategies for building a firm that runs smoothly, scales efficiently, and offers work-life balance for its owners. Whether you’re looking to grow, sell, or streamline your firm’s operations, this episode offers a blueprint to make it happen. Key Takeaways 1.⁠ ⁠Discover the first essential steps to establish a sustainable and scalable law firm model. 2.⁠ ⁠Learn how data-driven decision-making can reveal unexpected growth opportunities. 3.⁠ ⁠Get actionable advice on transforming client intake to improve lead quality and retention.   About Our Guest Philip Fairley is the president and owner of The Rainmaker Institute, a marketing and client generation firm dedicated exclusively to law firms. With a background in tech entrepreneurship, Philip joined Rainmaker after selling his own companies, bringing fresh perspectives on data and client conversion to the legal space. Under his leadership, Rainmaker has co-developed innovative tools like Turbine, a platform that automates client intake, and Rainalytics, a tool for data-driven decision-making. Philip’s mission is to help law firms scale by integrating data, improving intake, and creating operational systems that support a sellable, lifestyle-focused business model. Learn more about The Rainmaker Institute http://www.rainmakerretreat.com/   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this one-of-a-kind episode of Smart Lawyers Position to Transition, the roles are reversed as our host, Victoria Collier, steps into the hot seat. For the first time, Victoria opens up about her personal journey as a law firm owner—sharing the highs, the hardships, and ultimately, her decision to step away from the law. Interviewed by her podcast producer, Jen Edds, Victoria candidly reveals what it was like to face burnout, rediscover her purpose, and navigate the emotional complexities of exiting her firm. This isn’t just another episode—it’s an intimate, behind-the-scenes look at how even the most successful lawyers can find themselves ready for a new chapter. Key Discussion Points •⁠  ⁠Burnout or Time to Leave?: How to tell if you’re experiencing temporary burnout or ready for a bigger change. •⁠  ⁠Listening to Your Body: Victoria explains how physical symptoms can be signals of deeper issues at work. •⁠  ⁠Situational vs. Inherent Discontent: When life events clash with your work, how do you know if it's situational or something more permanent? •⁠  ⁠The Moment of Clarity: A pivotal realization that led Victoria to finally decide to leave her firm. •⁠  ⁠The Emotional Journey: The challenges of letting go of a successful practice and the identity that comes with it. •⁠  ⁠What’s Next?: How selling one law firm led to Victoria’s next big entrepreneurial ventures.   About Victoria Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/        

In this episode, host Victoria Collier talks with Jack Flaherty, author of The Decision Switch, about how lawyers can make purpose-driven decisions to build better firms. They discuss the impact of AI on the legal field, generational divides in marketing, and the value of clear goal-setting. Jack emphasizes the need to align decisions with core values to achieve professional and personal fulfillment, whether growing a practice or preparing for a transition. Key Points •⁠  ⁠The evolving role of AI and technology in disrupting traditional law practices. •⁠  ⁠The importance of embracing change and adapting to new marketing tools. •⁠  ⁠How purpose-led decision-making leads to better outcomes for firms and individuals. •⁠  ⁠Jack’s advice on goal-setting, collaboration, and aligning decisions with values. •⁠  ⁠Mentorship's critical role in navigating industry changes, especially for younger lawyers. Guest Information Jack Flaherty is a coach, consultant, and author specializing in leadership and decision-making strategies. His book The Decision Switch focuses on the principles that guide successful personal and professional decisions. Jack works with law firms and other professional service industries to foster growth through purposeful leadership. Resources Mentioned •⁠  ⁠Jack Flaherty’s book: The Decision Switch (Available on Amazon) •⁠  ⁠Jack’s website: thedecisionswitch.com   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this episode, host Victoria Collier goes into an often overlooked metric when valuing law firms: the sales conversion rate. She explains how the percentage of consultations that convert into paying clients can significantly affect a firm's revenue and overall valuation. Whether you’re preparing to sell or looking to buy a law firm, understanding this key metric can offer deeper insights into a firm's financial health and growth potential. Learn how boosting your conversion rate can enhance your firm's value and make it a more attractive investment. 3 Key Takeaways 1.⁠ ⁠The crucial role conversion rates play in determining law firm value. 2.⁠ ⁠Why buyers should ask about conversion rates—and not just focus on revenue and profit. 3.⁠ ⁠The impact of practice area differences on sales conversion rates and what that means for valuations. About the Victoria Collier Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this episode, host Victoria Collier sits down with Charley Mann, founder of Law Firm Alchemy, to discuss how law firm owners can transform their entrepreneurial mindset and build essential business skills. Charley shares insights on overcoming growth plateaus, marketing strategies for law firms at various stages, and the importance of embracing the identity of an entrepreneur. Whether you’re just starting out or looking to scale your law firm, this episode is packed with practical advice on leadership, marketing, and sustainable growth.   Key Takeaways: 1.⁠ ⁠Entrepreneurial Mindset Shift: Charley discusses how many law firm owners hesitate to embrace their entrepreneurial identity, but doing so is key to unlocking firm growth. 2.⁠ ⁠Referral Marketing Essentials: Charley’s three-part referral marketing plan—meetups, email newsletters, and monthly printed materials—can help law firms build strong, sustainable growth. 3.⁠ ⁠Overcoming Growth Plateaus: If your firm has hit a growth plateau, it’s likely because you need to refocus on one of three key areas: marketing, operations, or finances.   About Our Guest: Charley Mann is the host of "They Don't Teach This in Law School" and founder of Law Firm Alchemy, a company dedicated to providing resources and coaching for law firm growth. With over 14 years of experience in the legal industry, Charley guides law firm owners in optimizing their practices and achieving success. He emphasizes the importance of networking, providing value, and maintaining strong client relationships, focusing on both business operations and personal growth. Known for his approachable demeanor and deep industry knowledge, Charley values integrity, transparency, and genuine connections.

In this special Life After Law® episode, host Victoria Collier sits down with Lora McInturf, a former lawyer turned coach, to discuss navigating personal and professional transitions. Lora opens up about her unique journey from a career in accounting and law to becoming an expat and ultimately finding her passion for coaching. Together, they explore the importance of building a support system for lawyers, the concept of professional supervision, and how lawyers can reconnect with their true selves during times of change. If you’re considering life after law or looking to create a meaningful transition, this episode offers invaluable insights and strategies for the journey.   Key Takeaways: 1.⁠ ⁠Transitions Are Constant: Life is full of transitions, whether planned or unplanned. Embracing the journey, rather than resisting it, can lead to personal and professional growth. 2.⁠ ⁠Build Your Outer Circle: Having a strong support system, including therapists, coaches, and supervisors, is essential for lawyers to navigate burnout and emotional challenges in their careers. 3.⁠ ⁠Reconnect with Your True Self: One of the most critical aspects of making a successful transition is understanding and nurturing your relationship with yourself. Personal reflection and seeking alignment with your true passions are key to finding fulfillment.   About Our Guest Lora McInturf is a former lawyer who pivoted from big law to coaching after traveling the world as an expat. Specializing in professional supervision, Lora works with lawyers and other professionals to help them manage burnout, build resilience, and rediscover their purpose. She is passionate about fostering authentic relationships, both with oneself and others, to enable personal growth and career satisfaction. Lora has authored reflective writing journals for coaches and lawyer coaches, and she continues to inspire professionals to embrace change and take charge of their transitions. For more insights from Lora, be sure to check out her reflective writing journals and connect with her through the links provided in the episode. Connect with Lora LinkedIn: https://www.linkedin.com/in/theinneradvocate/ Instagram: https://www.instagram.com/the_inner_advocate/ Facebook: Lawyers Coaching Lawyers - International Network Women Expat Lawyers and Law Students  

 In this episode, host Victoria Collier talks with Tyson Mutrux, founder of the Mutrux Firm and co-founder of the Maximum Lawyer Guild. Tyson shares his journey from his military background to law school, to building a successful law firm and a thriving community for lawyers. They discuss the power of connections, the importance of creating a supportive community, and how giving more than you take is essential to building lasting relationships. Whether you’re looking to grow your law firm or planning for life after law, Tyson’s insights into building value through community are invaluable. Key Takeaways: 1.⁠ ⁠Community is Key: Tyson emphasizes the importance of creating and nurturing a community, whether it’s among clients, peers, or colleagues. Building deep relationships helps foster growth and long-term success. 2.⁠ ⁠Give More Than You Take: In any community, it’s crucial to contribute and provide value to others. When you offer support and share your knowledge, you’ll find that others are more willing to help in return. 3.⁠ ⁠Authenticity is Everything: Success in any community comes from being genuine and vulnerable. Bringing your true self to the table helps build stronger connections and leads to both personal and professional growth.   About Our Guest: Tyson Mutrux is the founder of the Mutrux Firm, a personal injury law firm, and the co-founder of the Maximum Lawyer Guild, a community designed to help lawyers improve their practices through education, collaboration, and support. With a background in marketing, law, and the military, Tyson brings a unique perspective on building value through relationships and giving back to the community. He co-hosts the Maximum Lawyer podcast, which has grown into a global community of legal professionals. Maximum Lawyer Guild membership:  www.maxlawguild.com   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this episode, host Victoria Collier goes into the world of business valuations, specifically focusing on two essential metrics: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and SDE (Seller’s Discretionary Earnings). These metrics are more than just finance jargon—they are crucial for accurately valuing your law firm or any small business. Victoria shares practical insights into how these metrics differ and why it's essential to use both to get a complete picture of your business’s financial health, especially when preparing for a sale. Whether you're a seller looking to maximize your firm's value or a buyer evaluating a potential purchase, understanding these valuation tools is key. Key Takeaways 1.⁠ ⁠The limitations of EBITDA and how it can skew business valuation results. 2.⁠ ⁠Why SDE provides a more accurate financial picture for small businesses and law firms. 3.⁠ ⁠How to use both metrics strategically when valuing a business for sale.   About Victoria Collier Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this episode, host Victoria Collier is joined by Terrell Turner, CPA and founder of the TL Turner Group, to discuss the essential role of finance in law firm success. Terrell, a passionate advocate for simplifying accounting, shares his journey from corporate finance to helping law firms across the country better understand their financial health. Key Takeaways: 1.⁠ ⁠The Importance of Financial Frameworks: Terrell goes into why a solid financial foundation is crucial for law firms, often overlooked despite being essential for long-term success. 2.⁠ ⁠Simplifying Finances for Lawyers: Discover how Terrell breaks down complex financial concepts into five key metrics, empowering law firm owners to make informed decisions and drive profitability. 3.⁠ ⁠The Law Firm Revenue Calculator: Learn about the innovative tool Terrell developed to help law firms set and achieve realistic financial goals by breaking down revenue targets into manageable steps.   About Our Guest: Terrell Turner is a CPA and the founder of the TLTurner Group, where he focuses on helping law firms across the country better understand their financial health. With a background in corporate finance, Terrell is passionate about making accounting accessible and less intimidating for lawyers, enabling them to achieve their financial goals with confidence. Get your Free Revenue Calculator Tool at: https://www.tlturnergroup.com/lawfirm-revenue-calculator-free   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/      

In this episode, Victoria sits down with Allison Williams, founder of Law Firm Mentor, to delve into the critical role of C-suites in scaling a law firm. Allison provides expert insights on when and how to build a C-suite team to transform your firm from a small practice into a thriving multi-figure business. Discover the strategies for effective leadership, balancing business growth with personal time, and creating a robust team structure that supports your firm's long-term success.   Key Takeaways 1.⁠ ⁠The Importance of a C-Suite Team: Learn why a C-suite might be essential for scaling your law firm to a multi-figure business and how it can impact your firm's efficiency and growth. 2.⁠ ⁠Balancing Growth with Personal Freedom: Discover strategies for growing your firm while also creating more personal time, and why it's crucial to avoid filling your increased revenue with just more business tasks. 3.⁠ ⁠Defining Your Firm’s Needs: Understand how to assess whether your firm needs a full C-suite, a leadership team, or a more streamlined structure based on your long-term goals and desired lifestyle.   About Our Guest Allison Williams is the founder of Law Firm Mentor, a business coaching service dedicated to helping lawyers grow their revenue, streamline operations, and maximize profitability. With a background in guiding law firms through various stages of growth, Allison and her team offer personalized coaching and resources designed to transform law practices into thriving enterprises. She is also the founder of Williams Law Group, a full service family law firm. For more information about Law Firm Mentors programs and services visit https://bit.ly/3STVcgM   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/