Why the Mid-2020s Present the Right Time for Senior Attorneys to Sell Their Law Firms

In Ep. 56, Senior Attorney Match’s Jeremy E. Poock, Esq. explains why the mid-2020s present the right time for Senior Attorneys to sell their law firms.

 

As Poock states, “[F]or Senior Attorneys that are considering selling their law firms, we need to recognize that post-2020 clients are searching online for lawyers to hire. As a result, if you're not investing in Multi-Channel Digital Marketing with a significant investment in Google for clients to find you when they're searching Google . . . you're just not going to generate as many clients as you did in yester-year. . . And, as your Book of Business does not replenish as much as yester-year, your Book of Business is going to become less valuable to a Growing Law Firm if you're not presenting as many clients as you could when your Book of Business is as filled with clients and referral sources as it is now in the mid-2020s, as compared to later in this decade and into the 2030s.”

 

Poock also distinguishes between today’s digital marketing disruption to business development in the legal industry to the following 3 digital disruptions outside of law: (1) Uber to taxis; (2) Netflix to Blockbuster; and (3) Amazon to Sears.

 

Unlike Uber that did not need taxi cars or taxi medallions, Netflix that made VHS cassettes and DVDs obsolete, and Amazon, which proved that consumers can conveniently shop for everything and anything online rather than visiting a big box store, today’s Growing Law Firms still need the following from Senior Attorney-led firms:

 

(a) Their well-established Books of Business because Growing Law Firms always need new clients;

 

(b) Their experienced workforce (lawyers, paralegals, and legal assistants) to do the sophisticated work that law firms produce on behalf of their clients; and

 

(c) The treasure chests of digital content that attorneys at Senior Attorney-led firms offer by converting their decades of subject matter knowledge into posts for Multi-Channel Digital Marketing to attract the online attention of today’s would-be clients who search Google and social media for lawyers and law firms to retain, as compared to the pre-Google Word of Mouth Era.

 

Poock also explains that today’s 3.0 Digital Era for the legal industry coincides with the Age of the Vanishing Rainmaker.

 

“We want to make it very clear to Senior Attorneys, in particular, who may not be adopting Multi-Channel Digital Marketing, that you are on notice that the Age of the Vanishing Rainmaker has begun, and that the writing is on the wall that you are not going to develop as many new clients as you did in yester-year.”