What is a business plan and why is it important?Ī law firm business plan is a document that summarizes what you want to achieve and how you’ll run your business. That’s where a business plan for your law firm comes in. What your goals are, how much revenue you’ll need, and why people should choose you over other lawyers are all factors you’ll need to consider when first starting out. While you may already have many exciting ideas in your head (like what you’ll name your firm), it’s important to take a step back and make sure you have a plan so you know where you’re going. A passion for practicing law is essential, but beyond that, you’ll also need to know how to run the business side of your new firm. The first steps of starting your own law firm are crucial.
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