Crafting a Sellable and Profitable Law Firm with Tom Lenfestey, the CEO of Law Practice Exchange

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Join Sasha Berson as he speaks with Tom Lenfestey, the CEO of Law Practice Exchange

👉 Sasha and Tom explore:

— The unique challenges lawyers face in succession planning and business practices

— The importance of building systems within a law firm to enhance value

— Transition-based sales and their role in ensuring smooth handovers

— Different scenarios for valuing a law firm and factors that affect valuation

— The emotional and practical aspects of selling a law firm

— The complexities and challenges of partnerships in law firms

— Strategies for lawyers to invest in systems and processes to create lasting value

👉 Main takeaways from the episode:

— Ensuring a smooth handover by having the selling attorney remain involved post-sale can mitigate value loss and ensure client and referral source retention.

— Investing in robust systems within a law firm can significantly enhance its market value, making it more attractive and easier to transition during a sale.

— Form partnerships only when there is a clear complementary skill set and strong, long-term relationships.

📰 About Tom Lenfestey:

Tom Lenfestey is an attorney and CPA who founded the Law Practice Exchange, a marketplace for buying and selling law firms. With a background in assisting dentists and CPAs in selling their practices, Tom identified the need for a similar platform for lawyers. His work focuses on helping attorneys realize the value of their practices, providing structured exit strategies, and facilitating smooth transitions.

📞 Connect with Tom Lenfestey:

• Website: https://thelawpracticeexchange.com/

• LinkedIn: https://www.linkedin.com/in/tomlenfestey/

• Facebook: https://www.facebook.com/lawpracticeexchange/

• Twitter: https://twitter.com/LawPracticeExch

📞Connect with Sasha Berson:

• LinkedIn: https://www.linkedin.com/company/grow-law-firm/

• Instagram: https://www.instagram.com/grow_lawfirm/

• YouTube:https://www.youtube.com/@growlawfirm

• Facebook: https://www.facebook.com/growlawfirm

• Email: [e-mail]

• Phone: [phone]

#LawyerWebsite #LawyerSEO #LawFirmMarketing

If you enjoyed today’s show, please leave a review and subscribe so you never miss an episode. For more information and links to all of the resources mentioned in today’s episode, visit https://growlawfirm.com/