The Questions You Should Be Asking about High Profit Law Firms
Smart Lawyers Position to Transition
High profit? Sounds like a dream. But is your law firm’s profitability actually as valuable as you think it is to a buyer? In this episode, our host Victoria Collier breaks down why impressive profit margins aren’t always enough to close the deal. She dives into the critical questions buyers are asking today, about staffing, systems, and sustainability, and why many high-profit firms fail to deliver when it counts. If you’re planning to sell your law firm, or considering buying one, this episode will help you see beyond the numbers and understand what truly drives value in a firm....
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Wrapped in Leadership: Building Your Law Firm's Future Team
Smart Lawyers Position to Transition
Think your law firm’s leadership structure doesn’t matter until you're bigger? Think again. In this powerful episode, Victoria Collier has a candid conversation about one of the most overlooked — yet most valuable — assets in your firm: your leadership team. Whether you're a solo attorney or running a growing practice, the way you develop and delegate leadership determines more than just your daily workload — it shapes your firm’s scalability, sellability, and freedom. 3 Key Takeaways 1. The Foundation of a Valuable Firm – Discover why a strong internal leadership team is...
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Getting to YES: The Right Way to Notify Clients of a Law Firm Sale
Smart Lawyers Position to Transition
Selling a law firm isn’t just a deal—it’s a delicate transition. In this episode, Victoria Collier reveals why notifying clients the right way can make or break the entire sale. If you're a law firm owner thinking about an exit (or an acquisition), you'll want to hear how to go far beyond the basic ethics requirements to actually retain clients, preserve goodwill, and protect your firm’s value. Discover how to craft a personal and strategic notification process that builds trust, secures buy-in, and keeps clients from walking out the door. 3 Key Takeaways 1. Why a simple...
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Intellectual Propery in a Law Firm Sale: Who Owns What?
Smart Lawyers Position to Transition
When it comes to selling a law firm, one often overlooked asset could make or break your deal: intellectual property. From books and blogs to courses and client materials, knowing what belongs to you and what stays with the firm is essential. In this episode, Victoria Collier tackles the complexities of IP and explains how it can influence the value and structure of a law firm sale. Key Takeaways 1. Intellectual property is more than just patents—learn what counts and why it matters in a sale. 2. Discover how clear IP ownership can increase firm value and reduce legal gray areas....
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How Law Firms Use AI to Increase Value Before They Sell
Smart Lawyers Position to Transition
What if using AI could make your law firm more profitable and easier to sell? In this episode, host Victoria Collier reveals how artificial intelligence is changing the way law firms operate and how it can significantly boost your firm’s value before a sale. She shares highlights from the Lawyers on the Beach conference in Cancun, where lawyers gathered to explore the latest AI tools that are reshaping the legal industry. From automating documents to improving client communication and optimizing billing, discover five powerful ways AI can help grow and scale your practice. Key Takeaways...
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Increase the Value of Your Law Firm Using These Systems
Smart Lawyers Position to Transition
When it comes to selling a law firm, most attorneys focus on client lists, revenue, and team structure. But there’s another, often overlooked asset that can significantly increase a firm’s value: systems. In this episode, Victoria explains how well-documented systems can turn a law practice into a scalable, sellable business. She explains what “systems” really mean in a legal context and why investing in them now can pay off in both time and valuation later. Whether you plan to sell soon or not at all, this episode lays out a smarter way to build a law firm that works without...
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Debt is Not the Enemy: Why Smart Law Firm Buyers Use Leverage
Smart Lawyers Position to Transition
Why are so many lawyers paralyzed by the idea of taking on debt, especially an SBA loan with a personal guarantee, when buying a law firm? In this candid and empowering episode, Victoria Collier breaks down one of the biggest mindset roadblocks law firm buyers face: the fear of debt. Through personal stories, real-life examples, and strategic insights, she shares how successful entrepreneurs use leverage, how lawyers can adopt that mindset, and why refusing to use debt may be costing you more than you think. If you're on the fence about acquiring a law firm, this episode might be the...
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Law Firms as an Asset Class: Why Buying a Law Firm is a Smart Investment
Smart Lawyers Position to Transition
What if buying a law firm could be your next smartest investment—right alongside stocks, real estate, or even better? In this episode, host Victoria Collier explores the concept of law firm ownership as a wealth-building asset. She breaks down how lawyers can use their industry knowledge to generate income, build equity, and create long-term financial freedom through strategic acquisitions. Whether you're nearing retirement, starting out, or just looking for a different path, this episode will change how you view law firm ownership. Key Takeaways 1. Discover how law firms can...
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Do You Trust Yourself? A Conversation for Law Firm Buyers
Smart Lawyers Position to Transition
Before you sign the dotted line on a law firm acquisition, there’s one critical question you need to ask yourself—and it’s not about the numbers, the systems, or even the seller. In this candid and thought-provoking episode, Victoria Collier talks directly to law firm buyers about a make-or-break factor in every deal: self-trust. Whether you're eyeing your first acquisition or considering another, this episode challenges you to look inward before making a move. What does it really take to step into ownership confidently? How do you know if your hesitations are about the business—or...
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Status Quo or Scale: Clarifying Your Vision When Buying a Law Firm
Smart Lawyers Position to Transition
Before you buy a law firm, there's one critical question you need to answer: Are you buying to maintain the status quo, or are you buying to scale? That decision will shape everything—from the kind of firm you target to your day-to-day involvement, return on investment, and long-term strategy. In this episode, Victoria Collier digs into the mindset and math behind these two paths. Whether you're dreaming of passive income or building an empire, Victoria walks you through the clarity every buyer needs before making the leap. Plus, hear a behind-the-scenes look at Victoria’s personal...
info_outlineIn this podcast, Victoria Collier and her podcast producer, Jen Edds, discuss how lawyers can build law firm assets through podcasting. Victoria talks about her experience utilizing a podcast in her elder care law firm and emphasizes the importance of podcasting as a marketing and branding decision. She explains why having a quality podcast also allows you to educate people and screen potential clients.
Jen provides insights on building an asset within a firm through podcasting and offers tips for lawyers who want to be guests on other podcasts.
The discussion touches on repurposing podcast content for various media platforms and the potential for automation to enhance the law firm's predictability and sellable assets. Jen advises patience and persistence for those considering starting a podcast, emphasizing the long-term benefits.
About Victoria Collier
Victoria Collier, JD, CELA, CEPA, CVBA, is a highly accomplished professional who founded The Elder & Disability Law Firm of Victoria L. Collier, PC, in 2003, achieving consistent average gross revenue of $1.5M for five consecutive years before successfully selling the firm in 2020. Since 2008, Victoria has been a trusted consultant, providing valuable guidance to law firm owners on developing specific practice areas within their existing firms and enhancing overall firm value.
As a Certified Exit Planning Advisor and Certified Value Builder Advisor, Victoria specializes in advising law firm owners on strategic positioning and transitioning their firms, facilitating a smooth transition into life after law.
About Jen Edds
Jen Edds is the Head Broad in Charge at The Brassy Broadcasting Company. She’s on a mission to help purpose-driven industry experts and business owners make an impact by producing podcasts that put them in the ears, heads, and hearts of their audiences.
Connect with Jen
https://www.linkedin.com/in/jen-edds-470351b/
Key Takeaways:
Podcasting as a Law Firm Asset: The episode discusses how lawyers can leverage podcasting to build valuable assets for their law firms.
Podcasting for Branding and Education: Podcasting is a powerful tool for branding, allowing lawyers to position themselves as experts in their fields and provide the education their listeners seek.
Patience and Persistence: Starting and growing a podcast is highlighted as a long-term practice that requires patience and persistence.
Listen to the full episode for information on how a podcast can be an asset to your firm, grow your brand, and help you attract quality clients.
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Connect with Victoria Collier
Private Facebook Group
https://www.facebook.com/groups/1284225722042602
https://www.linkedin.com/company/victoria-collier-coaching/