Smart Lawyers Position to Transition

Victoria Collier
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  • UPDATED WEEKLY

I'm here to totally disrupt the legal industry and how lawyers exit their law firms. I want to crush the old notion that you can't sell your law firm or that it is not worth anything. You absolutely can and … There is a Better, Much more profitable way.

  1. 5D AGO

    Profit or Illusion: Understanding Net Profit, EBITDA, and SDE When Selling Your Law Firm

    Think you know your firm's profit? Think again. In this episode, host Victoria Collier breaks down one of the most misunderstood parts of selling a law firm: the true meaning of profit. Victoria explains the critical differences between Net Profit, EBITDA, and SDE—and how each number tells a very different story about your law firm's financial health and value. Whether you're still growing your practice or preparing to sell, understanding these metrics can mean the difference between a fair price and leaving hundreds of thousands on the table. You'll learn •⁠  ⁠Why "profit" isn't a one-size-fits-all term •⁠  ⁠The big mistake law firm owners make when relying on their tax returns •⁠  ⁠How EBITDA and SDE reveal your firm's true earning power •⁠  ⁠What buyers are really looking for in your financials •⁠  ⁠How to use these numbers to increase your valuation and negotiation leverage  Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

    17 min

  2. OCT 30

    The Smart Seller's Secret: Why Financing the Buyer Can Work in Your Favor

    Everyone wants that big check on closing day, but what if not getting it all upfront could actually work to your advantage? In this episode,  host Victoria Collier breaks down why seller financing can be a smart, strategic move when selling your law firm. Learn how seller financing works, how to structure it safely, and why it can help you: * Maximize your firm's value * Expand your pool of qualified buyers * Earn interest income while enjoying a smoother transition * Potentially lower your tax burden Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

    20 min

  3. OCT 23

    Is There a Season for Selling Your Law Firm?

    Is there really a "right time" to sell your law firm? In this episode of Smart Lawyers Position to Transition, Victoria Collier breaks down how timing affects sellers and buyers differently—and what both sides should be doing before the year ends. Victoria shares why sellers shouldn't wait for a "perfect" season, and how buyers often use Q4 to plan and position themselves for a strong start in Q1. From financial prep to strategic timing, this episode is packed with practical advice to help you take action now. You'll learn: •⁠  ⁠Why the best time to sell is when you're ready—financially, emotionally, and strategically •⁠  ⁠How buyers view seasons differently and factor in the economy, politics, and practice type •⁠  ⁠Why Q4 activity often sets the stage for Q1 acquisitions •⁠  ⁠What sellers must do now to look attractive in January (hint: clean financials and strong net income) •⁠  ⁠How buyers can use Q4 to line up financing, define criteria, and build relationships The market rewards readiness. Sellers who prepare before the new year attract stronger buyers, and buyers who plan now move faster later. Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

    11 min

  4. OCT 16

    After the Ink Dries: The Little Things That Make or Break a Smooth Law Firm Transition

    You've signed the papers, the wire hit your account, and you're ready to celebrate, but your work isn't done yet. In this episode, Victoria Collier uncovers the often forgotten post-sale details that can create real problems if they are ignored. From websites that go dark to phones that stop ringing and trust accounts that are not properly transferred, these "little things" can quickly turn a smooth sale into a stressful mess. Victoria shares real examples from law firm transitions to help you avoid costly mistakes and protect your firm's reputation, clients, and cash flow. In this episode, you will learn •⁠  ⁠Why closing day is not the finish line, but the start of your transition •⁠  ⁠The most overlooked post-sale tasks that can disrupt your firm's operations •⁠  ⁠How to correctly transfer your website domain, phone numbers, and trust accounts •⁠  ⁠What to do if your firm owns its office building, including utility changes that are easy to miss •⁠  ⁠How to keep your team and clients reassured during the handoff so business continues without interruption If you are preparing to sell or buy a law firm, this episode will help you handle the small details that make a big difference once the ink dries. Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

    19 min

  5. OCT 9

    Form 8594 Explained: Avoiding IRS Headaches When Selling Your Law Firm

    IRS Form 8594 might sound like dry paperwork, but it's one of the most important documents in a law firm sale. In this episode, our host Victoria Collier breaks down what the form is, why it matters, and how to avoid post-sale IRS problems. From understanding asset classes to negotiating allocations that minimize taxes, this conversation shows how smart preparation can save both buyers and sellers from stress (and money) down the road. Key Topics Covered •⁠  ⁠What IRS Form 8594 is and why both parties must file it •⁠  ⁠Why the buyer's and seller's forms must match •⁠  ⁠How asset classes like furniture, accounts receivable, goodwill, and non-competes are taxed differently •⁠  ⁠Real-world example of a seller facing IRS trouble a year after closing •⁠  ⁠When the form should be completed and filed •⁠  ⁠Why professional advisors (brokers, accountants, attorneys) are essential in this process  Form 8594 isn't just another piece of paper—it's a critical tax document that can make or break your post-sale peace of mind. Handle it early, handle it correctly, and avoid costly IRS surprises. Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

    17 min

  6. OCT 2

    More Than Money: How to Choose the Right Buyer When You Have Multiple Offers

    Every law firm owner dreams of multiple offers when it's time to sell. But what happens when you're the one holding the cards and now have to choose? In this episode, host Victoria Collier unpacks how to compare offers beyond just the purchase price. You'll learn: •⁠  ⁠Why deal structure matters as much as the dollar figure •⁠  ⁠How to evaluate cash up front versus performance-based payments •⁠  ⁠The role of transition periods and whether you'll be compensated fairly for your time •⁠  ⁠And much more!  Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

    16 min

  7. SEP 25

    What's It Really Worth to You?: Beyond the Price Tag of Selling Your Law Firm

    When it comes to selling your law firm, the question isn't just what's my firm worth? It is what's it worth to me? In this episode, Victoria explores the intangibles behind a sale. The purchase price may grab attention, but for most sellers, factors like time, health, stress, and what comes next in life carry equal or greater weight. What You'll Learn in This Episode: •⁠  ⁠Why the "highest offer" isn't always the best offer •⁠  ⁠How time commitments in a deal can make or break it •⁠  ⁠Why health can outweigh every other factor in your decision •⁠  ⁠The role of stress, peace of mind, and future opportunities in choosing your next step •⁠  ⁠How to evaluate offers based on your personal goals, not just the dollar signs If you're considering selling your law firm, this conversation will help you think beyond the balance sheet and get clear on what matters most to you. Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

    15 min

  8. SEP 18

    The Lifecycle of a Law Firm: From Start-Up to Plateau

    Every law firm goes through distinct stages: from the hustle of startup, through the rapid growth of scaling, to the challenges of repelling, and finally the stability of plateau.  In this episode, host Victoria Collier breaks down what each stage looks like, how income changes along the way, and when it makes the most sense to sell. Whether you're just starting out, feeling the stress cracks of growth, or enjoying a period of stability, knowing where you are in the cycle is key to making smart business and exit decisions. What you'll learn in this episode: •⁠  ⁠The four stages of the law firm life cycle: startup, scaling, repelling, and plateau. •⁠  ⁠How income, expenses, and owner take-home shift in each stage. •⁠  ⁠Why scaling is the best time to sell, and plateau is the second best. •⁠  ⁠The risks of trying to exit too early in the startup phase or during repelling. Take a moment to reflect: where is your firm right now, and what does that mean for your next move? Victoria Collier is a seasoned attorney, entrepreneur, and expert in law firm sales and valuations. With a background in law and accounting, including her prior military service and CPA training, she brings a unique perspective on the financial intricacies of business valuations. Victoria helps transform law firms into more valuable and sellable businesses, guiding attorneys through life after law.   We want to hear from you! You can leave us a rating and review in Apple Podcasts. Click here and then scroll down the page to the rating and review section. You can also leave us a rating in Spotify by clicking here. Connect with Victoria Collier https://quidproquolaw.com/ Private Facebook Group https://www.facebook.com/groups/1284225722042602 LinkedIn https://www.linkedin.com/company/victoria-collier-coaching/

    17 min
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I'm here to totally disrupt the legal industry and how lawyers exit their law firms. I want to crush the old notion that you can't sell your law firm or that it is not worth anything. You absolutely can and … There is a Better, Much more profitable way.

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