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6 Bar Bulletin - July 6, 2009 - Volume 48, No. 27
www.nmbar.org
dEvEloping A BusinEss plAn: pArt 3By Donald Becker
A great deal of literature is available for developing a business plan but there are no simple answers. Here are a few general principles. A. A business plan should be in writing. Unless you have it written out, it’s only a dream or a wish. It needs to be clear and simple for everyone in the firm
to understand. Often this comes in the form of a written mission statement with goals and objectives (including action items and time tables). B. The business plan is a management tool. It needs to be used to measure progress. It needs to be considered on a day-to-day basis as you are faced with the urgent need to make a decision. To be implemented, it needs the cooperation and commitment of everyone in the office. C. The business plan needs to begin with an honest inventory. You need to understand the law office’s strengths and weak-nesses. The plan needs to begin with an honest look at what benefit (quality/service) the firm is offering the public. The plan needs to consider the current, if any, client base or pool of potential clients. D. The business plan should set goals and objectives. Generally, these will become apparent after taking an honest inventory of the strengths or special talents the firm has to offer. E. The business plan serves as a road map and guide. The plan provides guidance for making decisions (i.e., which choice helps the firm reach its defined goals and objectives).
KEYSto Law Practice
Management
By Carolyn Ramos, President NMDLA
The board of directors of the New Mexico Defense Lawyers Association is very sad to report that our executive director, Rhonda Hawkins, is very ill and has been
in intensive care for almost two months. Her husband Paul reports that she is in an induced coma for pain control and treatment. We ask that you please keep Rhonda and her family in your daily thoughts and prayers.
We have always known that Rhonda is an integral part of our organization and that it just doesn't function without her. We know this now more than ever as she is unable to run the day-to-day operations of the NMDLA. The board is unified in its commitment to serve its members through this very difficult time but ask for your patience and understanding as we navigate some unchartered waters. The board is currently assessing all outstanding matters and each will be handled as expeditiously as possible. Should you have more specific questions, please do not hesitate to contact me at (505) 884-0777 or [email protected].
If you submitted a nomination for Outstanding Defense Lawyer of the Year or Young Defense Lawyer of the Year, please re-submit it to me at the above e-mail address as soon as possible.
nMdlA dirEctor grAvEly ill
“standing ovation” and high marks on evalu-ations, as can be seen on the foundation’s Web site. Seminars will be held July 17 at the Santa Fe Chamber of Commerce. For more details, visit www.GuardianAngelsFounda-tion.org or call (505) 920-2871.
unmSchool of LawSummer Library HoursBuilding and Circulation Monday–Thursday 8 a.m.–9 p.m. Friday 8 a.m.–6 p.m. Saturday 9 a.m.–6 p.m. Sunday Noon–9 p.m.Reference Monday - Friday 9 a.m.–6 p.m. Saturday Closed Sunday Noon–4 p.m.
8 Bar Bulletin - March 30, 2009 - Volume 48, No. 13
check is also provided. Submit applications to J. Brent Moore, YLD Summer Fellowship Coordinator, Insurance Division, N.M. Public Regulation Commission, PO Box 1269, Santa Fe, NM 87504-1269. Applica-tions must be postmarked by March 31. Direct questions to J. Brent Moore, (505) 827-4645.
oTHer barsAlbuquerque Bar AssociationMembership Lunch and CLE The Albuquerque Bar Association’s membership luncheon will be held at 11:45 a.m., April 7, at the Embassy Suites Hotel, 1000 Woodward Place NE, Albuquerque. The luncheon speaker is Dick Minzner of Rodey Dickason Sloan Akin & Robb PA. Immediately following lunch, Minzner will present an update of the current legislative session from 12:30 to 1:30 p.m. (1.0 general
CLE credit). Lunch only–$25 members/$35 non-members with reservations; lunch/CLE–$55 members/$75 non-members with reservations; CLE only–$30 members/$40 non-members with reservations. Register for lunch by noon, April 3:1. Log on to www.abqbar.com;2. e-mail [email protected];3. fax (505) 842-0287;4. Call (505) 842-1151 or (505) 243-2615;
or5. mail PO Box 40, Albuquerque, NM
87103.
N.M. Lesbian and Gay Lawyers AssociationLGBT Social Gathering The lesbian and gay lawyers, doctors and therapists groups will hold a joint social gathering from 5 to 8 p.m., April 16, at Inn the Village–A Corrales Bed and Breakfast, 58 Perea Rd., Corrales. All are welcome to attend to get acquainted and network. Snacks, soft drinks, and beer and wine will be provided. Guests are asked to
bring additional beverages and an appetizer to share. R.S.V.P. to [email protected].
unmSchool of LawBarrister’s Ball The 14th Annual MALSA Fighting for Justice Banquet will be held April 4 at the Hotel Albuquerque. For more information, contact Silvia Delgado, [email protected] or (575) 571-8337.
Spring Library HoursBuilding and Circulation Monday–Thursday 8 a.m.–11 p.m. Friday 8 a.m.–6 p.m. Saturday 9 a.m.–6 p.m. Sunday Noon–11 p.m.Reference Monday - Friday 9 a.m.–6 p.m. Saturday Closed Sunday Noon–4 p.m.
Developing a Business plan: part 1By Donald Becker
The historically-oriented law firm (i.e., take what has happened in the past and project it into the future without further analysis) is very common. An experienced attorney would quickly advise a client that what happened in the past can be irrelevant to what will happen in the future. An attorney would encourage a client to carefully examine both the business as well as the business environment, not just the historical data.
Consider SWOT (Strengths and Weaknesses within the firm; Opportunities and Threats within the business environment). An attorney will encourage the client who is thinking of investing in a business to look for hidden problems and to examine changes carefully for hidden problems. The client might be advised to have an independent expert analyze, evaluate, and provide a written report with recommendations for the future of the business. Yet many law firms refuse to seek outside assistance and continue to make ad hoc management decisions.
In every plan there should be goals and objectives. Further, as much as possible should be quantified so that progress can be mea-sured. Attorneys are aware that the “billable hour” has been used to quantify the services being sold to a client. With the strict use of “billable hours” to measure or quantify so as to determine compensation, the attorney is going to be rewarded or punished based upon ability to measure rather than value to the client or value to the firm.
If the firm only relies on quantified data, then no matter how important a factor may be to the firm or client, if a benefit or service cannot be quantified, then there will be a disincentive for providing that important benefit or service. An attorney would caution a client about over reliance on numbers. The client might be reminded of a quote famously attributed to Mark Twain (among others) to the effect that there are “lies, damn lies, and statistics.”
Numbers are objective and simple. While nice and neat, they can be irrelevant. They can result in counter-productive activities. Can a firm plan for the future and monitor performance without statistics? How can a law firm convert a nice looking budget or plan into an active management tool?
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Management
www.nmbar.org
6 Bar Bulletin - May 4, 2009 - Volume 48, No. 18
Call for noMinaTions
sTaTe bar of new MexiCo 2009 annual awards
The State Bar of New Mexico’s Annual Awards recognize those who have distinguished themselves or who have made exemplary contributions to the State Bar or legal profession in 2008 or 2009.
Send a letter of nomination for each nominee to: Joe Conte, Executive Director, State Bar of New Mexico
PO Box 92860, Albuquerque, NM 87199-2860Fax:(505)828-3765orE-mail:[email protected]
deadline for noMinaTions is May 15
The purpose of the Client Protec-tion Fund is to promote public confi-dence in the administration of justice and the integrity of the legal profession by reimbursing losses caused by the dishonest conduct of lawyers admit-ted and licensed to practice law in the courts of New Mexico. The fund has paid out $88,177.98 in claims in 2008. For more informa-tion and to view the 2008 Client Protection Fund Annual Report visit www.nmbar.org.
oTher newsCancer Services of New MexicoVolunteer Attorneys Needed Cancer Services of New Mexico, a non-profit organization, is seeking attorneys to help staff its Legal, Insurance, Paperwork Assistance (LIPA) clinics. Conducted on the first and third Thursdays of the month from 6 to 8:30 p.m., the clinics offer free assistance to cancer patients/survivors or their family members. Teams of three vol-unteers with expertise in the law, insurance, or financial issues meet with individuals to offer suggestions and advice concern-ing advanced directives, wills, insurance billing, financial distress, and other issues. Prospective volunteers are asked to staff one clinic per month. Prior to meeting with clients, volunteers attend a two-to-three-hour training session where they will receive more detailed information on the program and have the opportunity to learn from the experience of current volunteers. Thanks to supporters, this program is provided at no cost to clients and is made possible by Blue Cross & Blue Shield of New Mexico, MGI Pharma, and the Mc-Cune Charitable Foundation. Contact Stephanie Michnovicz, (505) 999-9764 or [email protected].
Developing a Business plan: part 2By Donald Becker
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Management
Planning is a process, not a product. It is never ending. The plan is always changing. What’s important is the substance, not the form. It can be formal or informal. It can be detailed or not. It’s never complete. It’s best if it is written, but the map is not the road. Implementation of the plan is what matters. Lawyers are selling their lives, one minute at a time. While developing a business plan is valuable, recognize that for the individual it should be more. There should be a professional plan, a family plan, and a life plan. All these inter-related “plans” reflect your priorities and you just know that you will have to make choices. Realize and appreciate that you are making choices. Be aware of the short-term versus long-term consequences. When do you want to trade a case or a billable hour for your child’s soccer game? Mission statements are helpful. The mission statement helps the firm pursue its objectives and goals. A well thought-out, clear and concise mission statement will provide important guidance in making daily decisions. Questions or problems can be analyzed in terms of whether or not they help the firm pursue its mission. The individual attorney may want a “personal creed” as a set of guiding principles so that within the firm’s mission, the attorney can take into consideration the objectives and goals contained in his or her personal and life plans. Think in terms of a “base line” to use in making day-to-day decisions. The firm needs the base line for its professional/business decisions; the individual attorney needs a life base line to keep life in a healthy balance. Do I take this case or not? Do I make this purchase? How do I take a vacation for recreation? The starting place is right now. You’ve heard it before—today is the first day of the rest of your life. A journey of one thousand miles begins with a single step. You’re going somewhere with your life/profession. Do you, or do you not, care? A candid self-inventory might be a good starting place. One form of evaluation is described as a SWOT analysis: “strength” and “weaknesses” (which tend to be internal) and “opportunity” and “threats” (which tend to be external). One aspect can be all four items. Weaknesses may be our strengths taken to excess. Change is the constant. Making a candid assessment and getting honest feedback are the challenges. The Law Practice Management Committee Web site has additional information for those interested.
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