Strategic Planning for Law Firms:
Reviewing strategic business plan for law firm growth
A Practical Guide to Sustainable Growth
If you want to improve the business side of your law firm, it starts with strengthening core business skills in a way that’s intentional and effective. Strategy is at the heart of this—because sustainable growth doesn’t happen by accident.
In this series, I’ve emphasized that a clear, actionable strategic plan is one of the most important tools law firm owners can invest in. Law firms face a competitive and constantly evolving landscape. Without a strategy, it’s easy to end up in reactive mode—chasing problems instead of building toward long-term success.
And here’s the thing: most lawyers already have the raw materials to be great strategic thinkers. Legal training sharpens reasoning, logic, and analysis—all key ingredients for effective planning. But many small firm leaders are, understandably, more focused on casework than company-building. Strategic planning just hasn’t been part of the day-to-day.
That’s where I come in. You don’t need an MBA to run a successful law firm. You just need the right structure—and a willingness to treat your firm like the business it is.
Set the Right Goals at the Right Time
🔹 Step 1: What does your firm need in the next 90 days?
This is where you get practical. Focus on the short-term drivers:
What revenue do I need to bring in to stay operational?
What expenses are coming up?
How do I ensure I can pay myself a consistent salary?
This is about immediate cash flow. It’s the foundation of your business health—and most firms understand this part. But many stop here, and that’s where growth stalls.
🔹 Step 2: What do you want to accomplish in the next 6–12 months?
This is where you start thinking about expansion. Ask yourself:
Where are the untapped opportunities in my network or niche?
What business development initiatives can I test this year?
Which new clients, industries, or referral sources should I pursue?
Maybe it’s targeting a new vertical, attending industry-specific events, or increasing visibility in a focused way. The key is to set SMART goals—specific, measurable, attainable, relevant, and time-bound.
Examples:
“Make 5 new referral connections per month.”
“Attend one industry event every 30 days.”
“Launch one new practice area campaign by Q3.”
🔹 Step 3: Where do you want your firm to be in 3+ years?
Long-term planning means asking harder questions:
What legal industry trends could shape the future of your practice?
Are you positioned for the next wave of demand?
Is there a specialization or service model shift you should prepare for?
Maybe you anticipate increased litigation in emerging areas like opioids, data privacy, or employment law. Or perhaps your current niche is maturing—like asbestos litigation—and now is the time to go deeper into a sub-specialty.
Long-term goals often require model-breaking thinking. What would it look like to evolve your business model to meet future client needs and improve profitability? What are you willing to risk in pursuit of long-term differentiation?
Be Honest—and Stay Objective
No matter what stage of planning you're in, honesty is your best strategy tool.
What isn’t working?
What’s underperforming?
Where are your blind spots?
You don’t have to be perfect at everything. You just have to be willing to look clearly at the business, get the right support, and start taking action.
Final Thoughts: Your Business Growth Is Personal
You are your business. When your firm grows, you grow. And when you make better business decisions, you create more space for fulfillment—not just in your work, but in your life.
The business side of your legal practice doesn’t have to feel overwhelming. It just needs a clear plan, a realistic process, and a little consistency.
