Sample Business Plan For Law Firm

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

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She is a Fellow of the College of Law Practice Management and was one of the first inductees to LMA’s Hall of Fame.

note: This is the latest installment in a series of posts Lateral Link’s team of expert contributors.

A business plan is one of the most important tools to explain your practice, relationships, and strategy to another law firm.

You should put together a business plan before even pursuing opportunities to preemptively answer questions that you anticipate encountering throughout the lateral placement process.

A chart that lists your major clients and the revenue generated from them each year is sufficient.

Sample Business Plan For Law Firm 50 Essays Anthology

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.

Completing this section requires straddling a fine line between over and under-projecting.

The chart in this section should break down your work by category.

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