Small Law Firm
Business Planning
I was reminded during a recent business planning
session for a KMSManagementSupport member how easily lawyers can become
distracted and waylaid by too much detail in their business planning.
It may be useful to members to see below the very
short document I use to guide the discussions...
N.B. Some readers will note that a
"traditional" SWOT analysis is conspicuous by its absence.
Being alive and in business and having the
opportunity to serve current and future clients is always an opportunity, a
strength and a privilege.
Navel-gazing about perceived weaknesses and threats
is still the waste of time it always has been!
Date: 1 May 2017
Held at: “Knowsley Park”, 1659 Mutton Falls Rd,
O’Connell
Attending: Principals and Rob Knowsley KMS
Theme: Simplicity is the key to
effective business planning.
Where are we right now?
Review key aspects, and record our understandings…
Where to from here?
Record and discuss key elements of Principals’ vision
for the firm…no more than two years hence…
Outcome: Document a simple clear vision we all agree
on…
Set out key objectives in heading towards that
vision…set timing for each one?
Consider if appropriate in our circumstances to put
$$ targets in the plan or not.
Consider key competitors, and any competitive
advantages we have…
Strategies…
Set out key areas…what will our approach be…just a
few key ones…
Choose no more than 3-4 considered vital to the next
twelve months to two years maximum…
Action Plans…3-4 key Action Plans that must be
undertaken/executed accurately to make achievement of our vision most likely in
the time frames set…
Timing…
WHEN? For each of the chosen Action Plans…when will
we do these by?
Who is responsible for each?
Who if anyone is key to assisting the responsible
team member?
Who is responsible for the preparation of the
Business plan and for its implementation and revision in twelve months at the
latest?
Immediate…Who does what now as
a result of today's planning session?
Record, and ensure each person knows exactly what and
when, and agrees they can do it and will do it!
This includes getting the plan formally documented,
distributed and agreed by all... by the agreed deadline.
