Partnership Business Plan Development
Moving up the ladder in a law firm will require you to create a business plan in justification of your salary expectations. The high equality of this plan is especially important if you are going for a promotion or trying to appeal to a new firm.
To be successful it is crucial to map out clearly what you expect to achieve, including information about the clients you expect to retain, the type of work that will be undertaken and how much in fees you expect to generate, to help convince a new employer to invest in you.
If you are looking to move to a new firm and need help preparing your business plan, Interlink Talent Solutions’ Consultants have unrivalled experience in the legal sector and will work with you to capture your goals, ambitions and strategies in order to make your dreams a reality.
To find out more about how we can help with your business plan development, get in touch with our team of specialists today for a confidential discussion.
Developing a business plan
Creating a business plan is not an abstract exercise as its purpose is to take your career to the next level, so getting it right is vital for your career ambitions. We have helped many Partners and other Senior Solicitors develop business plans that have allowed them to reach their goals.
We believe that a successful business plan, that aims to achieve a move between law firms, needs to incorporate eight key elements:
- A personal profile - including an overview of your career to date, particular achievements, financials and your current hourly rate
- Detail on the market you are targeting - identify the opportunities you are going after, including clients and/or referrers
- Demonstration of your understanding of the market - including key players/competitors, trends, challenges and any genuine opportunities
- Details of your particular proposition - set out exactly what you are proposing and how you are going to achieve it
- Your plans for business development - including any work-in-progress cases that might come with you and work referral sources with details on frequency and value of work
- Cross-referral opportunities that you bring to a new firm - outline any cross-referral opportunities you have recognised that could be exploited when you are hired
- Your support requirements - detail anything you will need to execute your plan successfully, for instance, your intention to bring team members with you
- A financial forecast - set out the forecasted revenue for the first three years and include details on any approximate costs that the firm will need to incur, along with your expected remuneration
How Interlink Talent Solutions Can Help
We follow a well-defined process to make sure that your business plan contains everything you need to achieve your goals. We will meet you to complete a detailed analysis of your practice, covering key questions such as:
- Can you summarise what you will bring to a firm, in a few sentences?
- Where does your business come from? Is it diverse? Are you relying on one or two key clients?
- What new clients have you established a profitable relationship with?
- What do you charge clients? Is this palatable to a new firm?
- Have your clients generated fees for other departments?
- Would you want to bring key Partners and Associates with you?
- What issues could arise if you were to move firms?
The analysis of your current business - in particular, how portable will elements be - will form the core of your business plan and will likely come under the most scrutiny, so it is important to express certainty.
Thanks to our close connections with decision makers among leading law firms both in the UK and globally, we can also help you ensure that your business plan will complement the target law firm’s strategy.
Why Interlink?
As the legal recruitment agency of choice for many Senior Lawyers and Partners across the country, you can rest assured that we have your best interests at heart. Here are just some of the reasons why legal professionals at the highest level choose to work with us:
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Well connected
We have good connections to law firm decision makers, meaning we know of law firm growth strategies before others on the market, helping you to stay one step ahead of the competition.
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Complete confidentiality
We understand, after doing some due diligence, that the right option might not be there for you, meaning a move may not materialise. However, we will act with the utmost discretion throughout the process to protect your current position.
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Attentiveness
We truly take the time to understand your motivations, ambitions and personal preferences, so we can match you with the most suitable firm and working culture. You tell us what you’re looking for, and we’ll make sure you’re in the best possible position.
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Unrivalled drive and ambition
While working with incredible drive and ambition, we are also sincere. Nothing is more important to us than finding the right Partner role by helping you to craft a business plan that encourages investment in you.
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