Plan today, retire comfortably tomorrow.
You can’t pass the torch when no one’s waiting for it. Though you may not want to step away from practicing law, you’ll need to hand over your clients and responsibilities at some point. Succession planning helps you find the right replacement, maintain the monetary worth of your firm, and organize a smooth transition for your clients and employees.
You don’t have to accept every customer.
You exhaust the possibilities to expand your client base, face new career challenges, and get a leg up on your competition. But you can’t let your business goals cloud your better judgement. As much as referrals can help your law firm succeed, they can cause just as much harm if not handled properly.