The Leaders in Law blog is dedicated to discussions with leading lawyers and legal thought leaders on topics including law firm management, legal developments, future of law, leadership in law firms, and the business of the practice of law.
This week we are talking with Gabby Smith, the founder of GNS Law and the Exit-Ed Podcast.
1. What drew you to the practice of M&A law?
I love the process of helping a founder exit the business he/she has been scaling. Selling your business is one of the most pivotal and emotional things that you will ever do, and being the attorney helping our clients sell is the most fun part of it.
2. What does an ideal client or referral look like for your practice?
A client that is in the process of scaling or thinking about selling in the future is great for us. For those clients, we set them up for success to maximize their sale value. A company with an LOI in hand is also a client we like to talk to.
3. What is the best way for a potential client to contact you to start a discussion?
Via email to gsmith@gnslawpllc.com.
4. What is one thing you would like your clients and potential clients to know about the way you handle your law firm engagements?
We only work with clients who hire us for our negotiation skills. We are big on reading the room, and identifying issues early on. We do a deep dive on the business model, financials, and more, so we can position the deal for maximum sale value and minimizing the nonsense. It is an art. In terms of drafting papers and all that, that's not what we get hired for. We do that, of course, but our clients come to us because we are known for being great negotiators.
5. What is the most creative thing you did to get your business started, or kept it going through a tough time?
We have the Exit-Ed Podcast where we interview founders that exited. We go through their life stories, business scaling, and then the sale event. People love it.
6. What do you see as the future of M&A law?
Working with a boutique-size law firm like GNS Law that knows how to get the deal done is the best way to position yourself to sell your company.
7. Do you have any new developments on the horizon?
Right now, we are focused on getting the word out about our podcast, Exit-Ed.
Spotify: https://open.spotify.com/show/6sjzr2bRsxiPOJLnLBZ2nx
Apple: https://podcasts.apple.com/us/podcast/exit-ed/id1813911047
YouTube: https://www.youtube.com/@Exit-Ed
8. What's your business model for success?
We're passionate. Law can be a boring profession and not well-liked by society. But because we love what we do, at GNS Law we see this as the secret sauce for our success. The best compliment we get from clients is when they tell us "you don't sound like a lawyer." That is because we are business people who happen to be lawyers and that is how we handle our deals.
9. What's your "one thing" that most drives your professional success?
I have to say it is passion for what I do. I also have a "no BS" policy where we go and solve the issues and do not allow for entanglements to delay a deal.
10. What do you know now that you wish you knew when you started your career as a lawyer?
My path so far has been one of working very hard to get to where I am, and I would not change anything in it. I have learned a lot but I learned everything at the right time.
11. What are you reading right now?
Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant by W. Chan Kim and Renée Mauborgne.
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