Whether you are looking at retiring and selling your law practice or purchasing one, you first need to have it valuated by a professional, says Ron Seigneur, a former legal administrator and partner in Seigneur Gustafson Certified Public Accountants in Lakewood, CO. Seigneur says there are three types of potential buyers for a law practice: Entrepreneurial buyers often … [Read more...] about What is your law practice worth to sell?
strategic planning
Do compensation plans drive succession planning results?
By Brenda A. Barnes bio Compensation—or lack thereof—drives many, if not most, succession plans. The most obvious reason for a succession plan is to compensate principals fairly for the firm they've built with their entrepreneurial spirit, including the physical assets and intellectual property they own, and for the money they've invested in their businesses. How to … [Read more...] about Do compensation plans drive succession planning results?
Summertime tips for small firms: How to plan for a stress-free year end
By Brenda Barnes bio For many small business owners, summertime is often a slower time of year and a good time to take a look at your business. Even with half of the year gone, many business owners wait until year-end, or after the holidays, to assess their business needs. Taking the time now to review and adjust can help you make the most of the remainder of the year and … [Read more...] about Summertime tips for small firms: How to plan for a stress-free year end
Emotional retention: New strategies to retain top talent
By Brenda Barnes bio Great businesses are built with great people. In today's competitive employment market, it's hard enough to recruit those great people, but the real challenge is getting them to stay. Traditional retention strategies haven't worked so it's time to take a fresh look at how to keep the best people you have. Benefits vs. retention We often confuse … [Read more...] about Emotional retention: New strategies to retain top talent