We closed a ~$25 million transaction this week.

It was intensely negotiated with opposing counsel being the type of big law PE attorneys I’m used to seeing from my Kirkland/big law days.

Over the last two years, focusing on SMB and independent sponsor work, we’ve had to retrain ourselves.

In the big law hourly billing world, deals were worked to the bone, extracting every last conceivable bit of value (and time).

Our clients in SMB and independent sponsor work have been clear: they don’t want that.

They want us to protect their interests, tell them what they need to know, move quickly, and then get out of the way.

This is why we bill flat fees instead of hourly.

It's incredible what financial incentives do to a person’s mentality.