470. AMMA - Owner Dependency Is Quietly Killing Your Firm

Episode notes

The most valuable thing you can build into your firm is its ability to run without you. In this AMMA episode of The Game Changing Attorney Podcast , Michael and Jessica Mogill answer the questions most firm owners put off until it's too late. When should you really start succession planning? How do you pick a successor without letting loyalty override the right call? And how do you build something worth more than the income it generates while you're in it? Michael makes the case that a firm dependent on its owner is a firm that's quietly losing value, and he lays out what it takes to change that. Plus, he kicks things off with his favorite recent movies, shows, and books. Here’s what you’ll learn: Why succession planning should start at least five years out, and what happens when you wait until your back's against the wall How to separate the discomfort of a hard conversation from the decision that's actually right for the business What it takes to turn your firm into an asset that grows whether or not you show up If something happened to you tomorrow, would your firm survive without you? Build like the answer needs to be yes.

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