Step 1: Business development planning—internal and external analysis
Produced in partnership with Kim Tasso of RedStarKim Ltd
Step 1: Business development planning—internal and external analysis

The following Practice Management practice note Produced in partnership with Kim Tasso of RedStarKim Ltd provides comprehensive and up to date legal information covering:

  • Step 1: Business development planning—internal and external analysis
  • Six steps to producing a business development plan
  • Why conduct analysis?
  • Insufficient data
  • Internal analysis of your firm
  • Analysing your firm’s financial results
  • Analysing your firm's clients and referrers
  • Analysing your firm’s legal services
  • Business development resources and activities
  • External market analysis
  • More...

Six steps to producing a business development plan

You can follow this basic strategic process to produce a business development and marketing plan:

StepActivityPractice NotePrecedents
1: AnalysisUndertake analysis to understand where you are nowBusiness development planning–undertaking internal and external analysisInternal business development analysis—short-form
Internal business development analysis—long-form
External business development market analysis—long-form
Business development skills assessment
2: Set goalsBe clear on where you want to beBusiness development goal and objective settingBusiness development aims, goals and objectives
3: Formulate a strategyThink about how will you get to where you want to beDeveloping a business development and marketing strategyBusiness development and marketing strategy planning
4: Preparing business development activitiesIdentify what campaigns or activities are neededPreparing business development and marketing campaigns and activitiesBusiness development and marketing campaign and content planning
5: Resource planningAssess how much time and money you will need to investManaging business development and marketing resourcesMarketing and business development cash and time budget precedent
6. Create a business development and marketing planConsolidate the information gathered in steps 1—5 into a plan that sets out what you are doing, why and how you are going to achieve the goals and objectivesCreating a business development and marketing planShort-form business development and marketing plan
Detailed business development and marketing plan

This Practice Note explains Step 1, ie how to undertake internal and external analysis to ensure your business development and

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