Category: Elder Law, 1-Hour or Less Category: Elder Law, 1-Hour or Less (show less)

Becoming an Owner – Success Strategies for Buying or Starting a Law Firm 
Darren P. Wurz, MSFP, CFP, CEPA 

Are you ready to take the leap into law firm ownership? Whether you’re considering launching your own firm from the ground up or purchasing an existing practice, this session will equip you with the strategies and insights needed to make a successful transition from attorney to business owner. In this practical and engaging presentation, we will explore the critical decisions law firm owners must make, the challenges they will face, and the strategies to build a thriving, profitable practice. Attendees will gain the knowledge needed to confidently evaluate opportunities, avoid common pitfalls, and create a long-term vision for their firm. This session is perfect for attorneys thinking about law firm ownership, current solo practitioners ready to expand, or partners looking for an exit strategy that ensures continuity and success. 

Presentation Outline:

1. The Path to Ownership & The Mindset Shift 
   • What it means to be a business owner, not just a lawyer 
   • Overcoming the fears and challenges of ownership
   • Key skills for success as a law firm owner 
2. Starting a Law Firm – Crafting a Business Plan for Success 
   • The essential elements of a winning law firm business plan
   • Defining your niche, pricing structure, and financial strategy
   • Setting up operational systems for efficiency 
3. Buying a Firm – What to Look for and What’s a Fair Deal? 
   • Due diligence checklist: Clients, finances, brand reputation, and more
   • Understanding valuation and negotiation strategies
   • Transition planning: Retaining clients and staff post-purchase
4. Planning for Long-Term Success 
   • Scaling your firm for growth and profitability
   • Succession planning: Building an exit strategy from day one
   • Monetizing your law firm as an asset for your financial future