The Business plan
Forming Your Business Plan
As an experienced lawyer seeking to move from your current position, a strong business plan shows just how much of an asset you will be to the firm you’re approaching.
Keep it Simple, Keep it Credible
Your business plan doesn’t need to be complex or lengthy – a concise analysis of clients, types of work and fees generated is what the interviewer wants to see. Most law firms will want details of how your client list can be migrated, its fit with their existing business and how it will further the firm’s expansion and development.
Your plan should comprise four sections:
Base – detailing your current situation
Objective – why you’re moving your practice and why it will fit with the recruiting firm
Method – the details of how you’ll migrate your clients
Measurement – your fee predictions in the form of projected turnover
Presentation Factors to Consider
- Be realistic, positive and have all your facts ready
- Don’t be tempted to qualify your facts and figures with caveats
- Make your points unambiguously
- Be clear on how your client base will integrate with the recruiting firm
A detailed guide to formulating a business plan is available here in our Business Plan Tips video.