Sep 14, 2021
When should you start thinking about your law firm exit strategy? Tom Hannon, a serial entrepreneur, shares his insight and experience from selling multiple businesses.
Eighty percent of businesses never sell because the entrepreneur, or the person who started the business, is not thinking about the buyer. Start thinking about selling your business when you start it. If you haven't already started thinking about your exit strategy, now is the time to start planning and preparing.
The mistake that most entrepreneurs make is that they aren’t prepared to sell their businesses.
This conversation with Tom Hannon will help you get into the mindset to prepare to sell your law practice. Learn where to focus your energy to begin creating a business that you can sell when an opportunity comes up, or in the event that you have unexpected life-changing circumstances.
What You Will Learn in This Episode
- What makes your law firm attractive to potential buyers
- How to start planting seeds for your exit
- How to build a business that you can sell
- How to use your competition for planning your exit strategy
- Where to find information on how to value your law firm
- Why you need systems in place in your law practice
Links and Resources Mentioned
Connect with Tom Hannon on LinkedIn
https://www.linkedin.com/in/thomasphannonjr/
Seven Habits of Highly Effective People by Stephen Covey
https://actecfoundation.org/podcasts/how-to-sell-a-law-practice/
Names mentioned as additional resources:
James Cotterman, John Olmstead, Ed Paul, Roy Ginsburg, and Tom Lefneski
Sandler Sales Training
Connect with Molly