“We want to build a business that is sustainable and we want to build a business that can operate independently of you and your brilliance.” – RJon Robins, author of Profit First for Lawyers
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Why Your Law Firm Needs a Plan (and the Math to Back It Up)
If you wouldn’t take a case to trial without a plan, then why would you run your law firm without one?
In this episode, we explore one of the most overlooked (and uncomfortable) topics for law firm owners: your written business plan. Featuring an exclusive audiobook clip from Profit First for Lawyers, RJon explains why a business without a clear plan for generating revenue and profit isn’t really a business at all. It’s just a job.
This is NOT about writing a 40-page document that will gather dust on a shelf. It’s about building a simple and, more importantly, actionable plan that answers the only questions that really matter:
- How much money do you actually want to make?
- What does your firm need to produce to get there?
- And what has to happen in marketing, sales, and production to make it real?
RJon walks through the math step by step, from defining your ideal lifestyle to calculating revenue targets, case volume, and the number of leads your firm needs each month. At the end of the day, your family doesn’t care about your conversion rates or your KPIs. They care about whether your firm can deliver the life you promised them.
Key Takeaways:
- A business plan is not optional. Without one, your firm isn’t a business, it’s a job dependent on you.
- Start with what you WANT, and not what you’ll settle for.
- Reverse engineer your numbers to determine what it costs to support your life.
- Keep it simple and actionable. A business plan only works for you if you use it.
A business plan built on the numbers that matter (and the actions your firm will take) is the difference between owning a business that works for you and owning a job that depends on you. On the surface, they may seem the same, but the ability to truly live the life you want is worlds apart.
Resource: Free Business Plan Workbook
Ready to build your plan?
Scan the QR code or click this link to access your free Business Plan Workbook, which can also be found on page 94 of the Profit First for Lawyers book. Use this step-by-step workbook to create a simple and effective plan for your firm.