Q.2 from Ep. 26 of the Ask the Law Firm Seller Show: Why do Growing Law Firms want to purchase Senior Attorney-led Law Firms?

During Ep. 26 of the Ask the Law Firm Seller Show, Jeremy E. Poock, Esq. addresses the following question:

Why do Growing Law Firms want to purchase Senior Attorney-led Law Firms?

Poock answers this question by explaining the following 4 upgrades that Senior Attorney-led Law Firms present to Growing Law Firms:

 

Upgrade 1: Instant upgrade to a Growing Law Firm’s Book of Business by acquiring the Book of Business that a Senior Attorney-led firm has developed over the course of a career.

 

Upgrade 2: Upgrade to a Growing Law Firm’s workforce by welcoming experienced and talented key employee lawyers and para-staff as part of growth by acquisition.

 

Upgrade 3: An upgrade to subject matter knowledge depth in multiple practice areas that Senior Attorneys and their key employee lawyers bring to a Growing Law Firm.

 

As Poock explains, “[B]y bringing in Senior Attorney lawyers and the lawyers that practice at their firms, they have often decades of subject matter knowledge that is going to make your [growing] practice more valuable by offering even more talent to your current clients and prospective clients.”

 

Upgrade 4: A Digital Value Upgrade, which includes the following (i) Adding bios of Senior Attorneys and additional lawyers to a Growing Law Firm’s website; (ii) Adding pre-existing 5-Star Google Reviews and requesting new 5-Star Google Reviews from satisfied clients among a Senior Attorney-led Firm’s Book of Business; and (iii) Convert Subject Matter Knowledge into digital content for a Growing Law Firm to post to multiple channels of social media (egs. LinkedIn, Facebook, and Instagram), plus e-newsletters, podcasts, YouTube videos, and more to attract the digital attention of prospective clients in today’s 3.0 Digital Era for the legal industry.