Business Planning - Is the Juice Worth the Squeeze?

Business planning is something every firm is talking about right now. However, getting partners to engage in business planning can be a significant challenge.

Is the juice worth the squeeze?

When done right, business planning allows firms to identify and capitalize on opportunities to acquire, grow, and retain important clients. It's not just about setting goals; it's about creating a roadmap that aligns every aspect of the firm with its strategic vision.

Tailored Approaches for Different Firm Sizes

Law firms of various sizes approach business planning differently, often based on available resources. Let's explore how firms across the spectrum are leveraging technology to drive their strategic initiatives:

Real-World Planning Approaches

Let's dive into some concrete examples of how firms are applying these technologies:

  • Data-Driven Planning: A large international firm uses Tableau to analyze practice area profitability and client sector growth, informing their annual planning with hard data.

  • Client-Centric Planning: A mid-size firm leverages Net Promoter Score (NPS) data from their CRM to identify areas for service improvement and new offering development.


  • Agile Strategic Planning: A boutique law firm manages quarterly Objectives and Key Results (OKRs) for each practice group using Trello, allowing for frequent reassessment and adaptation.

  • Scenario Planning: An AmLaw 100 firm uses ProfitSolver to model various economic scenarios and their potential impact on different practice areas, preparing for multiple possible futures.


  • Collaborative Planning Processes: A regional firm facilitates virtual strategic planning sessions with partners, associates, and key clients using Microsoft Teams, ensuring diverse perspectives inform their strategy.

Boutique or Specialized Firms

Agility is key for these smaller, focused firms. They often adopt project management tools like Asana or Trello to manage strategic initiatives. Some also leverage niche market intelligence platforms specific to their practice areas.

Regional Firms

Collaboration takes center stage in regional firms' planning processes. Tools like Microsoft Teams or Zoom facilitate inclusive strategy sessions, ensuring a wide range of stakeholders can contribute to the firm's direction.

Large International Firms

AmLaw 100 firms often have the resources to invest in comprehensive business intelligence and strategic planning platforms. They might employ enterprise-level solutions like Elite 3E for financial management or build custom data warehouses for in-depth analytics.

Mid-size National Firms

Client-centric planning is often the focus for these firms. They leverage Customer Relationship Management (CRM) systems like InterAction or Intapp to inform their strategy. Additionally, they might utilize accessible Business Intelligence (BI) tools such as Tableau or Power BI for data analysis.

Tech-Forward Firms

Regardless of size, innovative firms are exploring AI-powered tools for predictive analytics in their planning processes. While specific product names in this space evolve rapidly, the trend towards data-driven decision making is clear.

Contextual Dashboards: Bringing Your Business Plan to Life

One powerful way to make business planning more accessible and actionable is through the creation of contextual dashboards. These dynamic visual tools pull together data from various systems, providing partners with an at-a-glance view of their progress towards strategic targets. By integrating information from multiple sources, these dashboards offer a comprehensive picture of firm and client health:

  • Time and billing systems provide insights into billable hours and productivity

  • Website and blog analytics reveal digital engagement patterns

  • Enterprise Relationship Management (ERM) systems showcase relationship strength and communication patterns

  • Financial systems offer data on client profitability, realization rates, and overall financial health

  • Matter management systems provide updates on case progress and outcomes

  • Human resources systems can track talent utilization and development

  • Market intelligence platforms can feed in industry trends and competitive insights

By aligning these data points with specific goals from the business plan, partners can quickly assess performance, identify areas needing attention, and make data-driven decisions. This real-time visibility not only supports accountability but also allows for agile responses to changing market conditions or client needs.

Key Considerations for Implementation

While these technologies offer powerful capabilities, their effectiveness hinges on thoughtful implementation:

  • Data Quality and Integration: Ensure that data from various systems can be effectively combined and analyzed.

  • User Adoption: Invest in training to encourage consistent use of these tools, especially CRM systems.

  • Customization: Tailor these tools to your firm's specific needs and processes.

  • Change Management: Implement a well-thought-out strategy to manage the significant changes these new technologies often require.

  • Continuous Improvement: Regularly review and refine your planning process and use of these technologies.

The Human Element

It's crucial to remember that while these technologies provide valuable insights and streamline the planning process, they don't replace human judgment and expertise. The most successful firms combine robust data analysis with the experience and intuition of their leaders.

Starting Small: The Key to Success

For firms just beginning their journey into strategic business planning, starting small is key. Begin with a single practice area or a specific client segment. Use readily available tools and data to demonstrate quick wins. As partners see the tangible benefits – such as increased client retention or the identification of new cross-selling opportunities – buy-in for more comprehensive planning efforts will grow.

The Road Ahead

As the legal industry continues to evolve, so too will the technologies that support business planning. By embracing these tools and processes, law firms of all sizes can position themselves to thrive in an increasingly competitive landscape. The journey may be challenging, but the rewards – in terms of client relationships, firm growth, and long-term sustainability – are well worth the effort.

Remember, effective business planning isn't just about predicting the future; it's about creating it. So, take that first step, leverage the right technologies, and start shaping your firm's destiny today.

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