As an independent consultant, Ashu Bhandari helps entrepreneurs start their businesses. Ahsu Bhandari, who never charges for his services, supported Erika Kellerhals in the founding of Kellerhals Ferguson Fletcher Kroblin LLP.
When an attorney starts a new practice, he or she assumes many more responsibilities than the simple providence of high-quality legal services. The founder of a new practice becomes an administrator, and with that job comes hundreds of additional work hours per year in addition to the person’s practice of law. This includes staffing, accounting, and the development of a foundational business plan.
A new law practice’s business plan must include a delineation of expenses as well as an estimate of the number of necessary billable hours to generate revenue. This revenue generally comes after a thorough market analysis and the implementation plan for generating income. For most firms, income generation depends on many hours’ investment in marketing efforts. Marketing should focus on the firm’s intended area of focus, in which the firm founder should have an extremely thorough grounding. Recommendations are key to the growth of a new firm, so delivering results for clients plays the biggest part in driving early and continuing success.