Small Law Firm Business Plan

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He holds a Bachelor of Arts in history and economics from Bristol University.A startup business may require initial advice on the legal requirements for establishing the company.Later, as it hires people, the company will require advice on employment law. 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.The answer is simply, the LPQ is your one-sheet resume, with just enough details to diligence a conversation on a lateral partner. There isn’t one set way to compose a business plan, but generally the best business plans we see follow this structure: Summary: The summary highlights your practice and experience in a neat 100-200 word package, giving the firm an overview of your past achievements, and your expectations for your practice over the next few years.The business plan on the other hand, is your opportunity to market your practice and walk the firm through your strategic process to achieving your goals. This is the time to brag about yourself, are you Chambers ranked?Create a blog on your website where you comment on legal issues that are relevant to your clients or the prospects you are targeting.Marketing is not just about finding new clients -- your existing clients can prove a valuable source of additional revenue.As the business grows, the same client may need advice on patent law or mergers and acquisitions.Based in the United Kingdom, Ian Linton has been a professional writer since 1990.

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