Marketing Lab

By Katherine A. Puffer, CPA/ABV, CPCU, MBA

Even if you’re not in the market to sell your law firm, there are several reasons to value your firm such as a possible firm merger, securing loan financing, the addition of new partners, and other business and personal matters such as your succession/exit strategy. It is not only important to know the value of your firm, but also the process analysts take to come to an estimated value. Several valuation approaches are used, and depending on your firm’s circumstances, valuation analysts may use a combination of the income, asset, and market approaches to estimate the value of the firm. 

The Valuation Process: 

To begin, the asset approach presumes that the value of the firm is best determined by the sum of the value of all the firm’s tangible assets subtracted by the liabilities, leaving the net value of its tangible assets (“net tangible assets”). Many firms maintain financial records using cash-based accounting, thus for valuation purposes, their cash-based financials are adjusted to accrual-based financials. For example, accounts receivable, work-in-progress and accounts payable are added to the cash basis balance sheet to arrive at an accrual basis balance sheet. The next step in an asset-based valuation is to adjust the accounting asset values to their market value. For example, fixed assets such as computer equipment are adjusted to their estimated market value (likely close to zero). Asset-based valuations generally do not contain “goodwill” which is the value of a firm over and above the value of its net tangible assets. As a result, the asset approach is generally used to estimate value of real estate entities, holding companies and unprofitable firms. For profitable firms, it provides a minimum value for analysts to consider. 

The income approach values a firm based on cash that can be distributed to partners (“free cash flow”, “cash flow”). Free cash flow is not net income and for growing companies it is generally less than net income. Free cash flow takes into consideration the amount of income that must be held in the firm to fund accounts receivable, work-in-progress, purchases of equipment and other capital needs. For S corporations and LLC’s, distributions to owners to pay taxes are also deducted from net income to arrive at free cash flow. There are a number of methodologies that the valuation analyst can use under the income approach. The methodology chosen depends on whether future free cash flow is expected to grow steadily, vary from year to year or can be estimated based on prior year’s results. After future free cash flow is estimated or forecasted, it is discounted back to the valuation date based on the valuation analyst’s assessment of the risk of achieving future cash flows. For example, a lack of a firm succession plan adds to the risk of achieving future cash flows, increases the discount rate and results in decreased estimated value. Conversely, the existence of a repeating income stream generally reduces risk and the discount rate, resulting in increased estimated value. The final step in the income approach is to subtract firm debt. The income approach arguably provides the most theoretically accurate estimated value for a firm as it is based on the actual firm characteristics and results. ² 

However, the accuracy of this approach is dependent on estimates of future free cash flow and the discount rate. 

Finally, the market approach involves researching the sales of other law firms and utilizing information on the sale of firms with operating and financial characteristics similar to the subject firm to arrive at an estimated value. At a minimum, seven to ten comparable sales are needed to utilize this approach. Information provided on the sale of law practices and the nature of the practices involved is sometimes too incomplete to provide a basis for calculating a value indication. 

Other Considerations: 

Many law practices have buy-sell agreements in place to avoid fighting over value in the event that a buy-out must occur. Many of these agreements contain formulas that have nothing to do with the economic reality of the situation. This frequently causes fights among the owners. In certain jurisdictions, these types of agreements will not be considered indicative of value for a marital dissolution case. 

In a law practice, there tends to be much more dependence on the professional than in other types of businesses. During the valuation process, the attributes of the professional(s) must be considered. Unusual skills, long work hours, a large referral base, and other similar factors will certainly affect the valuation, whether it ends up as a part of reasonable compensation or built into the discount or capitalization rate. 

Probably one of the most difficult assets to value on the balance sheet of a law practice is work in progress. Unless the firm keeps really good records, this can be pretty tricky. This is particularly true for a contingent fee law firm.¹ 

When a professional practice is being valued for transaction or litigation purposes, it may be important to identify professional and practice goodwill separately and to discuss the likelihood that a portion of the professional goodwill can be transferred in a transaction. 

Consistently high earnings do not necessarily indicate a high practice value for a number of reasons. If earnings are highly volatile, as they can be for a law firm with large contingent-fee cases, value tends to be lower based on the risk of achieving future estimated cash flows. A professional with an outstanding reputation may attract many referrals, but the resulting high earnings in the practice reflect professional goodwill, not practice goodwill. A professional may work much longer than normal hours, but the resulting high earnings may not increase the value of the practice.² 

While, rules of thumb (formulaic: expressed in multiples of revenue or earnings) may provide insight on the value of a professional practice, it is usually only appropriate to use them for reasonableness tests of other valuation approaches. 

 

¹ Understanding Business Valuation, Fourth Edition, Gary R. Trugman, Copyright 2012
² Financial Valuation, Second Edition, James R. Hitcher, Copyright 2006

Thank you to everybody who came out to Amata’s return to in-person networking with Amata Socials! Our next get together is June 9th and will be held at 180 N LaSalle.

We are also excited to extend an opportunity – now you’ll be able to sponsor an Amata Social!

Sponsor an Amata Social

Each month we are providing up to two firms the opportunity to sponsor the social. Amata will continue to pay for food and beverages at these socials and the sponsors will be responsible for getting the word out and making sure they are well attended. In return for sponsoring, Amata will promote the sponsors firm in weekly posts, publications and announcements leading up to the social.

Up to 2 Law Firms will have the opportunity to sponsor each Amata social.

• The sponsoring law firms will be responsible for attendance at the event. This will include sending out invitations and making sure each event is well attended (25+ participants at each event is the goal).
• Amata will also promote each event through email distributions to all Amata clients, that will include the logo/name of the sponsoring law firm and signs at every Amata location.
• Members of the sponsoring firm will greet guests upon their arrival and direct them as appropriate.
• The sponsoring firm(s) will provide an overview of their firm and the type of work they are able to handle at the beginning of each social.

Amata’s Obligation

• Amata will provide beverages (both alcohol and non-alcohol) and lite snacks at each social.
• The sponsoring firms will be featured in Amata’s weekly watercooler email and featured on the flyers distributed at each Amata location.
  Amata will provide a list of all registered participants to the sponsoring firms to allow for follow up.
  Guidelines

Additional Considerations

• Sponsorship will be on a first come, first serve basis by contacting [email protected]
• Firms with the same practice areas will not be allowed to sponsor the same event.
• Attendance by the sponsoring firms is mandatory.

Are you interested in sponsoring an Amata Social?

Reach out to [email protected] today! Each social has two spots and they will be filled on a first come first serve basis.

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Small businesses are resilient, and resilience is especially important in challenging times such as these. This type of strength and agility relies, in part, on good business instincts. But it also depends on a clear understanding of the measures that may impact results.

Know The Context

It’s important to consider data in the context of what your business does and where it is located. For example, the unemployment rate for a business located in an area that is experiencing a lot of growth means something different from what it does for an area that is experiencing a reduction in its population. Places with growth will have more people spending more money on a variety of goods and services. Areas that are stagnant are likely losing businesses as people are spending less and less.

The same is true for other data. Supply chain disruptions will be harder to deal with for small businesses than they will be for large companies because bigger businesses have the resources to pay for faster deliveries. Some business and service providers can get a snapshot of what is happening by looking at information specific to their industries.

Keep in mind that statistics have a subtext that may not be easily apparent. For example, are multisite businesses reporting their data for each location, or is it all on an aggregate basis? Questions like these are why it is important to put this information into a context that is meaningful to your business.

One way to do this is to think about the information in the framework of a SWOT analysis — strengths, weaknesses, opportunities, and threats — for your service or industry. Then look at the analysis again through the filter of what is happening in your specific market. Doing so will allow you to have a clearer picture of your needs and where resources should be allocated.

Consider Inflation

Along with the other financial concerns that small businesses are facing, inflation has become a major factor. Predictions differ when it comes to how long the current inflationary cycle will last. Consequently, business owners need to assess how they will be affected by the higher cost of money in both the short term and the long run.

Taking these three steps can help:

1. Budgeting: Cut costs — but in a thoughtful way. This should be your strategy when making any major purchases, from software to a new hire or anything in between. Understand what you really need as well as the costs of any bells and whistles. Maybe it is best to start with the basics now and then add on to your list of purchases as needed when your budget allows for it. For example, does it make more sense for your business to hire a freelancer who can maintain your company’s social media platforms, or is a full-time employee what you need instead? Writing out a job description and then comparing the costs of hiring each type of person should help you figure out the answer.
2. Margins: Take a long, hard look at your margins. How much is every sale costing you? Is there a way to use new manufacturing methods or sales channels so that you can increase your margins?
3. Financing: If you need help with financing, turn to government sources first. Low-cost funding may be available, for example, if your business is located in an economic development zone.

Putting the information that you gather into a meaningful context and following through on that consensus will help ensure that you are keeping a perspective that makes sense for your small business.

We’re here to help

At Amata, we value your work as much as you do. Discover how we can be a part of the future of your resilience.

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From client meetings and long work days to demanding deadlines and tense relationships with opposing counsel, it’s a well-known fact that practicing law isn’t for the faint of heart. About a decade ago, Chicago civil defense attorney Daniel Arnett was ready to leave the legal industry and become a bartender due to his “insane” stress.

According to The American Lawyer’s 2020 Midlevel Associates Survey, nearly 50% of midlevel associates have anxiety. Three in four associates also said their firms negatively affect their mental health.  

“Sole practitioners get so overwhelmed from all of the built-up pressure, and they have nowhere to go with it,” said family law attorney David Kirsh.

While larger firms may have multiple partners for support, Kirsh said that doesn’t eliminate the pressure of clients regularly turning to their attorneys for important answers.

In addition to daily stress, the COVID-19 pandemic hit and added more anxiety. Courts closed, attorneys had to work from home and depositions were given virtually.

“There’s a whole new level of stress with technology,” said insurance defense attorney Margaret Bentley of Kelley Kronenberg. She explained that it’s now harder to determine the credibility of a witness without the ability to analyze in-person body language.

And all of this built-up pressure could ultimately impact client relationships. 

“You cannot make good decisions and serve your clients if you’re fighting internally and taking things personally,” Arnett said.

Attorneys Seeking Tools to Manage Good Mental Health

Fortunately, resources are available for lawyers and staff struggling with mental health. Kirsh volunteers his time with the Lawyers’ Assistance Program to help lawyers and law students with substance abuse, addiction and mental health issues.

Before abandoning his legal career, Arnett sought help from coaches, seminars and books and ultimately followed his dream of opening his own law firm, Arnett Law Group, LLC. The firm has since grown to seven attorneys, and Arnett places mental health at the forefront of his efforts. He invited his team members to help revise the firm’s billing process, allowed them to work on a flexible schedule and checked on them throughout the pandemic via daily Zoom meetings. He even created a “Zen Den” at the office, a special forest-themed room where his attorneys can recharge.

“The culture here is unlike any other firm that I know of,” Arnett said.

While Bentley has learned tricks to minimize her daily anxiety, such as taking breaks throughout the day and staying prioritized, she’s grateful for the resources that Kelley Kronenberg offers its attorneys. Like Arnett, Bentley’s unit leader holds weekly Zoom meetings and stays in touch with the Chicago team throughout the day, as the firm’s headquarters is based in Florida.

Attorney Mental Health Starts in the Office

Bentley said another stress-reliever is Amata Law Office Suites, Chicago’s first legal community of more than 700 attorneys and Class-A downtown offices. She has been managing Kelley Kronenberg’s Chicago office at Amata since last year. Kirsh operates his firm here as well.

When the pandemic hit, Amata scanned lawyers’ mail for 90 days and handled document preparations (free-of-charge) to help reduce attorneys’ stress of managing their practices during a worldwide health crisis. With the help of Amata, Bentley and her team members were able to continue serving the needs of their clients without interruption or delay. She said she has been very happy with the services.

Don’t let long work days and demanding deadlines run you and your practice. Call us or visit our website and take an online or in-person tour of one of our Class-A law firm office spaces. Consider joining the Amata community to learn how our business model is perfectly aligned to combat lawyers’ stress. We run the office while you run the practice.

Discover our legal support staff for lawyers in Chicago.

What People Aren’t Addressing About Diversity in Law Firms

The statistics are harsh. According to the ABA National Lawyer Population Survey, lawyers of color represented just 14% of all lawyers in 2020. And that percentage has grown less than 3% over the past decade. 

While the legal industry has further emphasized diversity and inclusion, it’s still branded as one of the least diverse professions. Specifically, only 5% of lawyers are Black; 5% are Hispanic; 2% are Asian; and 0.4% are Native American. 

“It makes me recognize that there’s a lot of work to be done,” said Leslie Davis, CEO of the National Association of Minority & Women Owned Law Firms (NAMWOLF).

The industry may need an overhaul when it comes to diversity, but resources are available. Founded in 2001, NAMWOLF works to promote diversity within the legal profession by advancing successful relationships among its roughly 200 member firms. In 2010, NAMWOLF launched the Inclusion Initiative, an effort that aims to increase corporations’ retention of minority- and women-owned law firms. By 2014, 30 corporations were involved in the initiative and spent $212 million with diverse firms.

Davis joined the NAMWOLF community earlier this month after spending more than 25 years as a lawyer and litigator in the Chicago area. In 2014, she was honored at the Chicago POW! Awards for showing “game-changing leadership in business and their communities.” Davis represented the 5% of Black U.S. lawyers as well as another bleak statistic. As a partner, she represented one of the less than 2% of Black partners in Big Law.

“It wasn’t easy, but I was fortunate and blessed to have great mentors, sponsors and people who cared about my trajectory,” Davis said.

Some attorneys have cited a lack of mentorship and cultural isolation as reasons why they left their firms. Davis said she always tried to make herself available to lawyers of color, acknowledging that she was often one of few Black women in her positions who could provide the insight and guidance that fellow Black lawyers needed.

Why Promoting Diversity in Law Firms Matters

For entertainment law attorney Odell Mitchell III of Thirdinline Legal LLC, incorporating diverse voices into law firms is very important. During his time as a solo practitioner, he said clients have expressed comfort in working with him, and some have admitted that he’s the first young, Black lawyer to whom they have spoken.

“The level of representation that I get to provide directly for people, especially young Black men, is something I don’t take lightly,” Mitchell III said. “People appreciate me being who I am.”

Family law and criminal defense attorney Chelsey Robinson of Owens & Robinson can also speak firsthand on the importance of representation. 

“I have had situations where opposing counsel referred to me as ‘sweetie’ or ‘honey,’” she said. “I find that very degrading. It shows that we need more diversity training. Because a lot of times, we’re not aware of biases.”

While training is important, Circuit Court of Cook County Judge Erika Orr thinks the answer is simpler than implementing various initiatives.

“The only way you get diversity and inclusion is to have a diverse and inclusive workplace,” she said. “The key is to recruit from everywhere, not just from select schools.”

Before becoming an Illinois judge, Orr operated her own firm from Amata Law Office Suites, Chicago’s first legal community of more than 700 attorneys and six Class-A downtown offices. Mitchell III and Robinson call Amata home as well. 

Amata’s Commitment to Diversity and Inclusion

Amata offers premier legal support, including live receptionists and an experienced paralegal team. Orr, Mitchell III and Robinson commend Amata for filling these roles with diverse individuals and for highlighting diverse voices through its various communication channels. Amata’s CEO, Ron Bockstahler, also sits on the board of directors of the Justice Renewal Initiative, a program geared toward helping young men and women transition out of the criminal justice system.

“When you have groups like Amata, who interact with lawyers and law firms on a daily basis and see the need for change, … it’s impactful when they decide to get in the fight and make a difference too,” Davis said.

During her time as NAMWOLF CEO, Davis wants to see the statistics improve. She hopes to provide more opportunities for minority- and women-owned law firms to work with corporations as well as public and private companies.

“It’s a great responsibility and honor to be doing work on a daily basis that’s been so important and meaningful to me throughout my whole career.”

At Amata, we know there’s more work to be done to empower lawyers of color. Call us or visit our website and take an online or in-person tour of one of our six Class-A law firm office spaces and consider joining the Amata community to learn how we can help. Or keep the conversation going by contacting us at [email protected].

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GIVE A GIFT TO A KID IN NEED: https://www.amata.theangelgivingtree.org/

Discover our networking events for Chicago lawyers.

Whether you’re a partner or an associate in a law firm, the Internal Revenue Service has rules that apply specifically to you as well as several opportunities. Following is a list of tax provisions that affect attorneys in particular.

Tax Benefits for Partners in a Law Firm

Home office deduction

The home office deduction may be available to practitioners who run their business out of their home. This deduction is not as straightforward as it may sound: the space must be dedicated to running the practice. In addition, the deduction is based on the square footage of the dedicated space, not the total square footage. Once the square footage is calculated, a proportional share of expenses, including mortgage interest, real estate taxes and utilities, may be deducted. The deduction does come with a cap.

Unreimbursed expenses

Law firm partners may be able to use Schedule E to deduct business expenses that were not reimbursed by the firm. This is a valuable deduction because it reduces both taxable income and the self-employment tax.

Capital account loans

Interest paid on capital account loans also are deducible on Schedule E.

State taxes

State taxes are tricky. The total allowable deduction for all state and local taxes is limited. As long as the amount isn’t exceeded, you may be able to deduct any state taxes the firm pays on your behalf on Schedule A of your personal return. Ensure that you are filing in all relevant tax jurisdictions and document your filings and consider filing composite state returns.

Self-employed health insurance

If your firm shows a profit for the year, medical, dental and long-term care insurance costs may be an above-the-line deduction. This deduction is worth more than an itemized deduction.

Retirement savings

Take advantage of tax saving offered by your firm’s retirement plan. Deferring income can result in substantial tax savings.

Tax Considerations for Associates

Associates are salaried employees at their firms who have federal and state income tax taken out of their paychecks and whose income is reported on Form W-2. Consequently, they have fewer options for deductions. They cannot take itemized deductions unless they exceed the standard deduction amounts.

While more restricted in their options, associates may benefit from the following:

Unreimbursed business expenses

These expenses can no longer be deducted as a line item, but associates can ask their firms to implement an accountable reimbursement plan. Such a plan would allow associates to be reimbursed without having to report the reimbursements as income, and the partners would be able to deduct the amounts on their Schedule E.

Income deferral

Deferring income by maximizing use of the firm’s retirement plan may reduce taxable income.

Student loans

If your firm has a student loan payment program, the amount they pay may not be taxable if certain parameters are met.

Copyright ©

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This social event is sponsored by the ULCC and attendees will have the opportunity to meet members of the ULCC Board of Directors, view the second largest private art collection in Chicago, and network with other Amata clients at this special event.

Special guests of honor will be the recently elected Judge Jamie Shapiro and Judge Erika Orr.

When: Thursday, May 3rd, 2018
5:30 pm – 7:00 pm

Where: Union League Club of Chicago
65 Jackson Blvd, Chicago, IL

An RSVP is required to attend

Sign in for more info & to RSVP

Here’s What You’ve Been Missing at Union League Club of Chicago

• Expand your professional and social network
• A historic club committed to community, country, and culture
• Temporary reduced initiation fee of $125
• World-class art collection of more than 700 works
• Award-winning chefs providing some of the best dining experiences
• Access to unique experiences featuring at least 60 events per month
• Family programs available every month
• State-of-the-art health and fitness center
• More than 25 interest groups
• A public affairs committee committed to improving Chicago
• Complimentary shuttle service

For reservations, email [email protected]

Discover our networking events for Chicago lawyers.

As the digital age continues to grow, more and more people are turning to places like Facebook and Yelp to gather information about a company. Using digital platforms allows them to read reviews as well as leave reviews of their own and determine whether or not to invest their time and money into a business. Given the rise in digital communication, attorneys are finding themselves confronted with an ever-increasing amount of claimed non-disparagement violations.

Enter The Non-Disparagement Clause

A non-disparagement clause is a legal representation of a private agreement that restricts free speech. Employers often implement a mutual non-disparagement clause that promises both parties, company and employee, agree to not disparage the other.

However, as with any provision, the non-disparagement clause can come with inferences, assumptions, and questions regarding what, exactly, constitutes disparagement.

What Constitutes Disparagement?

At its core, the term disparage means to belittle or reduce in rank or esteem.

Generally speaking, if a non-disparagement clause is included in an employment or severance agreement, courts view and enforce it as a matter of contract interpretation principles.

In regards to the courts in Illinois, they examine the contract to determine the intention of all parties at the time they entered into it. Once the court has determined the intention, they may rely on a dictionary to provide a definition of any undefined terms, giving them their intended meanings.

Challenges Non-Disparagement Clauses Face

Certain positions within a company offer higher risks of disparagement than others. Employees with access to confidential information within the company, separated employees, and those that have been terminated all pose a greater risk.

While a non-disparagement clause can lessen this risk, it isn’t without its challenges.

These contractual clauses restrict free speech, and with that can come legal attacks from governmental agencies charged with regulating the workforce.

For instance, the Equal Employment Opportunity Commission (EEOC) has filed lawsuits challenging certain non-disparagement provisions included in severance agreements that precluded employees, both former and current, from cooperating with them in their investigations into illegal discrimination.

Consumer Review Fairness Act Levels The Field

In 2016, Congress passed this act in order to void provisions in non-negotiable “Terms of Use” contracts that limit someone’s right to publish genuine, negative reviews online.

Even the United States Supreme Court became involved when they overturned a non-disparagement provision due to it being an unconstitutional restriction on free speech.

Overcome Restrictions On Free Speech & Protect Your Company

Restrictions of free speech caused by non-disparagement clauses are not being taken lightly.

In order to best protect your company as well as your legal clients, these contractual provisions should be drawn up in a way that only includes what is reasonably necessary.

Ensure the language used in the non-disparagement clause limits the restriction on free speech. You will also need to include a reasonable timeframe the provision holds rather than an unending, over-generalized contract.

To find out more about non-disparagement clauses in the digital age, download the original article found in the Newsletter of Illinois State Bar Association.

Article shared by: Law Office of Cathy Ann Pilkington

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Last Thursday I had the opportunity to sit in on the CLE hosted by Steve Fretzin, Attorney Coach, contributing writer for the Chicago Daily Law Bulletin, and Attorney Dan Lear, Director of Industry Relations at Avvo. I am not an attorney, but since my clientele is made up of over 800 attorneys I make it a point to stay up to date on as many legal matters as possible.

The subject matter was of particular interest to me since I have been all-hands-in with my own online marketing efforts lately. To be honest, the presentation and materials were great and about 10 minutes into the class I was sitting at attention and taking notes, no small task for someone who has dealt with a level of ADHD all his life. When Dan starting talking about branding a law firm, he keyed in on three themes: authenticity, knowing your ideal client and consistency. I guess these are all easy concepts to understand, but try practicing them and see how easy they are.

As you would expect from someone with experience working at Avvo, Dan brought up several examples to demonstrate these three points, but two really stood out for me. The first was an east coast law firm that specializes in 2nd amendment compliance & consulting. The firm is named Think Pink Law and uses the tagline “We do law. Differently”. Pink is not the last name of a partner, but it sure stands out and is very memorable. If I ever learn of someone in need of legal advice dealing with the 2nd amendment, I am quite sure I will remember Think Pink Law.

The second example I clearly remember from Dan’s presentation is from an immigration attorney who targets a specific clientele by offering assistance in filing Form I-864 for financial support. The target audience is divorced spouses of green card holders. Now I am sure this is only one part of their immigration law practice, but this one very targeted campaign really hits home with their clientele. After they provide quality service to this group, how many client referrals are they adding to their monthly intake? Target marketing such as this is a great way to grow a law practice.

Dan then went into a Top 10 Intake list for lawyers which was very insightful. You can view Dan’s entire list here. Many parts of this list is inspired by this article by Chicago-based Gyi Tsakalakis Lawyerist.

Then if all this wasn’t worth the price of admission (and the free lunch), Steve launched into understanding the “buyers’” mindset and started asking questions like, “What is your motivation for doing business development?” and “What makes someone successful at business development?” (I guessed at this one, somewhat incorrectly). Just for clarification, I translate “business development” to “keeping your new client intake machine churning even when you are on vacation.” Steve explained how behavior influences attitudes which in turn affects beliefs.

To me, this partially explains how a very knowledgeable attorney with a discomfort of speaking to strangers (think networking in an unfamiliar group) is able to change their attitudes and beliefs by attending more networking events and interacting with others. Steve also discussed how to choose the best networking opportunities and how to make the most of these sometimes-difficult learning experiences. If you are serious about growing a thriving law business while also enjoying the business of life you really need to attend Steve’s classes.

Steve has a great understanding in the field of building successful law businesses. After all, he has consulted hundreds of attorneys, both experienced and new practitioners, written two books on the subject, and speaks to lawyer groups around the country. Steve’s full presentation can be found here. You can also visit his web site and learn more about his newest program for attorneys, Origination Station, at www.fretzin.com.

As I mentioned earlier, Steve Fretzin is a contributing writer for the Chicago Daily Law Bulletin, and his June article, which can be found here, analyzes if the Differences Between Sales and Legal Business Development are just Semantics? and is a great read, offering some great tips to get away from the traditional “pitch” to clients and how to hold back to better understand what will motivate the client to hire you.

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Ron Bockstahler has has worked with individual attorneys and law firms for the past 30 years, gaining an in depth understanding of the business of running a law practice. He is the co-founder and CEO of Amata Law Offices and Managing Broker for Amata Realty Group, LLC, a real estate firm dedicated to consulting attorneys on their office space needs. Ron can be reached at [email protected] or (312) 924-0204.