U.S. Legal Support named best court reporting and deposition service provider in the Midwest for the 6th consecutive year

U.S. Legal Support has been voted the 2018 Best Court Reporting and Deposition Service Provider in the Midwest by readers of The National Law Journal for the sixth consecutive year

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Huseby, Inc., recapitalizes to fuel acquisition growth

Huseby, Inc., and Carousel Capital, a private equity firm, announced their new partnership and the recent completion of Huseby’s recapitalization in a press release dated June 4.

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NCRA member Penny Wile profiled in business news

NCRA member Penny Wile, RMR, CRR, Norfolk, Va., owner of Penny Wile Court Reporting, was profiled in an article posted May 21 by Inside Business, The Hampton Roads Business Journal. The article was generated by a press release issued by NCRA about Wile being featured in the May issue of the JCR.

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How to pick the best court reporting services for your clients’ depositions

Newswire.net posted an article on May 19 that offers tips for picking the best court reporting firm for a client’s deposition.

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Court reporting firm Rhino Reporting launches On-Time Transcript initiative

Rhino Reporting, based in Ft Lauderdale, Fla., announced in a press release issued April 19  the launch of its On-Time Transcript initiative that focuses on a 10-business-day turnaround for all transcripts.

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CLVS certification process now more accessible and less expensive

NCRA members and others interested in earning the Certified Legal Video Specialist (CLVS) certification can now take the CLVS Mandatory Workshop online, making the certification process more accessible and reducing travel time and expenses incurred to certify as a CLVS. Registration fees for achieving the CLVS are also reduced with further savings for NCRA members.

In addition, the Introduction to CLVS education portion of the certification requirement will move to an online format after the NCRA 2018 Convention & Expo, which is scheduled for Aug. 2-5 in New Orleans, La.

Hands-on training and the Production Exam components are scheduled for June 8-9 at NCRA’s headquarters in Reston, Va. Following the hands-on training component of the certification process that will be offered at the NCRA 2018 Convention & Expo, all future hands-on training will be held at the Association’s headquarters in Reston, Va., and will be offered twice a year.

Jason Levin, CLVS, Washington, D.C., who chairs the NCRA CLVS Council will host a live webinar on April 16 for experienced individuals who have completed the new CLVS Mandatory Workshop online that will provide participants with the opportunity to ask questions about earning the CLVS certification and working as a professional legal videographer.

For more information about earning the CLVS certification, visit NCRA.org.

Exiting from your court reporting firm

By Terry McGill

Exiting your business is a hot topic for many owners that seems fairly simple at first glance. You start your firm, let it grow for 25 or 35 years, and then sell it to someone while you quietly walk into the sunset with a pocket full of cash.

But the reality is more complicated. When you started your firm, it was unlikely you were thinking about what you needed to do to sell in the future. And you might have assumed that there would just be someone to buy your firm at your price when you were ready to sell. That’s not always the case.

Let’s run through some of the things that you, as a court reporting firm owner, can do to make the whole process smoother.

The first question that we may ask is: How soon are you planning to leave your business? If you want out today and you started thinking about an exit last week, this is a different scenario than if you have been planning and engineering your firm for exit years in advance. Most of the time, owners have not planned ahead for the best possible exit.

When an owner exits a business, there are many, many considerations to be taken into account.  Here are a few questions you should think about:

  • What is my firm actually worth to an outside entity?
  • How would a deal be structured if I were to sell?
  • Is the buying firm a cultural fit with my existing firm?
  • What will happen to my staff and reporters?
  • Will my clients be treated in the same way that I have treated them through the years?

You may have even more questions, but let’s start with these.

What is my firm actually worth to an outside entity?

Unfortunately, it might not be as much as you think. Most owners want to be compensated for the years spent building their firms. Instead, the market is concerned with evaluating a firm’s value, usually using something called the EBITDA (earnings before interest, tax, depreciation, and amortization). An interested buyer will probably offer a multiple of that number to come up with a value that he/she is comfortable with. Both parties should consider many factors when coming up with a deal.

How would a deal be structured if I were to sell?

The structure of one deal can be different from the next. There isn’t a standard deal structure. If you are offered $1,000,000 for your firm, that $1,000,000 can be paid out in many different ways over a period of time. It may be in an upfront payment, or a smaller portion may be given at the beginning with the remainder being paid out over a period of time (for example, three to five years) to the owner. There may also be certain levels of revenue and earnings that are a part of the deal that could affect an owner’s payout over time. The main point here is that deals are created differently and structured differently based on an acquiring firm’s goals and directives.

Is the buying firm a cultural fit with my existing firm?

This is a valid question and concern for any owner. It’s important that the firm being acquired and the firm acquiring it are a good cultural fit; that is, they should have similar values. It’s to the benefit of both firms to explore this issue thoroughly. A transition to new ownership should be as seamless as possible — to benefit the staff, reporters, and clients. Many deals have gone off the rail because there wasn’t a cultural fit and similar mindsets moving forward. This is one of the reasons due diligence on both sides is very important to the acquisition or merger being a success. The financial aspect is extremely important, but the cultures should mesh as well and not be overlooked.

What will happen to my staff and reporters?

Again, this is a valid concern for an owner. You have built your staff and reporters over many years, and they have become part of your family. Most firms are respectful of current staff and reporters and are not interested in anything that would be disruptive to any potential acquisition of your firm. Your staff and reporters have helped build the firm to the point where an outside entity would be interested in acquiring your firm. It would not be to the acquiring firm’s advantage to make wholesale changes to the very people who contributed to the success of the firm. Having said that, other factors could affect the acquisition downstream.

Will my clients be treated in the same way that I have treated them through the years?

The clients are always a concern on both sides of an acquisition. They are the lifeblood of the industry. That’s one of the main reasons that the cultural fit is so important to ensure clients remain. An acquiring firm is taking risks because there is no guarantee that clients will continue to be clients. As owners, all of you take the same risk with clients every day. The client who is with you today is not guaranteed to be your client next month. Everyone in the industry understands the value of protecting the client base. This is an additional reason that due diligence is so very important in any exit strategy. Many of the potential negative issues can be avoided at the beginning instead of putting out fires at the end.

What we have tried to illustrate is that there is not a “one size fits all” type of deal. There are many different factors in many different areas to consider before you exit. Educate yourself as much as possible to ensure you understand the process and the components of the process before you move too far down the exit pathway.

Many owners are not prepared for all of the ramifications and, therefore, not ready to exit. If you are thinking about an exit, make sure you go into any potential situation as an informed and educated owner with the right questions.

Terry McGill is a small business consultant and managing partner of Strategic Business Directs. He assists court reporting firm owners with operational, financial, organizational, growth, marketing, sales, and exiting issues. He can be reached at terry@strategicbusinessdirects.com or 614-284-0846.

New online service helps legal professionals reserve qualified court reporters in seconds

JCR: Journal of Court Reporting, TheJCR.com, JCR WeeklyIn a press release issued Sept. 19, DirectDep, based in New York, announced a new online service that helps legal professionals reserve qualified court reporters in seconds. The online service works similar to reservation and appointment services such as OpenTable and Zocdoc.

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The JCR Awards recognize innovative business strategies and more

The JCR Awards offer the perfect way to showcase innovative and successful business strategies from the past year. For the third year, the JCR staff is seeking stories that bring to life new and inventive ways that NCRA members change the way they do business, serve their communities, and help promote the professions of court reporting and captioning.

Nominations are currently being sought for several subcategories, such as best-in-class stories for: Marketing and customer service; Leadership, teambuilding, and mentoring; Use of technology; Community outreach; Service in a nonlegal setting; and Court Reporting & Captioning Week (2017) initiative. In addition, NCRA is looking for a group and an individual who show excellence in more than one category for an overall “Best of the Year” award.

Any current NCRA member in good standing, with the exception of students, may be nominated for these awards. Court reporters, captioners, videographers, scopists, teachers and school administrators, and court reporting managers are all eligible for nomination as well as groups, such as firms, courthouses, or court reporting programs. Self-nominations are accepted. More information about specific criteria for each of the categories is available on the JCR Awards Entry Form.

To enter, submit a written entry to the JCR between 300 and 1,000 words explaining the strategies implemented and why they were successful. Ancillary materials, such as photos, may also be submitted with the nomination. Nominations will be considered based on the best fact-based story. Please be prepared to offer documentation, verifiable sources, or other assistance as needed to be considered for these awards. The stories of the finalists will be published as featured articles in the March 2018 issue of the JCR.

Nominations are due by Oct. 31.

Read about the winners from 2017 and 2016.

New professionals share their advice, strategies for earning the RPR

The Registered Professional Reporter (RPR) is NCRA’s foundational certification, which tests the essential knowledge and skills for an entry-level reporter. Members of NCRA’s New Professionals Committee who have earned their RPR within the last few years shared why they earned this certification, their strategies for preparing for and passing the exam, and which certification is next on their list.

The value of the RPR

Depending on the state or job, a reporter may need to earn the RPR. For example, Melissa Case, RPR, was aiming for an officialship in Ohio, which required the RPR. Danielle Griffin, RPR, needed to earn it (along with a written test) to practice as a freelancer in Arizona.

Even in states that have a requirement such as a certified shorthand reporter (CSR), earning the RPR has its benefits. For example, some states will accept the RPR in lieu of the CSR. “The RPR requirements are almost identical to my state requirements. It was an easier and quicker process to go through for certification since my state accepts the RPR in order to practice as a reporter,” said Michael Hensley, RPR, a freelancer in Illinois.

Rachel Barkmue, RPR, an official in California, used the RPR to help her prepare for her state’s CSR. “I took the RPR Written Knowledge Test in conjunction with my state’s CSR written exam, so the materials were similar, and I took them both around the same time,” she said.

However, earning the RPR means more than simply fulfilling a set of requirements. Some reporters are looking for a professional or personal boost. “I knew it would open up a lot more doors for me,” said Case. Barkume earned the RPR for “more marketability and my personal goal of getting as many extra letters after my name as possible. I always want to keep striving for something new.”

Mikey McMorran, RPR, a freelancer in California, had earned most of the segments of the RPR as a student but got tripped up on the testimony leg. “Really when it comes down to it, the biggest reason I decided to go after my RPR was for my own reputation among my peers as well as my own reaffirmation that I belong in this profession,” he said. “As someone who has attended many court reporting functions over the years, I don’t think I’ve ever attended one in which the question did not come up from someone, ‘Do you have your RPR?’ Honestly, it was a little bit embarrassing to have to say every time, ‘Oh, I have all of the legs except for one.’”

Finding the right resources

Most of the members of the New Professionals Committee practiced for the RPR on their own using a variety of strategies. Several members used their school’s environment or resources to earn their certification. “I obtained my RPR as part of my schooling program. Once I finished speeds, then I set my sights on the RPR with all of my time and energy resources,” said Hensley.

“Take the RPR while in school or freshly out of school if possible. There is no replacement for that test mentality that you get daily in school. Once you’re working every day, you lose the test mode and it’s very difficult to get back in that mindset while also handling a working calendar,” said Barkume. “I was still in school/less than a year out of school when I took all my legs (I passed one at a time over three testing dates), so I still had the dictation recordings from school, etc. to help me practice at home.”

Griffin used dictation from the Magnum Steno Club — run by Mark Kislingbury, RDR, CRR, a broadcast captioner in Texas — and EV360. “Between EV360 and Magnum Steno Club, the dictation I was practicing was much harder than the actual test, which worked to my advantage when test nerves kicked in,” said Griffin. She explained her strategy of practicing above the normal speed. “For some reason, testing for the RPR made me nervous. I had to make sure I was above the required speeds so that when the test started and my nerves kicked in, I had an extra bit of speed reserved to account for that.” She practiced 30 to 40 percent above her target speed. “The purpose is to envision yourself as if you were sitting in a speed competition, as a competitor, and writing as if you had expert precision,” she said. “If you take that dictation back down to 225 or a new take at 180, 200, or 225, while applying that same mentality, you will achieve your speed faster than you think.”

Several members of the committee found valuable resources through NCRA. Hensley used recordings of previous RPR Exams, saying the real thing felt “like just another day of practice instead of an actual test.” Case used the RPR Study Guide to aid her in preparation. She commented: “the Written Knowledge Test was much harder than I expected.”

While most new professionals practiced solo, a couple mentioned having a community to lean on. “In Arizona, we have an extremely supportive court reporting community. There are many veteran reporters that are able and willing to volunteer their time to help and mentor students,” said Griffin. “I was able to work with Doreen Sutton, RPR, and Kim Portik, RMR, CRR, CRC, CLVS, to help with the RPR Prep classes.” She added: “That was also a great way to meet other students, practice together, and share suggestions.”

McMorran agrees on the value of a strong court-reporting network. “If you surround yourself with the reporters who do the bare minimum in this profession and talk about how certification is so unnecessary or how hard the test is, then it becomes so much harder to get into the right mindset to pass as opposed to being surrounded by people who can reassure you that you can do it because they did it,” he said.

Mastering online skills testing

Some of the new professionals did their RPR entirely online while others had taken legs of the Skills Test prior to the switch from brick-and-mortar testing. Overall, online testing won out as more convenient, although it took some adjustment.

“I took the RPR the last time it was offered at a brick-and-mortar site. The second time I took it, it was offered online. I have stories about the first few attempts trying to log on to take tests for the RPR. I soon found out that I was using a netbook. Once I switched to a laptop computer and not a netbook, I passed my last two tests,” said Griffin.

McMorran also had a learning curve with the technology. “When I first took the online style, I really did not do a great job of practicing with the webcam and didn’t even bother to schedule the proctored practice that we have the ability to do. Big mistake on my part,” he said. “My first attempt using the online method, I had some webcam issues that left me flustered right before the exam. I ended up not passing that attempt and knew it was on me for lack of preparation. I rescheduled another attempt at the exam for a week later so that I could properly prepare from a technology standpoint and ended up passing that following week.”

Both Griffin and McMorran found online testing to be more convenient than being at a brick-and-mortar site. “Online testing is such a great tool to be able to have at our fingertips. As a student, you are no longer having to wait twice a year to test. What a relief!” said Griffin.

McMorran said that even though he was initially intimidated about the concept of online testing, “once I actually put the time in to read everything over and prepare for the use of the webcam, not only did I find the technology side to not be intimidating at all, but it is so much easier than dragging a printer to a testing location.”

What’s the next step?

The new professionals are mixed on whether their next certification goal is the RMR or the CRR.

Griffin is leaning toward the RMR, saying: “I am excited to continue learning and also refining my writing.” Hensley agreed, adding: “I want to have a good grasp on speed so that I can next move into offering realtime.”

Realtime is a big pull. “We have to do realtime at the courthouse,” said Case for why she wants to earn the CRR.

“I’ve taken a handful of realtime job over the last year, but I don’t think there’s anything that would give me more confidence heading into each and every realtime job than seeing those initials after my name,” said McMorran.

“I want the CRR because I will receive a salary increase at my court for realtime certification, and it will make me more marketable in the future for other goals I want to achieve. I’d also like to work towards my CRC for the same reasons,” said Barkume. “Realtime is the most important part of reporting, in my opinion. It is what will save our jobs.”