Q.1 from Ep. 25 of the Ask the Law Firm Seller Show: Why should Growing Law Firms pursue growth by acquisition?

During Ep. 25 of the Ask the Law Firm Seller Show, Jeremy E. Poock, Esq. addresses the following question:

Why should Growing Law Firms pursue growth by acquisition?

As Poock explains, Growing Law Firms share the following 3 needs when it comes to their interest to boost the growth of their firms.

 

(1) They need new clients.

 

(2) They need an experienced workforce, including talented lawyers and support staff.

 

(3) During today’s 3.0 Digital Era for the legal industry, they need digital content to attract the attention of today's and tomorrow's clients, who continue to look online for lawyers and law firms to hire.

 

Growing Law Firms should pursue growth by acquisition because doing so fulfills their 3 needs, as follows:

 

(1) Senior Attorney-led firms have developed Books of Business literally over decades, which present instant client growth to an acquiring law firm.

 

(2) Senior Attorney-led firms typically have key employee lawyers and para-staff who want and need the following that Growing Law Firms can offer: A Reliable, Safe & Predictable Job.

 

(3) Senior Attorneys and their talented lawyer staff present treasure chests of subject matter knowledge that Growing Law Firms can convert to digital content to publish to multiple channels of digital marketing (egs. LinkedIn & Facebook posts, podcasts, YouTube videos, a monthly e-newsletter, Instagram reels, and more).

 

Poock also points out that the long-time, satisfied clients of a Senior Attorney-led firm present opportunities to request 100s of 5-Star Google Reviews, which today’s new clients continue relying upon as they consider retaining a lawyer or law firm.

 

In summary, Poock explains the following:

 

“[I]f you are running a firm and you're thinking about how to grow, what do you need? You need new clients. You need an experienced workforce, and you need digital content to attract the attention of today's and tomorrow's clients who are looking digitally . . . before they are making a call or sending in a contact form or a text to a law firm that they want to hire.

 

Senior Attorney-led firms check all of those boxes by offering them the Book of Business that Senior Attorneys have developed over the course of their careers. They have lawyers and the Senior Attorneys themselves . . . plus para-staff.  And, they offer literally treasure chests of digital content to Growing Law Firms.”