#23 Getting Deals Done - Guest: Linsey Cohen, Managing Partner, Gould & Ratner

Special guest Linsey Cohen, a managing partner at Chicago-based law firm Golden Ratner, provides expert insights based on her 25 years of deal-making experience. The hosts, Brian Balduf, Brad Balduf, and Matt Croke, discuss Linsey's journey into law, her specialization in transactional real estate, and her approach to client relationships. The conversation highlights common misconceptions about attorneys, the importance of legal counsel for entrepreneurs as their businesses grow, and the value of a lawyer understanding a client's business. Linsey emphasizes her role as a dealmaker, not a deal-breaker, and the firm's commitment to building trust and providing comprehensive services to early-stage to middle-market companies across various legal areas.

 

I. Linsey Cohen: A Distinguished Legal Professional

Linsey Cohen is a highly experienced and bright managing partner at Gould & Ratner, a Chicago-based law firm. With "more than 25 years of dealmaking experience," her clientele includes "national brands, investors, developers with interest throughout the US," who depend on her ability to "navigate complex transactions with confidence."

 

A. Early Career and Path to Real Estate Law

• Early Aspirations: 

• Blank Slate Approach: 

• Unique Starting Point: 

B. The Value of Mentorship

Cohen credits her early mentors with instilling crucial qualities that she now exhibits as a mentor herself: "patience, open-mindedness, empathy." She appreciated their willingness to answer her frequent questions, recognizing her lack of experience. This highlights the importance of supportive guidance for new professionals.

 

II. The Attorney-Entrepreneur Relationship: A Partnership for Success

 A central theme of the discussion is the dynamic and often misunderstood relationship between attorneys and entrepreneurs.

A. Attorneys as Dealmakers, Not Deal Breakers

• Beyond "Cannot Do": 

• Facilitating Deals: 

• Understanding Business Context: 

B. Timing of Legal Engagement for Entrepreneurs

• Early Consultation is Key: 

• Importance of Written Agreements: 

• When to Seek Professional Legal Help:

C. Addressing Entrepreneurial Mindsets

• Balancing Optimism with Reality:

• The "Worst Thing That Could Happen": 

• Trust and Reliability:

III. Misconceptions and Realities of Legal Practice

 

A. Billing and Deal Expediency

• Dispelling "Churn": 

• Valuing Relationships Over Billable Minutes: 

• Intellectual Product: 

B. Specialization and Constant Adaptation

• Ongoing Legal Changes: 

• Every Deal is Unique: 

• Legal Expertise Beyond the Obvious: 

IV. Golden Ratner: A Full-Service Partner for Growth

 

A. Comprehensive Services and Client Profile

• Full-Service Offering: 

• Client Focus: 

• Network for Niche Needs: 

B. Client Engagement and Firm Structure

• Understanding the Business: 

• Direct Engagement with Decision Makers: 

• Size and Reach: 

• Reaching Out: 

V. Concluding Thoughts

The podcast emphasizes that a strong attorney-client relationship is built on trust, clear communication, and a shared understanding of business goals and risks. Linsey Cohen's insights highlight the evolving role of legal counsel from mere "deal breakers" to strategic "dealmakers," indispensable partners for entrepreneurs navigating the complexities of starting, growing, and operating a business.