Mark Powers and Shawn
McNalis led our discussion on exiting your law practice.
A question on the minds
of many attorneys these days is this: "How do I exit or transition
out of my practice -- when I'm ready -- and get a return on my
investment?"
It's a good question. Many of you have spent years building your firm and
still contemplate an uncertain future. What exit strategies can you adopt now
to ensure that you'll reap the benefits of all the time, energy and work you've
invested in the past?
Our panelists included three Practice Advisors: Cammie Hauser, Jan Copley, and
Steve Riley , each with a unique perspective on succession planning.
Cammie is a CPA who has worked a number of law firms through these issues, Jan
and Steve have both built and sold law firms.
On this call we discussed:
The
value, if it exists, that shareholders should expect out of their firm
The
best timeline to begin planning plus the typical stages in a transition
Examples
of roles partners take on after the transition
The
nine characteristics of associates who develop into transition partners
