1. Why Law Firm Partnerships Fail and How to Structure Them Right With Michael Roch Ken Hardison 35:42

Welcome to episode 324 of Grow Your Law Firm, hosted by Ken Hardison. In this episode, Ken sits down with Michael Roch, a partnership consultant who specializes in partner compensation and governance for professional services firms. With more than 25 years of experience advising organizations across the globe, Michael works with law firms and other professional partnerships on issues related to profit-sharing, incentives, partnership structures, and long-term sustainability. The conversation focuses on the realities of law firm partnerships, including how compensation systems influence behavior, why partners actually leave firms, and how owners should think about equity versus non-equity roles. Michael also shares practical insights on structuring partner buy-ins, aligning incentives, and avoiding the common mistakes that cause partnerships to break down. What you’ll learn about in this episode: 1. Choosing the Right Partner – Why character, trust, and shared values matter more than compensation formulas – How alignment on vision, work ethic, and long-term goals shapes successful partnerships 2. Why Partners Really Leave Firms – Why compensation is rarely the primary reason top partners exit – How fairness, workload balance, and firm purpose influence retention 3. Equity vs. Non-Equity Partnerships – The strategic reasons firms create two-tier partnership structures – How non-equity roles can balance prestige, compensation, and risk 4. Structuring Partner Buy-Ins and Ownership – Why “skin in the game” leads to better long-term decision making – Practical ways firms finance partner buy-ins without creating financial strain 5. Protecting the Firm When Partnerships Change – Key partnership agreement provisions that help prevent disputes – Why due diligence and clear expectations matter before bringing someone into ownership Resources: Website: mhpradvisors.com/insights-signup LinkedIn: linkedin.com/in/michaelroch Additional Resources: https://www.pilmma.org/the-mastermind-effect https://www.pilmma.org/resources https://www.pilmma.org/mastermind

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Ken Hardison Millionaire Maker

Ken Hardison, is known as the “Millionaire Maker” for a reason- having helped lawyers across the country double, triple, or quadruple their law practices and income, he brings to law firm owners the insights, knowledge, and critical strategies of Legal Marketing and Management that can only be learned in the trenches of real law firm success.

With over 30 years of legal experience, Ken has personally grown and sold two seven-figure law firms and has shared his knowledge and experience with attorneys, helping them experience exponential growth, increased profits, and ethical market preeminence.

With a passion and deep understanding of both grassroots and cutting-edged online legal marketing strategies, Ken is committed to helping lawyers experience greater levels of financial success, freedom, and personal satisfaction- the kind that comes from building an ethical and exceptional law practice. Focusing on the practical and the proven, rather than the cerebral, Ken guides lawyers through the steps needed to build the law practice many lawyers have only dreamed possible.

Ken is the Founder of PILMMA, Personal Injury Lawyer Marketing and Management Association, dedicated to helping lawyers learn the critical strategies to success. As a trusted advisor, consultant, coach, and Mastermind mentor, Ken has coached lawyers to greater success time and time again.

PILMMA’s powerful live and virtual events, such as the ever-popular Law Firm Growth Super Summits and Internet Domination Boot Camps have helped hundreds of lawyers gain the insights and strategies they need to propel their firms forward to greater success and exponential results and to stay current on the latest legal management and marketing strategies, such as leveraging SEO, PPC, PPL, Social Media, etc.

Ken is the author of numerous best-selling books such as Systematic Marketing, Under Promise, Over Deliver, and his latest book, Powerful Online Legal Marketing. He’s known for his practical and engaging style of taking the complicated world of legal marketing and management and giving clarity and step-by-step guides that any lawyer can implement to experience real results, greater profits, transformational growth, and heightened success.