Presented by: Jared D. Correia, Esq. Law Practice Management Advisor LOMAP Website: Blog: Twitter: Phone: (857)

o Dont Procrastinate o Be Efficient o Stay on Top of Things

o Learn from Lincoln o Would You Advise Your Client Otherwise? o Practicing Law (and Managing a Law Firm) is an Art NOT a Science

o Now... o 55,000 Licensed Attorneys in Massachusetts o 51,000 Active Attorneys in Massachusetts o And in the Future o 86% Bar Exam Pass Rate for July 2008, Including 92% Bar Exam Pass Rate for First Time Test Takers o More Attend Law School Than Ever Before; More Pass Bar Exam Than Ever Before; More Attorneys Than Ever Before

o Business Planning (Very) 101 o Step One: Have One o What to Include o Summary of Practice o Client Services o Administrative Plan o Tied Considerations o Budget and Finance o Marketing Plan o Begin With an Exit Strategy o Living Documents

o Choices o Solo o Partnership o Professional Corporation o C or S Corporation o LLC o LLP o Considerations o Tax Treatment o Liability o Statutory and Regulatory Requirements o Resources o Written Agreements

o Personal Finances o Necessities o Luxuries o Dont Commingle! o Operational Account o Start-Up Costs o Continuing Costs o Research Purchases/Be Smart About What You Buy o Tie to Business Plan o Dont Commingle! PUT ASIDE ONE YEARS WORTH OF FUNDS o IOLTA Accounting o Access Resources for Understanding o Tips: Different Color Checks/Cover Account Charges o Perform Your Reconciliations o Dont Commingle!

o Support System o Can You Afford Live Personnel? o Virtual Alternatives o Dont Do It All, If You Cant Do It All o Your Family o Your Mentor REMEMBER: Every Hour You Spend on Administrative Tasks Is An Hour You Are Not Spending Billing

o What Are You? o What Services Do You Provide? o What Is Your Niche? o What Is Your Specialty? o How to Find Out: Self Evaluation and Market Research o Fake It to Make It o To Whom Is Your Concern o Two Types of Marketing o Direct Client o Referral Marketing o How Do You Reach Your Audience o Networking o Traditional Advertising/Marketing o New Media Advertising/Marketing: The Web and The Web 2.0

o Where Will You Work? o Home Office o Business Office o Virtual Office o Office Share o Hybrid Arrangements o Pros and Cons o Its Up to You

Massachusetts Law Office Management Assistance Program (LOMAP) 31 Milk Street Suite 815 Boston, MA Phone: (857) Toll Free: (888) 54-LOMAP Follow LOMAP: Website: Blog: Twitter: