Startup Law Firm Checklist

Categories: Startup Law Firm Websites.

This checklist is meant to provide an idea of several of the ares that require consideration in a startup law firm.  It is by no means all inclusive, but instead a suggestion of several things to bear in mind and research when creating a startup law firm.  

1: PLANNING & BUDGETING

  • Complete a comprehensive self-assessment about starting a practice
    • Determine your tolerance for risk
    • Assess your managerial skills
    • Assess your marketing skills
  • Write a Business and Marketing Plan
    • Project gross receipts
    • Project overhead and expenses
    • Project net receipts
    • Cash flow projections
    • Project billable and total hours worked
    • Determine marketable experience
    • Set fees to make a profit
    • Develop fee agreements

2: MARKETING PLAN & PRACTICE DEVELOPMENT

  • Identify potential client base
  • Advertising
    • Print ads
    • Website
    • TV, radio, and billboard
  • Office signs
  • Firm brochures
  • Client newsletters
  • Join civic organizations
  • Attend and participate in community seminars
  • Announcements

3: FORMS OF PRACTICE

  • Considerations in selecting firm structure
    • Taxation
    • Liability
    • Succession and/or dissolution
  • Solo practice
  • Partnership
  • Limited liability options
  • Professional corporation
    • Articles of incorporation
    • Shareholders, officers, chief operating officer