Sample Business Plan For Law Firm

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While there is some value in simply going through the planning process, the key to your success will be implementation.

Find a way to keep your plan top of mind and remind yourself of your commitments.

Sally Schmidt is President of Schmidt Marketing, Inc., which offers marketing services to law firms.

She was a founder and the first President of the Legal Marketing Association.

The next step might be to develop a one-paragraph synopsis of the article to pitch to the media. Writing an article might seem overwhelming so take it in stages.

Second, keep your plan handy and look at it regularly. Calendar a reminder notice to look at your plan on the first of each month and select activities for the next 30 days.Outline this section before you write to save yourself an hour of revisions. While some firms buy books for accretive growth, others have succession planning concerns in mind.Some have platform expansion on their minds or an appetite to build a practice that cross sells nicely with an existing client base.For example, Outbound Lit, IP Lit and Inbound Lit, could be three sections under your category heading. If you anticipate an increase or decrease in your historic revenue, be sure to list why, as firms will examine this section carefully.The next column should list the percent of work serviced specifically by you.A chart that lists your major clients and the revenue generated from them each year is sufficient.Revenue Projection: This section is perhaps the most difficult and of the most interest to law firms.Strategy: Your strategy section should outline your vision for your practice at the firm.This is not the time for ambiguity; if your strategy calls for additional associates to service extra work, include this in your strategy. Your strategy should detail current market trends and forecast future ones to synthesize a strategy that accounts for potential growth or decay in your practice.This is the time of year when many law firms require their lawyers to develop a personal marketing or business development plan. Without getting mired in jargon, I recommend the following elements for a lawyer’s plan: 1. These are more aspirational and usually unlikely to be achieved in a year. Examples of objectives to match up with the goals above include: Finally, here are two tips for making your plan successful.Even if it is not required, most lawyers start thinking about their goals as the new year approaches. First, break your activities down into smaller, manageable steps.

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