PLAN OR PERISH: Boost Firm Profits with a Business Plan
Law firms are businesses. All businesses need business plans. All law firms need business plans. This logic would seem to be obvious but surprisingly most law firms don't have marketing or business plans. The excuses are universal:
No time.
We're too small
Don't know where to start.
Not good with numbers.
We have a general practice -- there is too much to cover
We run a boutique firm -- there isn't enough to cover
We're turning away business already
We can't afford a business plan
Don't know whom to assign to do it
I've got one in my head but don't have time to write it down
Individually or collectively, excuses for not having a business plan are hurting your practice -- unless all your client work is pro bono (and sometimes it just seems that way).
To make business grow post haste, it is vital to know where you have been, where you are and where you want to go. Putting a plan in writing forces you -- as Samuel Johnson said about the prospect of hanging in a fortnight -- to concentrate one's mind. You will answer questions about the current state of your law firm. Who are your most lucrative clients? From which industries are the most revenues being derived? Who is your real competition? What should your financial goals be and how can you achieve them?
A written plan forces you to face reality and not ignore the inexorable - changes in both your organization and the marketplace. As lawyers you recommend to your clients "put it in writing BEFORE you act." You should follow you own advice when it comes to business decisions.
The good news is that Buy-Laws can make it easy for you to generate more revenue and grow your practice. We can complete a business or marketing plan you need now, with your input, in as little as three weeks. First, we will execute a confidentiality agreement. Then we will ask you a series of pointed questions, many of which you will be able to answer directly over the phone. Others may be more suitable to be completed via email if you prefer. The end result
will be a business or marketing plan that is a living document and will serve as a blueprint for your business decisions for years to come.
Buy-Laws business and marketing plans come complete with color charts and graphs to illustrate our recommendations.. See our sample tables of contents (click on links below) to give you a good sense of what you are missing.
Law firms are businesses. All businesses need business plans. All law firms need business plans. This logic would seem to be obvious but surprisingly most law firms don't have marketing or business plans. The excuses are universal:
Individually or collectively, excuses for not having a business plan are hurting your practice -- unless all your client work is pro bono (and sometimes it just seems that way).