How do you build, value, and sell a law firm for 8 figures?

In this episode of Lead Counsel, host Tom Tona, founder of TonaLaw, is joined by succession planning experts John Hawkins, Ed Alexander, and Dan Feiman to dismantle the myths and uncover the reality behind law firm succession, valuation, and exit strategies.

This powerful roundtable dives deep into the psychological resistance lawyers face around succession, the common failures of even experienced estate attorneys, and the real stories of law firms that exited for 7 and 8 figures. From internal succession structures to private equity rollups, this episode is a masterclass for attorneys who want to grow or sell their firm without leaving money on the table.

Key Highlights:

• The biggest internal roadblocks preventing attorneys from planning for succession

• A real-life 8-figure law firm transaction and what made it possible

• The future of private equity in law and what firm owners need to know

• How to use alternative business structures (ABS) and multistate entities to facilitate growth or exits

• Valuation metrics explained: what buyers are looking for and how to prepare

• The truth about “second bites of the apple” in PE deals

• How to position your firm for acquisition—internally or externally

Whether you’re years from retirement or considering a sale now, this episode delivers concrete strategies and success stories that prove your practice is a business with scalable, sellable value—if you do it right.

Featured Guests:

Jonathan Hawkins
Website: Law Firm GC
LinkedIn: Jonathan Hawkins

Daniel Feiman
Website: Build It Backwards
LinkedIn: Daniel Feiman
Books on Amazon: Daniel Feiman

Ed Alexander
Website: Alexander Business Law
LinkedIn: Ed Alexander
Books on Amazon: Ed Alexander

Your Host:

Tom Tona
Founder & Managing Attorney, Tonalaw
Website: https://www.tonalaw.com
LinkedIn: Tom Tona
X: @NYPITrialGuy

This podcast is sponsored by TonaLaw.

TonaLaw is not just another law firm. They're defining what it means to fight for their clients. We get a lot of attorney referrals from across the country. We pay fee participation in all jurisdictions where it's permitted. We focus on integrity, innovation and relentless advocacy. TonalLaw is proving that the business of the law can scale without losing its heart. Do you want to see how a modern firm is built for impact and happy client referrals? Check out tonalaw.com mention again the Lead Counsel Podcast and I'm happy to get on the phone with you.

This episode is also brought to you by Meet Gabbi, the voice AI built for law firms. Gabbi answers your phones 24-7, qualifies leads and books consultations so you never miss another client. Imagine cutting intake time in half or giving every caller a five star experience. That's the power of Meet Gabbi. Learn more at meetgabbi.com mention the Lead Counsel Podcast. You can also hit me up and I'm glad to make an introduction to the owner.