In “Your Ideal Law Firm – Article #1” we discussed the benefits of visualizing and documenting your legal business “when it’s done”. Now that you’ve documented the story of your law firm it’s time to complete your strategic plan:
1. Identify Your Values
Individualize and articulate the cultural and strategic values that will act as moral and strategic compasses to guide your practice.
2. Define Your Mission
Clearly define the mission of your legal business. This will define how you do what you do. Document your Mission Statement and communicate effectively. Share with all stakeholders.
3. Document Your Organization
Create an organizational picture of the future of your legal business. Organize your business around functions, not personalities then fill in names to understand your current layout.
4. Set Your Goals
Clearly define where your practice is today, and then set and document goals for where you want it to be within a defined period of time. I suggest 1 year or less. Make sure your goals will move you towards your ideal vision and are SMART:
• S – Specific
• M – Measureable
• A – Aligned With Your Values
• R – Realistic
• T – Time Bounded
5. Create the Roadmap for Achieving Your Goals
• Identify obstacles, constraints and limitations that you will have to overcome to achieve your goals.
• Identify knowledge, information and skills that you will need to acquire.
• Identify the people whose help and cooperation you will need.
• Make a list of everything you will need to do to achieve your goal.
• Organize your list into a plan.
• Select your number 1, most important task for each day.
• Never give up!
6. Define Your KRIs and KPIs
Identify the Key Results Indicators and Key Performance Indicators (metrics) that demonstrate the performance of your business and create a “Dashboard of Success”.
7. Perform a SWOT Analysis
Analyze Strengths, Weaknesses, Opportunities and Threats across all areas of your practice and make strategic decisions based on these findings. Integrate your findings into your roadmap for achieving your goals.
You are now ready to start executing the plan that will help you achieve your goals and ultimately move you in the direction of your “final vision” or story of your legal business. Time to roll your sleeves up and get to work executing the plan to build “Your Ideal Law Firm”!
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