Game Plan Before Business Plan

Of course, it has been weeks since my last post!  A goal of daily posting (really what was I thinking!), turned into a weekly goal (possibly doable, if my work world wasn’t in the middle of being turned upside down), transformed into three weeks!  Seriously, where does the time go?  Part of the problem is I had it in my mind that I need to write a novel every post; when really I need to just keep the energy and focus going. So, if I did not think I had a lot to say, I would just push it for another day.

Work really has changed- a lot- and just over the past 3 months.  I have had 4 bosses in about 3 months.  If that does not meet the definition of “a lot” then I don’t know what does.  With everything going on, I told myself I had to get out of the office at lunch, and that would be my time to write or research. There are not too many places in a rural area with free wi-fi that I could bring my own lunch to.  Remember now, I am supposed to be frugal and saving my pennies for my law practice.  And of course there are the days like today where lunch was not even a possibility.  Three weeks it is then.

Where am I at today?  I need a game plan.  Several of the books and legal bar practice sites seem to lay out some general questions I should be asking myself.  I found a decent set of beginning questions within a great article on point by Robin Kravitz, Esq.  It can be found on the NYC Bar Association website here:

 “Before developing a plan for a lawyer, answer the following:

  • Identify your practice niche(s)
  • What skills and experience you bring to your practice
  • What legal structure to use: sole proprietorship, PC, partnership, LLP, etc.
  • What clients you currently have and might potentially acquire
  • What clients you want
  • What business and social contacts you have
  • What other attorneys you can call upon to fill in practice gaps
  • How your firm’s records will be kept
  • What equipment and supplies will be needed
  • What library and other information sources will be needed
  • What insurance will be needed
  • What other resources will be needed
  • How you will compensate yourself
  • Review your current finances re assets, current cash flow, expenses
  • What financing may be needed
  • What financial assets do you have
  • What banking accounts will be needed
  • Review your current non non-financial resources
  • Identify your market
  • Describe your startup plans
  • Where will your office be located
  • What will the name of your firm be.”

So, my goal for the next week is to sit down and start to answer at least half of this starter list.  I am leaving for a quick conference out of state this weekend, and it looks like there will be plenty of airport time without my children.  I think this is doable.  I would outright say the whole list, but I need to set some realistic expectations.  And well, I also need to practice this marvel concept of under promising and over delivering that I hear so many solos talk about.  With that, I will leave one more quick quote from Atty. Kravitz’s article on business plans for lawyers:

You’re no longer thinking about starting a business, you’re now in the process of starting a business.”

Cheers!

NMH