You Don't Need a Coach
Smart Lawyers Position to Transition
Coaching has become the reflex answer for every challenge in the business world, especially for law firm owners. But here is the truth many people never hear. Most firm owners do not need a coach. At least not yet. In this episode, Victoria Collier breaks down when coaching truly helps and when it becomes an expensive distraction. Victoria explains why vague goals lead to vague results, why clarity must come before coaching, and why comparison and fear push law firm owners into programs they are not ready for. She also outlines the specific scenarios where coaching delivers real value and...
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Ethics in Transition: Protecting Clients and Staying Compliant When Buying or Selling a Law Firm
Smart Lawyers Position to Transition
When it comes to selling or buying a law firm, numbers and contracts often steal the spotlight, but ethics are what make or break the deal. In this episode, host Victoria Collier goes into the ethical framework that governs law firm sales and explains how to navigate compliance without sacrificing client trust. From competence and confidentiality to client notifications and handling trust accounts, Victoria walks through the key ABA rules every lawyer must understand, especially Rule 1.17, and shares practical insights for keeping your transaction ethical, professional, and smooth from start...
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Profit or Illusion: Understanding Net Profit, EBITDA, and SDE When Selling Your Law Firm
Smart Lawyers Position to Transition
Think you know your firm’s profit? Think again. In this episode, host Victoria Collier breaks down one of the most misunderstood parts of selling a law firm: the true meaning of profit. Victoria explains the critical differences between Net Profit, EBITDA, and SDE—and how each number tells a very different story about your law firm’s financial health and value. Whether you’re still growing your practice or preparing to sell, understanding these metrics can mean the difference between a fair price and leaving hundreds of thousands on the table. You’ll learn • Why...
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The Smart Seller's Secret: Why Financing the Buyer Can Work in Your Favor
Smart Lawyers Position to Transition
Everyone wants that big check on closing day, but what if not getting it all upfront could actually work to your advantage? In this episode, host Victoria Collier breaks down why seller financing can be a smart, strategic move when selling your law firm. Learn how seller financing works, how to structure it safely, and why it can help you: * Maximize your firm’s value * Expand your pool of qualified buyers * Earn interest income while enjoying a smoother transition * Potentially lower your tax burden Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales...
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Is There a Season for Selling Your Law Firm?
Smart Lawyers Position to Transition
Is there really a “right time” to sell your law firm? In this episode of Smart Lawyers Position to Transition, Victoria Collier breaks down how timing affects sellers and buyers differently—and what both sides should be doing before the year ends. Victoria shares why sellers shouldn’t wait for a “perfect” season, and how buyers often use Q4 to plan and position themselves for a strong start in Q1. From financial prep to strategic timing, this episode is packed with practical advice to help you take action now. You’ll learn: • Why the best time to sell is when...
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After the Ink Dries: The Little Things That Make or Break a Smooth Law Firm Transition
Smart Lawyers Position to Transition
You’ve signed the papers, the wire hit your account, and you’re ready to celebrate, but your work isn’t done yet. In this episode, Victoria Collier uncovers the often forgotten post-sale details that can create real problems if they are ignored. From websites that go dark to phones that stop ringing and trust accounts that are not properly transferred, these “little things” can quickly turn a smooth sale into a stressful mess. Victoria shares real examples from law firm transitions to help you avoid costly mistakes and protect your firm’s reputation, clients, and cash flow. In this...
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Form 8594 Explained: Avoiding IRS Headaches When Selling Your Law Firm
Smart Lawyers Position to Transition
IRS Form 8594 might sound like dry paperwork, but it’s one of the most important documents in a law firm sale. In this episode, our host Victoria Collier breaks down what the form is, why it matters, and how to avoid post-sale IRS problems. From understanding asset classes to negotiating allocations that minimize taxes, this conversation shows how smart preparation can save both buyers and sellers from stress (and money) down the road. Key Topics Covered • What IRS Form 8594 is and why both parties must file it • Why the buyer’s and seller’s forms must match...
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More Than Money: How to Choose the Right Buyer When You Have Multiple Offers
Smart Lawyers Position to Transition
Every law firm owner dreams of multiple offers when it’s time to sell. But what happens when you’re the one holding the cards and now have to choose? In this episode, host Victoria Collier unpacks how to compare offers beyond just the purchase price. You’ll learn: • Why deal structure matters as much as the dollar figure • How to evaluate cash up front versus performance-based payments • The role of transition periods and whether you’ll be compensated fairly for your time • And much more! Victoria Collier is a seasoned...
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What’s It Really Worth to You?: Beyond the Price Tag of Selling Your Law Firm
Smart Lawyers Position to Transition
When it comes to selling your law firm, the question isn’t just what’s my firm worth? It is what’s it worth to me? In this episode, Victoria explores the intangibles behind a sale. The purchase price may grab attention, but for most sellers, factors like time, health, stress, and what comes next in life carry equal or greater weight. What You’ll Learn in This Episode: • Why the “highest offer” isn’t always the best offer • How time commitments in a deal can make or break it • Why health can outweigh every other factor in your decision...
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The Lifecycle of a Law Firm: From Start-Up to Plateau
Smart Lawyers Position to Transition
Every law firm goes through distinct stages: from the hustle of startup, through the rapid growth of scaling, to the challenges of repelling, and finally the stability of plateau. In this episode, host Victoria Collier breaks down what each stage looks like, how income changes along the way, and when it makes the most sense to sell. Whether you’re just starting out, feeling the stress cracks of growth, or enjoying a period of stability, knowing where you are in the cycle is key to making smart business and exit decisions. What you’ll learn in this episode: • The four...
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/