October 22, 2017

5 Components of a Great Business Plan

HYS2015Have you ever wanted to start your own law firm? It can be a great way to practice in the areas you’re especially interested in while controlling your time and caseload. However, many lawyers are unsure about the business side of running a law business. Accounting, personnel issues, technology—there is a lot more to think about than simply your preferred practice area.

Our three-day institute, “Hanging Your Shingle,” can help. Learn about the ins and outs of running a law practice from successful solo and small firm attorneys. Some of the topics to be covered at this year’s institute include “Writing Your Business Plan,” “Trust Account Management and Fee Agreements,” “Marketing and Business Development,” “Technology: Your First Partner,” and more.

Qusair Mohamedbhai and Siddhartha Rathod of Rathod Mohamedbhai LLC will present “Writing Your Business Plan.” These partners know first-hand the keys to succeeding at a small practice, and appreciate the opportunity to share their experience with attorneys just beginning their own firms. Among other topics, they will discuss these five components of a great business plan:

  1. Executive Summary – explains what the firm does, establishes goals, creates a mission statement, and elucidates milestones
  2. General Company Overview – provides a glimpse into what makes your firm unique and offers detailed attorney biographies
  3. Industry Analysis – this is an important part of the business plan that examines area demand and crucial details such as price, location, experience, and competition
  4. Financial Plan – also a very important part of a great business plan, the financial plan sets expense and revenue projections and determines profit margins
  5. Marketing Strategies – marketing is key to continuing your successful business, including referrals, traditional marketing, word of mouth, and more

Listen to Mohamedbhai and Rathod speak at “Hanging Your Shingle” this week. Call us at (303) 860-0608 or click the links below to register.

CLE Program: Hanging Your Shingle

This CLE presentation will take place from Thursday, August 20, 2015 through Saturday, August 22, 2015 at the CLE offices. Click here to register for the live program and click here to register for the webcast..

Can’t make the live program? Order the homestudy here – Video OnDemand – MP3

 

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