Episode 366: Selling a Law Firm – What Every Attorney Should Know

Revenue isn't the only number you should measure in your law firm. You think you're reaching your revenue goals until it's time to run payroll, and then you don't have enough money, or you didn't consider quarterly taxes. Now what?

A lack of accountability creates chaos and crisis, which leads to frustration, mistrust within your organization, and poor results. Learn five signs to help you identify low accountability leaks and how to plug them up in this episode. Accountability starts with culture. As a leader, it is also your job to empower your employees to hold you accountable to attend meetings and follow processes. Empower your team members with responsibility, authority, and permission to do their jobs.

There is no "going back to normal." That work-life that we had before March 2020 is now in the past, and people are forever changing how we're going to work in the future. Leslie McIntyre-Tavella shares what she has learned about retaining employees and attracting new ones in her 35 years in the staffing industry.

Wylie McGraw is here to teach us what unresolved chronic stress is, how it impacts our performance, and what we can do about it. Who you are and how you operate in your life directly affect those around you. When you are optimized and operating at a high level, your life is better, and so are theirs.

Are you avoiding the difficult conversations you should be having? For example, how do you have difficult conversations with friends and family in the workplace that don't turn into a blowup? Kelly Beattie, President and Lead Trainer at FirstStar Consulting Group, is here to help us get the outcomes we want from these uncomfortable conversations. What is the value of having these conversations? When you're talking about ROI in difficult conversations, the value is inefficiency. There is so much unproductive time around the conversations that you are avoiding. That conversation is happening somewhere, and it's usually around the water cooler. It begins to erode productivity. Fostering a culture that supports direct communication in real-time creates more productive teams.

What miracle do you need to create in your business this week? The good news is that you're already making miracles. There is evidence of this everywhere in your law firm and your team. Tension, stakes, and consequences are often catalysts for miracles. If you've heard me say at once, you've heard me say it a million times, “Fear, chaos, tragedy, and a breakdown is a beautiful opportunity for action.” Failure to plan is the catalyst for crisis. So the first thing I invite you to do is get out of "crisis mode."

Eighty percent of businesses never sell because the entrepreneur, or the person who started the business, is not thinking about the buyer. Start thinking about selling your business when you start it. If you haven't already started thinking about your exit strategy, now is the time to start planning and preparing.

A vicious cycle is created when you say, "I couldn't get to it." Learn how a little bit of over-communication and information can get rid of drama and completely transform your day in the office.

Today I'm giving you a framework to help you and your employees make informed business decisions. When you have a strategy or a plan, you feel empowered, and less freaked out about making a decision. The top business areas where we see people getting jammed up are with people, processes, production, profitability, and lastly, marketing.

What kind of client experience is your front-of-house staff creating? Attorney John Strohmeyer gives us tips and strategies to create exceptional client experiences that are simple and inexpensive to implement. John Strohmeyer spent four years working for the Four Seasons Hotels and Resorts between college and law school, so he knows what it takes to create a remarkable client experience.