Paul Floyd explains why it doesn’t really make sense to try to come up with a value for most law firms, and what makes some more valuable than others.
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Stephanie Everett leads the Lawyerist community and Lawyerist Lab. She is the co-author of Lawyerist’s new book...
Zack Glaser is the Lawyerist Legal Tech Advisor. He’s an attorney, technologist, and blogger.
Jennifer Whigham is the Community Director at Lawyerist.
| Published: | January 13, 2015 |
| Podcast: | Lawyerist Podcast |
| Category: | Practice Management |
Today’s guest is Paul Floyd, a business lawyer for lawyers — and a very successful one. Paul may not have an edgy website, but he is a good lawyer who gives good advice, which means he has an enviable law practice without all the virtual offices, alternatives billing arrangements and iPads actually I can’t remember the last time I saw Paul without his iPad.
Among other things, Paul helps lawyers sell their practices, and I wanted to talk to Paul about valuing a practice because I felt like I never got a straight answer when I have asked how to do it. Paul finally explained it so I could understand: the best way to value a law practice is not to value it. That sounds mysterious, but it’s not. Paul explains why it doesn’t really make sense to try to come up with a value for most law firms, and what makes some more valuable than others.
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Lawyerist Podcast |
The Lawyerist Podcast is a weekly show about lawyering and law practice hosted by Stephanie Everett.
