Analogy Taxi Cab Medallion Owners in the 2010s to Senior Attorneys’ Books of Business in the Mid 202

With Uber entering the market in 2009, the writing was on the wall in the early 2010s, if you were a taxi cab medallion and had still value in that medallion - same in a lot of respects for today's Senior Attorneys.

You have Books of Business.

Your Book of Business may not be replenishing as much as it did in yester-year.

And, years from now, as the 2020s progress, your Book of Business is going to become less valuable.

In terms of that writing is on the wall, Growing Law Firms, they want and need your Book of Business.

And, when our clients join Growing Law Firms, they actually replenish the value of the Book of Business, particularly because Growing Law Firms, they do invest in Multi-Channel Digital Marketing.

They're going to start reaching out to your clients and your Referral Sources to be able to offer legal services to those clients for whom you would receive credit in terms of law firm sales because the sales that we structure today are primarily what we call Law Firms Sales. 1.0, where Senior Attorneys are getting paid a percentage of the revenues that come in from that Book of Business.

So, in that respect, it's even unlike the taxicab medallion, right?

That is, the taxicab medallion owner in the early 2010s did much better by selling the medallion before Uber just absolutely fully disrupted the marketplace.

The disruption in the legal marketplace today is Multi-Channel Digital Marketing.

Unlike the decreasing value in the taxicab medallions, though, when our clients, when Senior Attorneys are taking those Books of Businesses, joining Growing Law Firms, those Growing Law Firms are growing the Book all over again.

And, Senior Attorneys financially benefit while they are practicing at those firms - by the way, no longer having to manage your own firm. And, they're benefiting from practicing, as well as when they retire.

And, they're able to benefit by sharing in the revenues that come in from that Book of Business over a negotiated number of years.

Episode 9 of The Ask the Law Firm Seller Show:    • The Ask the Law Firm Seller Show – Episode 9  

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