The description of your practice expands on the description in the Executive Summary. Don’t hesitate to include everything you can think of to help clarify what your firm is all about. Evaluate strengths and weaknesses as well. This will help as you develop your goals and assess your market, competition and prospective clients.
It’s also important to remember that some of the people reading your plan may not have the high level of expertise – and technical vocabulary – that you do.
Write it so that a potential investor with no in-depth understanding of the law will be able to understand exactly what your practice is all about. If you need to use technical terms, be sure to define them.
This holds true for your entire business plan. If your readers have trouble understanding your practice because they have trouble understanding the language you’ve used, you reduce the chance of having it accepted by those involved in implementing it.
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