If the ingredients are carefully chosen and the right questions are asked, the formulation or drafting of the plan becomes straightforward. The key is to frame objectives which are aligned to give the best chances of future success – marketing, branding and general business development and client-focussed goals, efficiency and business process improvement goals and objectives for skills-building as well as sensible but stretching financial targets.

It is difficult and in some cases impossible to anticipate extreme or asymmetrical events, but the risk of ethical disasters and rogue partners can be reduced by robust systems. In many cases, law firms cannot forecast natural disasters, countries facing sudden political or economic catastrophe, or clients suddenly going out of business. Nick shows how Law firms can reduce their exposure in the case of “accidents waiting to happen” through the building of robust systems, a dedication to the improvement of quality, the reinforcement of a positive and transparent culture and through consistent and watchful leadership..

This Business Planning Toolkit is designed to help practitioners to understand how to draft and implement business plans, including plans for individuals, teams and the firm, and through all stages including securing buy-in and reviewing the plan following initial implementation. The toolkit is written by Nick Jarrett-Kerr with additional case studies by managing partners at three Section member firms.

Many law firms may be considering merger as an option in response to increased competition in the marketplace, but the process is never simple. Nick explains how to assuage partners’ fears and make a merger work for you.

Partner performance management systems attain their sharpest focus in how they cope with the issues of non-performance and under-performance. Nick suggests three essential infrastructure elements which will help firms address this difficult problem area.

The issues of partner performance and rewards are rising on law firm agendas, especially with the impact of new age discrimination legislation. Law firm leaders talk a good game about how the firm ‘rewards what it values, and values what it rewards’ but in reality many firms give scant regard to anything except seniority and billing. Nick suggests ways in which law firms can get the best out of partners across all areas of the firm by setting the right targets and sharing profits based on the achievement of those targets.