GMS Business Consulting 74 Comments

Part 1: Out-Strategize & Out-Maneuver Your Competition

Business Development Services

Business Development Services

Hello everyone, and Happy New Year!  Today’s post is part-one of a three-part series on how to “Out-Strategize & Out-Maneuver Your Competition“.  After 30+ combined years of business and consulting experience, we have seen common threads related to business success and failure.  These common threads may appear to be quite simple at the surface level, however beneath the surface they may vary significantly in complexity depending on the nature of the practice, targeted clients (and their particular needs), and one’s ability to effectively reach & communicate your value proposition to them.  That said, the successes and failures all have a few things in common…right from the start.  That’s what we’re going to address today… Read more

GMS Business Consulting 148 Comments

Business Succession

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Hello Everyone!  Recently, we met with a few attorneys with small practices, in their late 60’s with no plans of retirement, nor thoughts of business succession.  That’s a concern we have for many business professionals today who know better to plan for events like this, yet they don’t.  Over the years, we’ve seen many business professionals own and operate very successful practices/businesses, however we’re still surprised to see how many have not planned for their business succession.

If there is a younger family member coming into the practice or business, then that is a natural business succession, and the business owner has a whole lot less to concern themselves with.  Conversely, if there is no family member or young associate interested in taking over the practice some day, then that leaves a potentially valuable asset foregone and left behind, and clients that will still need to be served. Read more