Creating Succession Plans That Focus on Success
Succession planning can, at times, be a critical component of strategic planning. Lacking such a plan imperils your firm’s ability to handle the inevitable loss of your firm’s greatest asset – its people. Successfully executing a succession plan ensures continuity of your firm’s management and its important client relationships.
If you want to protect the future of your firm, work with attorney Roy Ginsburg. He provides strategic advice to solos, small and mid-sized firms regarding their need for a sensible succession plan. He offers this as a standalone service or as part of his strategic planning services.
Why Your Law Firm Needs a Succession Plan
The type of succession plan your law firm needs depends on its size. For instance, succession planning for solos is usually about identifying and extracting value from that practice. You want to consider all options before you construct a succession plan that will make the most financial and personal sense for you. Those options include:
- Downsizing your law firm
- Selling your firm
- Going “of-counsel” in your own firm
- Moving to an "of-counsel" position at another law firm
Succession planning for small and mid-sized law firms, however, has a different focus. For these law firms, the emphasis is on leadership succession and client retention. In particular, by creating a strong succession plan for your law firm, you can:
- Lay the foundation for identifying and developing new leaders
- Ensure the continuing representation of key existing clients
Succession Planning With An Emphasis on Success—Work With Roy
Work with an advisor to gain access to experienced advice and knowledge about how to best plan for the future. Work with Roy Ginsburg.
In addition to his 10-plus years of coaching and consulting with lawyers and law firms on the best way to approach succession planning, Roy has 30 years of experience actively practicing law. Call him today at (612) 524-5837 or send him an email.