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

GLF Podcast

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

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