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The wealth-building strategy for the executive team and investors in a franchisor traditionally focused on setting the stage for one of three scenarios: a private sale to a strategic buyer; going public through an initial public offering, with a secondary offering to partially liquidate the group's investment; or establishing an enterprise with significant cash flow available for salaries, bonuses, dividends, and other emoluments of financial success. An attractive option now available is the private equity option, which involves a sale of all or the controlling share of the equity of the business to a financial buyer. This approach reorients financial exit strategy to harvest simultaneously the gain in enterprise value while positioning existing management and possibly investors to participate in future value accretion. This approach usually allows, or even compels, existing management to participate in the equity of the business going forward.

In the early days of attorney advertising, law firms created ads to demonstrate their unparalleled integrity and resourcefulness. Some three decades later, law firms are creating ads to demonstrate their unparalleled integrity and resourcefulness. Although firms themselves have undergone profound changes since the U.S. Supreme Court decided 30 years ago this month that even lawyers were entitled to free speech, the profession's advertising manner and message ' especially among the larger firms ' have evolved very little in those 30 years, according to many industry observers.

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Keep it Simple. It sounds basic and obvious, but it is easy to complicate even the most important things. And how many things are more important than growing your practice? You certainly can be a good lawyer and provide technical excellence, but how will that help you achieve your goals for financial success and job security? Will it enable you to achieve the professional status you desire? Will you command sufficient respect within your firm and among your peers?

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HTML e-mail (that is, e-mail with images and formatting as opposed to straight text) remains an excellent tool for attorneys to promote their expertise to a targeted group of clients on a recurring basis in a discrete, professional manner. As more and more law firms embrace e-mail as a marketing tool, it is important that they follow 'best practices' in design and coding to ensure that their e-mail communications generate optimal results. While the discussion may be a bit technical, the considerations discussed in this article are every bit as important as the content in your e-mails.

The popularity of the practice group ' an entity within a firm comprised of those who practice a specific area of law or serve a specific industry ' is well grounded, in that it opens a number of advantages to managing a practice and better serving clients. But so complex and management sensitive are practice groups that they open, as well, the easy propensity to misuse the practice group concept in a classic case of poor management canceling the value of a good concept.

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I have always enjoyed trying to understand why some people are very successful and why others are not. Interestingly, I have found many of the most successful people also have greater fulfillment in their personal and family lives. How can this be so? Put simply, they understand both their career and life priorities, they develop a plan based on these priorities, and they use their time wisely. Most of us start our law careers with great enthusiasm and then, to borrow a phrase from a new Seth Godin book, 'we hit the dip'. This clarity of career and life priorities helps successful lawyers get through the dips.

If pressed, undoubtedly any woman attorney could come up with a litany of reasons why she cannot be a rainmaker or proactive networker, ranging from responsibilities at home to discrimination or being underestimated in terms of capabilities by bosses or clients, both male and female. The good news is that rather than searching for excuses, many female lawyers are aggressively and successfully networking to develop their client rosters despite challenges they face.

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The first half of 2007 revealed some new trends in law-firm marketing, including structural shifts in departments that are yielding the addition of new job functions. This has made the quest for talent to fill these roles exceedingly difficult.