Do I Really Even Need a Business Plan?

Yesterday, my colleague Jamie Bailey, encouraged partners contemplating a move to draft a business plan. The most common response I get when I suggest the same is–“Do I really need a business plan?” The answer is an unequivocal yes!

Some things to keep in mind:

1. A business plan can be even more important than a CV/Resume. No one ever puts up a fight when asked to draft a resume. We all assume it’s a mandatory part of the job search process. However, when I utter the words “business plan,” it’s quite a different story. Ironically, I can think of more than a handful of firms where a copy of a partner’s law firm bio will suffice in lieu of a formal resume. I can’t think of a single firm that would turn down the opportunity to review a partner’s business plan. For an established partner with significant portable business, a business plan lends immediate credibility to the nature of the portable business. For an up-and-coming partner with little to no business, a business plan is the best way to sell a prospective employer on your potential. In either case, a business plan can be even more important than having a detailed resume.
2. A business plan does not give away all your secrets. One of the most common objections I get to the idea of drafting a business plan is–“I don’t want to share confidential information that the firm can then use to its advantage.” But keep in mind–a business plan does not have to give away all of your secrets. With careful drafting and a well-reasoned approach as to what will be included in the business plan, you can definitely convey the necessary facts without spilling your secrets.
3. What does a business plan say about you? It tells the prospective firm a number of essential facts: (1) that you understand the economical/business aspects of practicing law; (2) that if the firm hires you, you are going there to be a productive, contributing member of the firm; (3) that you have given thought to your practice and how it fits in with the firm’s existing practice; (4) that you are confident enough in your skills and abilities to give them a snapshot of what you have to offer; and (5) that you care about where you end up.

Once candidates get over the initial reluctance, they tend to find the exercise of drafting a business plan incredibly helpful. Often times, drafting a business plan goes a long way towards solidfying what you are looking for in your job search and it helps you prepare to advocate for yourself during the interview phase. There really isn’t a downside and, in the end, is really is quite painless!
About Harrison Barnes

Harrison Barnes is a prominent figure in the legal placement industry, known for his expertise in attorney placements and his extensive knowledge of the legal profession.

With over 25 years of experience, he has established himself as a leading voice in the field and has helped thousands of lawyers and law students find their ideal career paths.

Barnes is a former federal law clerk and associate at Quinn Emanuel and a graduate of the University of Chicago College and the University of Virginia Law School. He was a Rhodes Scholar Finalist at the University of Chicago and a member of the University of Virginia Law Review. Early in his legal career, he enrolled in Stanford Business School but dropped out because he missed legal recruiting too much.

Barnes' approach to the legal industry is rooted in his commitment to helping lawyers achieve their full potential. He believes that the key to success in the legal profession is to be proactive, persistent, and disciplined in one's approach to work and life. He encourages lawyers to take ownership of their careers and to focus on developing their skills and expertise in a way that aligns with their passions and interests.

One of how Barnes provides support to lawyers is through his writing. On his blog, HarrisonBarnes.com, and BCGSearch.com, he regularly shares his insights and advice on a range of topics related to the legal profession. Through his writing, he aims to empower lawyers to control their careers and make informed decisions about their professional development.

One of Barnes's fundamental philosophies in his writing is the importance of networking. He believes that networking is a critical component of career success and that it is essential for lawyers to establish relationships with others in their field. He encourages lawyers to attend events, join organizations, and connect with others in the legal community to build their professional networks.

Another central theme in Barnes' writing is the importance of personal and professional development. He believes that lawyers should continuously strive to improve themselves and develop their skills to succeed in their careers. He encourages lawyers to pursue ongoing education and training actively, read widely, and seek new opportunities for growth and development.

In addition to his work in the legal industry, Barnes is also a fitness and lifestyle enthusiast. He sees fitness and wellness as integral to his personal and professional development and encourages others to adopt a similar mindset. He starts his day at 4:00 am and dedicates several daily hours to running, weightlifting, and pursuing spiritual disciplines.

Finally, Barnes is a strong advocate for community service and giving back. He volunteers for the University of Chicago, where he is the former area chair of Los Angeles for the University of Chicago Admissions Office. He also serves as the President of the Young Presidents Organization's Century City Los Angeles Chapter, where he works to support and connect young business leaders.

In conclusion, Harrison Barnes is a visionary legal industry leader committed to helping lawyers achieve their full potential. Through his work at BCG Attorney Search, writing, and community involvement, he empowers lawyers to take control of their careers, develop their skills continuously, and lead fulfilling and successful lives. His philosophy of being proactive, persistent, and disciplined, combined with his focus on personal and professional development, makes him a valuable resource for anyone looking to succeed in the legal profession.

About BCG Attorney Search

BCG Attorney Search matches attorneys and law firms with unparalleled expertise and drive, while achieving results. Known globally for its success in locating and placing attorneys in law firms of all sizes, BCG Attorney Search has placed thousands of attorneys in law firms in thousands of different law firms around the country. Unlike other legal placement firms, BCG Attorney Search brings massive resources of over 150 employees to its placement efforts locating positions and opportunities its competitors simply cannot. Every legal recruiter at BCG Attorney Search is a former successful attorney who attended a top law school, worked in top law firms and brought massive drive and commitment to their work. BCG Attorney Search legal recruiters take your legal career seriously and understand attorneys. For more information, please visit www.BCGSearch.com.