Page 63 - Strategic Planning for Law Firms

Review Other Key Documents
Review any other key documents – any other agreements or contracts you have with lawyers, third parties or clients.
Review Financials
Review the firm’s financials and look for patterns over the last five years. You’re looking for the firm’s biggest and most critical clients, your rainmakers, where money is coming from and where it is going, among other things.
Strategic Planning for Law Firms
Drafting the Firm’s Mission Statement
You want to draft the firm’s mission statement. If you already have one, determine whether it remains true and relevant, or whether it needs to be tweaked or completely revised. You may want to review the mission statements of similarly situated law firms for inspiration.
Drafting the Firm’s Vision Statement
As with the mission statement, determine if your vision statement needs tweaking or whether you need to start from scratch. The mission and vision statements are going to drive and direct your strategic planning, so it is important to get them right.
Drafting the Firm’s Values
What are the values and principles that serve as a lodestar for you professionally and for your firm? Include them on your website for the world to see what you stand for, how you practice and how you conduct business.
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SECTION 09 THE PLANNING PROCESS