By Failing to Prepare, You Are Preparing to Fail: Building a Vision for Your Law Practice

Benjamin Franklin once said, “By failing to prepare, you are preparing to fail”. Ooph! It may sound harsh, but it rings true, especially in the context of building your law practice.  You’ve set up a beautiful office, assembled a skilled team, and established your processes.  Yet, why does it feel like no one in your firm has direction?  You know you want to achieve more this year. What does “more” mean?  Why is this important to you?  Does your team understand what they are working towards?  Are they inspired?

Creating a power vision statement with a compelling “why” is what you and your team need to be inspired and driven towards your desired future.  A vision statement can be a benchmark, a strategy, or a desired outcome. It should be a future challenge that motivates you and your team while providing clarity and purpose around their goals. When everyone understands the vision and the reasons behind it, they are more likely to feel invested and work collaboratively towards achieving it.

Want to get started? Be sure your team is involved! It’s crucial to have their buy in from the beginning, as it’s easier to get them motivated at the start than trying to push them in a direction later.

Steps to Create a Powerful Vision Statement

1. Think About Your Practice’s Future

• Reflect on what you want your practice to look like in the short and the long term.  What will it look like “when it’s done”?
• Where do you want your office locations, what market will you reach?
• What are your competitive advantages? What makes your firm unique?

2. Define Your Practice’s Core Elements

• Determine the type of practice, products, and services you want to offer
• Envision the company size, revenue goals, and timelines for achieving them

3. Establish Your Team Culture

• Clarify the culture you want to cultivate within your team
• Set clear expectations for your employees

4. Identify Your Ideal Client

• Define who your ideal client is to ensure your services meet their needs
• Develop client avatars to define your marketing focus

5. Make Your Vision SMART 

• Ensure your vision is Specific, Measurable, Actionable, Realistic, and Time-bound

Example of a Vision Statement

Here is an example to inspire you:

In 2025, our goal is to achieve a daily revenue of $3,000, increasing to $4,000 per day in 2026. We plan to operate four days a week and observe Fridays as our non-operational day. By 2027, our vision includes expanding to two attorneys, each generating a minimum of $500,000, supported by a team of four staff members.

Conclusion

Creating a vision statement is not just about setting goals; it’s about providing a clear and inspiring direction for your team. By involving your team members in this process, you ensure they are motivated and aligned with your practice’s future. Remember, preparation is the key to success.  Without a clear vision, your efforts may lack focus and drive. So, take the time to prepare, and you will set your practice on a path to success.

For more information on how to build your law practice, and for more law firm resources, contact us at https://www.aaepa.com/contact/

Carrie Smith
Associate Director of Member Services
American Academy of Estate Planning Attorneys, Inc.
9444 Balboa Avenue, Suite 300
San Diego, California 92123
Phone: (858) 453-2128
www.aaepa.com