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?
BUSINESS PLANNING TOOLS
STARTING A BUSINESS GUIDES
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)