The legal profession is becoming an increasingly competitive business in Massachusetts with a growing number of attorneys and population that has either a low growth or is in actual decline. In many ways the practice of law in many practice areas being commoditized resulting in increasing low fees. A financially successful law practice requires more than merely hanging out a shingle, but now requires careful strategic planning to position oneself to gain market share without discounting the value of your services. Creating a business plan allows you to evaluate all facets of your proposed business and thereby create a viable blueprint for success. To determine if you are truly prepared for running a law practice as a business, and your livelihood, draft your business plan looking reality squarely in the eyes.

ARE YOU READY?

Starting a Business in Massachusetts, Questionnaire (MSBDC)

Do You Have What it Takes to be a Sole Practitioner? (Practice Pro)

BUSINESS PLANNING TOOLS

Small Business Online Planner (SBA)

How to Write a Business Plan (SBA)

Boston Public Library Kirstein Business Library & Innovation Center

STARTING A BUSINESS GUIDES

Getting Started in Business (Commonwealth of Massachusetts)

Starting a Business (City of Boston)

Building a Great Business Plan for Your New Law Practice (Shoffner)

FURTHER READING FROM OUR LENDING LIBRARY

The Lawyer’s Guide to Creating a Business Plan: A Step-by-Step Software Package (Linda Pinson, American Bar Association)

Flying Solo: A Survival Guide for the Solo and Small Firm Lawyer 4th ed., ch. 3 (K. William Gibson, American Bar Association)

How to Start & Build a Law Practice 5th ed. p. 49 (Jay Foonberg, American Bar Association)

How to Start and Run a Successful Solo or Small-Firm Practice ch. 6, p. 68 – 85 (Frederick R. Levy, Massachusetts Bar Association)