Law firm

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A law firm is a business entity formed by one or morelaw yers to engage in the practice of law.
The primary service provided by a law firm is to advisecl ients (individuals orcorporations)
about their legalrights andresponsib ilities, and to represent their clients inciv il orcri minal
cases, business transactions and other matters in which legal assistance is sought.

Professional Immigration & Business Law Firm in

Houston, TX
Welcome to The Solomon Law Firm
Whether you’re a small business owner, an officer or general counsel at a large corporation, or an individual seeking legal advice, a competent and ethical attorney can provide
you with the counsel and confidence you need to make informed decisions and gain priceless peace of mind.

At The Solomon Law Firm, we provide high-caliber immigration law, business planning, and business litigation services to individuals and commercial
clients of all sizes and specialties.

Immigration Law
Whether your goal is to obtain a fiancee or marriage visa, to adjust status and obtain a green card, renew or replace a lost green card, obtain an investor visa or
work visa, or gain citizenship, we can help you. At The Solomon Law Firm, our experienced immigration attorneys can simplify the process—and give you peace of mind—
with comprehensive, competent guidance. We’ll help you identify and overcome obstacles, pinpoint opportunities, stay compliant with all regulations, and complete all required
documentation for the United States Citizenship and Immigration Service.

Our immigration law services can save you time, money, and hassle.

Business Law
Problems? We can help you. Small and medium-sized businesses face big challenges. In spite of limited budgets, they still need reliable, effective representation to protect
their reputations, assets, employees, and best interests. The Solomon Law Firm provides professional counsel to businesses of all sizes and specialties, from small, family-owned
companies to very large corporations. From formation to dissolution, business planning and contracts, and mergers and acquisitions to sale of your business, we have
the expertise to help. Similarly, when there are problems, whether they are from shareholder or business disputes, business litigation, audits by federal or state agencies,
or employment claims, our business attorneys have the experience and competence to help you achieve a favorable outcome.

Our business law services can help you achieve a favorable outcome.

Why Choose The Solomon Law Firm?

• Experience and Relationships: After more than 25 years serving the Houston community, Texas immigration and business attorney Lee Solomon has built a
large network of legal, financial, and business professionals. As a client, you’ll benefit from this broad spectrum of resources, receiving rich insights into
immigration and business issues.

• Value: At The Solomon Law Firm, we believe all individuals and companies deserve to receive high-quality representation without the prohibitive cost. Instead of
using rigid fee scales, we offer flexible, customized payment terms tailored to the needs of our individual and corporate clients.

• Technology: Using the latest legal technologies and resources, our business and immigration attorneys can instantly access the latest forms and cases, as well as
connect with industry experts, allowing us to provide you with fast, reliable service.
 Wo
rking Hard Each Day for Your
Business Immigration Needs
Global Business Immigration Lawyers
Representing Employers and Business Organizations and
Immigrants Worldwide
The world has become and it continues to become a more global
marketplace. With the fluidity of migration, companies continue to
seek top talent from around the world to stay ahead of their
competitors. Countries around the world continue to write their
immigration laws to attract the "best and the brightest" workers.

We are engaged in a struggle to attract the best and the brightest

to add value to our Nation's economic infrastructure and to assure
future stability of our financial markets. At Nachman & Associates,
P.C., we assist organizations of all sizes to be a part of this success
story.

To schedule a consultation, please feel free to contact Nachman &

Associates by e-mail or call 1-866-599-3625
begin_of_the_skype_highlighting 1-866-599-3625 end_
of_the_skype_highlighting.

From our numerous office locations, Nachman & Associates,

concentrates on working with Fortune 500 companies, academic and
non-academic organizations, universities, for-profit and not-for-
profit clients to help them acquire the highly-skilled foreign national
professional workers they need. Our immigration attorneys are
accomplished at helping professionals relocate throughout the
world.

Nachman & Associates: Global Immigration Attorneys

Call Toll Free: 1-866-599-3625
begin_of_the_skype_highlighting 1-866-599-3625
end_of_the_skype_highlighting
Immigration Attorney David Nachman has been recognized as a
New Jersey Super Lawyer for three years running and he is listed in
the International Who's Who among the Best Corporate and
Business Immigration Lawyers in the World. Mr. Nachman was also
named by the New Jersey Law Journal as one of the top "40 under
40" Attorneys in the State of New Jersey. Mr. Nachman holds a
Master's of Business Administration Degree and has been practicing
Business and Corporate Immigration Law for well over a decade and
a half.

Dedicated to Supporting Employers and Employees

Since 1993, our attorneys have provided comprehensive
immigration legal support to employers and employees. We work to
clearly explain complex immigration law processes to employers and
to employees throughout the U.S. and, more recently, to business
managers and employees throughout the world.

Our lawyers have been known to travel to clients' offices to conduct

onsite Business Immigration Law Training and to assist employers
and employees and to understand such complex immigration law
issues as the PERM process, the manner in which to sponsor
outstanding research professionals for permanent residence or
"green cards", employment verification and I-9 Form compliance,
and prevailing wage and public access file compliance in connection
with the H-1B nonimmigrant visa.

After employees obtain work visas or work permits in the U.S., we

provide them with additional practical assistance with regard to their
relocation. We offer services to help them obtain a driver's license,
personal and/or automobile insurance and with such other requests
as settling their children in the local school system or with regard to
ways to quickly integrate family members into the local
communities.

It is clearly the case that international transfers cannot be

successful unless the members of the family are happy and
integrated into their new lifestyle. We are responsive to the
requests of our clients and we return our calls within 24 and 48
hours.
We assist employers from for-profit and not-for-profit organizations
and foreign national individuals with nonimmigrant visas, temporary
work visas, work permits, family-based immigration, naturalization,
citizenship and employment verification compliance (I-9 Forms).

Nachman & Associates is the recipient of a Federal Grant from the

U.S. Department of Justice, Office of Special Counsel for Unfair
Immigration-related Employment Practices to train employers
throughout the State of New Jersey (onsite) and throughout the
Country (by WEBINAR) about their employment eligibility
verification obligations and about employer sanctions. The Firm also
works with representatives of the U.S. Department of Homeland
Security to train employers about IMAGE, E-Verify and Social
Security No-Match Letter Compliance Issues.

Creative Solutions to Complex Problems

When traditional immigration approaches do not work, we analyze a
candidate's resume and determine if they may qualify for various
nonimmigrant or temporary work permits or permanent immigrant
visa transfer options such as outstanding researcher classification,
TN under NAFTA or E-3 classification for Australia. Now that the H-
1B nonimmigrant visa has become more difficult to obtain, we work
closely with our clients who are seeking to transfer highly-skilled
foreign national workers to the U.S. to determine if there are other
nonimmigrant options for such transfers. No matter what the
situation, our attorneys work hard to provide a variety of visa
options to support their needs.

Contact Us
Our staff of immigration law professionals are sensitive to the needs
of our clients and the members of their families. Many members of
our staff are themselves foreign born and have family and/or friends
who have gone through the immigration process. As a result, our
staff of business immigration law professionals have a personal and
unique approach to processing visas and for dealing with our foreign
national clientele. Our legal team can clearly explain how to process
temporary and permanent work permits in the U.S. The PERM Labor
Certification Process is time-consuming and complex and our staff of
business immigration law professionals can clearly explain the
 process in Spanish, French, Japanese, Korean, Tamil, Hindi, Slovak,
Czech, Russian, Chinese, German and English.

To schedule a consultation, please feel free to contact Nachman &

Associates by e-mail or call 1-866-599-3625
begin_of_the_skype_highlighting 1-866-599-3625 end_
of_the_skype_highlighting.

Check the status of your case with the U.S. Department of

Homeland Security, Citizenship and Immigration Services
("USCIS").
Subscribe to one or all of our monthly business immigration
newsletters. Due to popular demand we provide four (4) Business
Immigration Newsletters: (1) The Canadian Business Immigration
Law Newsletter; and (2) The U.S. Immigration Fundamentals
Newsletter; and (3) GLOBAL MOBILITY NEWSLETTER: The Insider's
Guide to Outbound Immigration Law; and (4) Our Monthly Update
About U.S. Business Immigration Law for Human Resources
Professionals.
Law Firm Overview

The Solomon Law Firm, P.C. offers comprehensive business planning, immigration law, labor & employment law, and business and immigration litigation services including:

Immigration and Nationality Law, Business Law, Business Litigation, Labor and Employment Law, Civil Litigation and Appeals, Visas including Employment Visas, Fiancee Visas,
Family Visas and Marriage Visas, Green Cards, Citizenship, Naturalization, PERM Labor Certification, Corporate Law, Purchase or Dissolution of a Business, Contracts, Mediation
and Arbitration, Severance Agreements, Wage and Hour Claims, Restrictive Covenants, Training and Employee Manuals, Employment Agreements, Drafting and Auditing of
Policies and Procedures, Mediation, Arbitration, Alternative Dispute Resolution.

After years of service as a partner in major law firms and as general counsel, board member and CEO to public and private companies, Attorney Lee Solomon established his
Houston law firm to organize and apply his comprehensive model for business planning, immigration law, labor & employment, and litigation. The foundation of his practice has
been to envision a way to create ongoing, long-term relationships with his clients in order to define clear goals and build a solid business plan that provides safe harbor during
uncertain times and a solid footing for future growth. A skilled negotiator, Mr. Solomon always seeks to pursue the most advantageous and cost-effective resolution for business
disputes, whether through mediation and arbitration or at trial. He is, however, an aggressive litigator and trial attorney who will relentlessly protect his client’s legal rights in the
courtroom when a negotiated settlement is unavailable.

The attorneys and paralegals who work with The Solomon Law Firm, P.C. are skilled practitioners with many years of experience.

Clients of The Solomon Law Firm, P.C. are located in and are from countries all over the world.

Year this Office was Established: 2004

Practice Areas

• Alternative Dispute Resolution

• Arbitration

• Asset Protection

• Business & Industry

• Business Formation

• Business Law

• Business Litigation

• Civil Litigation

• Commercial Law

• Commercial Litigation

• Contracts

• Corporate Governance

• Corporate Law

• Corporate Litigation

• Employment

• Finance

• FLSA Overtime Claim

• Franchising

• Green Cards

• Immigration
• Joint Ventures

• Litigation

• Mediation

• Mergers & Acquisitions

• Naturalization & Citizenship

• Securities

• Shareholders Rights

• Trade

• Unfair Competition

• Visa

• Work Permit

The Solomon Law Firm, P.C. provides legal representation and services in the following areas of practice:

- Business Law

Business law attorney Lee Solomon of the Houston business law firm The Solomon Law Firm, P.C. combines a remarkable blend of practical business experience and legal insight
for executive management of Texas businesses and corporations across the country who need legal help in Texas. A focus on the clear definition of business goals coupled with
strategies to minimize risk makes The Solomon Law Firm, P.C. an ideal choice for private and publicly-held businesses nationwide at all stages of growth. The Solomon Law Firm,
P.C. offers a pro-active, preventative business law practice that stresses a long-term, close relationship with clients to better predict potential pitfalls and overcome difficult
business problems.

- Immigration Law

Immigration law is complex, confusing and constantly changing. Unless you are aware of the potential opportunities and pitfalls in the law, dealing with the United States
Citizenship and Immigration Service (USCIS) can be a long, frustrating process. Applications are routinely denied for minor errors or omissions in the large amount of required
paperwork. This is why so many people rely upon the services of a skilled immigration law attorney.

- Business Litigation

Commercial litigation attorneys at The Solomon Law Firm, P.C. in Houston are equipped to successfully address all business disputes that may arise during the start-up and
operation of businesses large and small across Texas. The founder of the firm is an experienced trial attorney at all levels of the state and Federal courts. The Solomon Law Firm,
P.C. is a strong advocate for planning and avoidance, offering sound business consulting services to review policies, procedures and agreements in order to identify and correct
potential disputes before they develop into costly litigation. When litigation becomes necessary after all reasonable methods of resolution have been exhausted, The Solomon Law
Firm, P.C. offers an aggressive and confident litigation capability that has won the respect of attorneys and clients who have witnessed the trial skills that it brings to the
courtroom.

- Labor and Employment Law

Attorney Lee Solomon and other attorneys of the Houston business law firm The Solomon Law Firm, P.C. represent companies, executives and other individuals (both plaintiff and
defendant) in labor issues and employment disputes in Houston and throughout Texas:

* Discrimination (age / race / sex / religion / national origin)

* Harassment
* Wrongful Termination / Discharge
* Severance Agreements
* Whistle Blower / Retaliation / Qui Tam Lawsuits (Federal Whistleblower)
* Wage & Hour Claims
* Restrictive Covenants
* Training & Employee Manuals
* Employment Agreements
* Regulatory Compliance
* Drafting & Auditing of policies and procedures

- Buying and Selling Businesses

Buying or selling a business requires due diligence and personal attention. At the Solomon Law Firm, P.C., in Houston, Texas, the review and preparation of buy-sell agreements
is not delegated to associate attorneys, as would be the case in many large firms. Instead, senior attorneys at The Solomon Law Firm, P.C. personally prepare and review every
contract for the sale or purchase of a business.

- Civil Litigation and Appeals

The civil litigation lawyers at the Solomon Law Firm, P.C. have represented clients in a broad range of civil litigation and appeals cases, including, for example, breach of contract,
breach of fiduciary duty, intellectual property, fraud, and deceptive trade practices. The firm is committed to providing personal attention, professional representation, and sound
advice to clients throughout every stage of a civil matter, from the initial filing through discovery, trial, and appeal, if necessary. The firms' attorneys know that trials focus on
oral advocacy, whereas appeals rely more heavily on research and writing proficiency. The firms' lawyers are skilled in all areas, as attested by their record of success.

- Corporation Formation

If you are planning to start or expand a business, your first consideration is often the choice of appropriate legal form. Different business forms offer differing tax and liability
features. When evaluating the varying choices of business entity, you need experienced legal counsel to protect your interests.

- Business Formation

The Solomon Law Firm, P.C., in Houston, Texas, advises clients on the legal issues surrounding formation of all types of business entities, including corporations (C and S
corporations), limited liability companies (LLCs), limited liability partnerships (LLPs), general partnerships, limited partnerships, and sole proprietorships. Attorneys at The
Solomon Law Firm, P.C. advise clients regarding the requirements for doing business in Texas. They review, prepare, and file all documents necessary to establish a business in
good standing under state business laws.

- Employee Relationship

The Houston employment law attorneys at the business law firm The Solomon Law Firm, P.C. represent companies, executives and other individuals (both plaintiffs and
defendants) in labor issues and employment disputes throughout Texas. As the former managing partner and department head of the Houston office of a large law firm, and now
Managing Director of The Solomon Law Firm, P.C., Lee Solomon realizes the importance of preparation when litigating corporate employment matters. Other employment lawyers
in the firm share the same view.

- Employer Relationship

The Solomon Law Firm, P.C. represents companies, executives, and individuals (both plaintiffs and defendants) in employment disputes and regulatory compliance issues in
Houston and throughout Texas. Lee Solomon and the other lawyers at The Solomon Law Firm, P.C., work closely with clients to provide a blend of personal attention and
professional representation uncommon in law firms. Our attorneys handle a wide range of employer-related business disputes, from severance agreements to ERISA matters. The
firms experienced employment lawyers also draft company training and employee manuals as well as audit policies and procedures. In addition, we provide on-site corporate
training to aid in the enforcement of corporate policies and procedures.

Additional Practice Areas: Severance Packages; Wage / Hour Disputes, Restrictive Covenants; Detention Bond Hearings; PERM Labor Certification; Regulatory Compliance;
Training and Employee Manuals; Employment Agreements; Drafting and Auditing of Policies and Procedures; Employment

1.1 Objectives
The objectives for WLF for the first three years of operation include:
1. To create a law firm whose primary goal is to exceed customer's expectations.

2. To develop a client list that includes at least 20 companies, each with revenues of over $3 million.

3. To increase the ability to serve public interest organizations each year.

4. To be able to offer each year some legal services at a subsidized rate.

1.2 Mission
The mission of Wy'East Law Firm is to provide the Portland community with technological and public interest legal guidance. We exist to attract and maintain customers and to support
the public interest community. When we adhere to this maxim, everything else will fall into place.

Read more: http://www.bplans.com/law_firm_business_plan/executive_summary_fc.cfm#ixzz14CKV70EM

Services
WLF will provide provide law services to two different groups of customers.

1. Technology law services. WLF will provide legal services to high technology clients, to both start-up companies and established firms. While the firm excels in mergers,
acquisitions, and qualified stock option plans, we also have experience in almost any legal field that a tech firm encounters. These clients, billed at market rate, will subsidize the
public interest clients.

2. Public interest law. WLF will serve regional public interest organizations, with a concentration on environmental and civil rights organizations. For most public interest
organizations, good legal help is expensive. By using technology clients to subsidize the cost of legal fees for public interest firms, WLF is able to make significant contributions
back to the community.

Read more: http://www.bplans.com/law_firm_business_plan/services_fc.php#ixzz14CKqN8il

Market Analysis Summary

WLF's customers can be divided into two groups, technology firms and public interest organizations.

1. Technology firms. New clients are likely to be from small technology firms or start-up companies. The reason for this is that the larger tech firms usually will go with one of the
larger law firms in town because a large firm can offer them a wide range of services and do all of the different types of work that is needed. This type of customer sees an
advantage for one firm handling all of their needs, and rightfully so. A smaller company has fewer overall legal needs and can be serviced by a boutique firm. A start-up might also
be attracted to us because of our willingness to accept equity as partial payment for services rendered. Clients that were brought over to WLF from Richard's old firm are typically
small firms, but there are a few larger companies that are using this firm for some services and kept some other work at (name omitted), where Richard practiced before.

2. Public interest organizations. These clients will be diversified, some are environmental organizations others are civil rights groups. While some public interest organizations
receive their legal services for free (pro bono) from some attorneys, there is an extreme shortage of legal help for these organizations. Therefore, it is quite attractive to these
organizations to have the possibility of receiving top legal help at a subsidized rate. Attracting these clients will not be the problem, the difficulty will be for Richard to select which
organization will receive his help.

Read more: http://www.bplans.com/law_firm_business_plan/market_analysis_summary_fc.php#ixzz14CL27Tao

4.1 Target Market Segment Strategy

WLF will be targeting high technology companies for two reasons.

1. Although the economy has taken a recent plummet, particularly technology firms, technology is still a growing sector of the economy. This is evidenced by the fact that 17 out of the
top 25 fastest growing companies are technology firms, according to The Business Journal of Portland.

2. Technology is Richard's area of expertise. Richard practiced law at one of the top three law firms in Portland and was in their e-group, concentrating on technology firms. His
experience, coupled with his network of colleagues within the industry, makes technology firms attractive customers.

WLF will be targeting public interest organizations for one simple reason, a desire to give back to the community. Public interest work is inherently altruistic to some degree. Generally,
the person performing the work receives a good feeling for his/her contribution, but in today's capitalistic society, someone who donates his/her time at far below market wages should be
considered altruistic.

4.2 Service Business Analysis

The technology law practice is fairly competitive in Portland. Most larger, more prestigious firms have attorneys who specialize in technology. Some smaller firms also have
attorneys who do work for technology companies. Lastly, there are boutique firms, like WLF. As a service-based industry, the practice of law is driven by personal relationships and
reputation. Potential clients choose attorneys based on reputation and who they are familiar with or are recommended to. Therefore, if the attorney is providing better service to a client,
the client is likely to form a long lasting business relationship with the client.

Clients typically switch attorneys only if they are unhappy with their current attorney. New companies find attorneys through networking: who they know or who their friends know.

WLF has the advantage that when Richard left (name omitted) he brought 15 of his clients, which, for now, are almost enough to survive on.

Read more: http://www.bplans.com/law_firm_business_plan/market_analysis_summary_fc.php#4.1_Target_Market_Segment_Strategy#ixzz14CLAke1T

4.2 Service Business Analysis

The technology law practice is fairly competitive in Portland. Most larger, more prestigious firms have attorneys who specialize in technology. Some smaller firms also have
attorneys who do work for technology companies. Lastly, there are boutique firms, like WLF. As a service-based industry, the practice of law is driven by personal relationships and
reputation. Potential clients choose attorneys based on reputation and who they are familiar with or are recommended to. Therefore, if the attorney is providing better service to a client,
the client is likely to form a long lasting business relationship with the client.

Clients typically switch attorneys only if they are unhappy with their current attorney. New companies find attorneys through networking: who they know or who their friends know.

WLF has the advantage that when Richard left (name omitted) he brought 15 of his clients, which, for now, are almost enough to survive on.

Read more: http://www.bplans.com/law_firm_business_plan/market_analysis_summary_fc.php#4.2_Service_Business_Analysis#ixzz14CLXCpsg

Strategy and Implementation Summary

WLF will be courting new technology clients through networking and advertisements in the Yellow
Pages, Business Journal of Portland, and other technology specific regional journals. As stated
earlier, WLF has a sufficient amount of business at day one, however, more technology clients means
the ability to perform more public interest work.

Richard will be attending the Portland Venture Group meetings as well as other informal gatherings of
technology companies to network with the different technology firms in the region. These networking
activities along with advertisements in appropriate media forms will allow WLF to steadily grow their
list of clients.

5.1 Competitive Edge

WLF's competitive advantage will be based on two factors, experience and specialization:

1. Experience. Richard brings to WLF three years of practicing technology law at a top firm in
Portland. Reputation carries a lot of weight and Richard's time at (name omitted) means a lot in
the Portland legal community and is very attractive to prospective clients. Additionally, beyond
the reputation of working for a coveted firm, is the fact that the three years spent at (name
omitted) provided Richard with big name clients.

2. Specialization. As a boutique firm that concentrates on technology companies, WLF is in a

desirable situation because it's knowledge base is considerable, relative to other firms that
practice a wide range of law.
5.2 Sales Strategy
WLF's sales strategy will begin with months two through five with the goal of serving the existing
customer base of clients. The absence of bringing in new clients during this time is purposeful, it
allows WLF and the existing clients to form a new relationship at WLF, different from their previous
relationship at (name omitted).

Month six will signal WLF's conscious effort to generate new clients. Using the previously mentioned
networking techniques, Richard, through personal communications, will convince prospective clients
of the value of a boutique technology law firm, specifically the depth of knowledge and the close
attention that the client will get when dealing with a small firm.

Regarding the public interest organizations, there will be less of a sale strategy, more of a choosing of
the organizations that Richard wants to represent. There are so many needy public interest
organizations that Richard will have to pick and choose those that he wishes to help out.

5.2.1 Sales Forecast

The first month will be spent setting up the home office. This will include setting up the office, a
conference room, and all of the computer equipment. During the first month, Richard will also be
serving some existing technology clients and some public interest clients. We project that if we spend
1/3 of our time on the technology clients, this would sufficiently subsidize the public interest clients so
we would only have to cover overhead expenses.

By month six, Richard will begin actively soliciting new clients. Between months one and five he will
continue networking, though will not be actively seeking customers. From month seven on and there
will be a slight increase in clients taken aboard. There will be only a slight increase so as to
create solid relationships with the new and existing clients. Richard will be cognizant of the possibility
of growing too fast and not being able to offer the same quality service to his clients.
Sales Forecast

Year 1 Year 2 Year 3

Sales

Technology companies $174,096 $189,525 $195,747

Public Interest organizations $16,839 $22,578 $24,547

Total Sales $190,935 $212,103 $220,294

Direct Cost of Sales Year 1 Year 2 Year 3

Technology companies $0 $0 $0

Public Interest organizations $0 $0 $0

Subtotal Direct Cost of Sales $0 $0 $0

5.3 Milestones
WLF will have several milestones early on:

1. Business plan completion.

2. Set up home office.
3. First month of total technology subsidy.

Milestones

Milestone Start Date End Date Budget Manager Department

Business plan completion 1/1/2001 1/1/2001 $0 Richard Marketing

Set up ofifce 1/1/2001 1/1/2001 $0 Richard Department

First month of total

4/1/2001 4/1/2001 $0 WLF Department
technology subsidy

Totals $0

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Management Summary
Wy'East Law Firm is an Oregon Corporation founded and run by Richard Bloom. Richard has a
degree in Political Science from the University of Colorado, Boulder, and a J.D. from Lewis and Clark
University. While at Lewis and Clark, Richard was the President of the school's Public Interest
Student Organization. It was through this organization that Richard became fond of public interest law.
After graduation, Richard went to work for (name omitted) for three years in the e-group which
concentrated on technology. While working in the e-group, Richard worked on technology issues with
a number of well known start-up organizations and established companies.

One of the perks working at (name omitted) was his ability to do pro bono work which counted toward
his required yearly billable hours requirement. Richard has spent a fair amount of time with 1000
Friends of Oregon and other public interest organizations. After three years however, Richard was
feeling constrained and desired more autonomy. He decided to leave and start his own firm. Richard
was able to bring a fair number of his clients from (name omitted) to his new firm, helping the
transition from leaving an established practice to hanging out his own shingle and starting over.

6.1 Personnel Plan

The staff will consist of Richard working full time. In addition to Richard, a part-time secretary and
part-time paralegal will join WLF by month two. Month four will bring WLF a law clerk, and a second
law clerk by month eight.

Personnel Plan

Year 1 Year 2 Year 3

Richard $66,000 $66,000 $66,000

Receptionist/ secretary $11,550 $12,500 $13,500

Paralegal $22,000 $23,000 $24,000

Law clerk $8,100 $11,000 $12,000

Law clerk $4,500 $11,000 $12,000

Total People 5 5 5

Total Payroll $112,150 $123,500 $127,500

Read more: http://www.bplans.com/law_firm_business_plan/management_summary_fc.php#ixzz14CMOKYZ2

Page 1 2 3 4 5 6 7 8
Financial Plan
The following sections will outline important financial information.

7.1 Important Assumptions

The following table details important assumptions.
General Assumptions

Year 1 Year 2 Year 3

Plan Month 1 2 3

Current Interest Rate 10.00% 10.00% 10.00%

Long-term Interest Rate 10.00% 10.00% 10.00%

Tax Rate 25.42% 25.00% 25.42%

Other 0 0 0

7.2 Projected Profit and Loss

The following table and charts present the projected profit and loss.
Pro Forma Profit and Loss

Year 1 Year 2 Year 3

Sales $190,935 $212,103 $220,294

Direct Cost of Sales $0 $0 $0

Other $0 $0 $0

Total Cost of Sales $0 $0 $0

Gross Margin $190,935 $212,103 $220,294

Gross Margin % 100.00% 100.00% 100.00%

Expenses

Payroll $112,150 $123,500 $127,500

Sales and Marketing and Other Expenses $2,160 $2,160 $2,160

Depreciation $1,668 $1,666 $1,666

Leased Equipment $0 $0 $0

Utilities $1,500 $1,500 $1,500

Rent $2,400 $2,400 $2,400

Payroll Taxes $16,823 $18,525 $19,125

Other $0 $0 $0

Total Operating Expenses $136,701 $149,751 $154,351

Profit Before Interest and Taxes $54,235 $62,352 $65,943

EBITDA $55,903 $64,018 $67,609

Interest Expense $0 $0 $0

Taxes Incurred $13,210 $15,588 $16,761

Net Profit $41,024 $46,764 $49,182

Net Profit/Sales 21.49% 22.05% 22.33%

7.3 Break-even Analysis

The Break-even Analysis indicates what WLF will need in hours and revenue a month to reach the
break-even point.
Break-even Analysis

Monthly Revenue Break-even $11,392

Assumptions:

Average Percent Variable Cost 0%

Estimated Monthly Fixed Cost $11,392

7.4 Projected Cash Flow

The following chart and table show anticipated cash flow.

Pro Forma Cash Flow

Year 1 Year 2 Year 3

Cash Received
Cash from Operations

Cash Sales $47,734 $53,026 $55,074

Cash from Receivables $112,707 $155,697 $163,912

Subtotal Cash from Operations $160,441 $208,722 $218,986

Additional Cash Received

Sales Tax, VAT, HST/GST Received $0 $0 $0

New Current Borrowing $0 $0 $0

New Other Liabilities (interest-free) $0 $0 $0

New Long-term Liabilities $0 $0 $0

Sales of Other Current Assets $0 $0 $0

Sales of Long-term Assets $0 $0 $0

New Investment Received $0 $0 $0

Subtotal Cash Received $160,441 $208,722 $218,986

Expenditures Year 1 Year 2 Year 3

Expenditures from Operations

Cash Spending $112,150 $123,500 $127,500

Bill Payments $31,394 $41,570 $41,800

Subtotal Spent on Operations $143,544 $165,070 $169,300

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out $0 $0 $0

Principal Repayment of Current Borrowing $0 $0 $0

Other Liabilities Principal Repayment $0 $0 $0

Long-term Liabilities Principal Repayment $0 $0 $0

Purchase Other Current Assets $0 $0 $0

Purchase Long-term Assets $0 $0 $0

Dividends $0 $0 $0

Subtotal Cash Spent $143,544 $165,070 $169,300

Net Cash Flow $16,898 $43,652 $49,686

Cash Balance $35,648 $79,300 $128,986

7.5 Projected Balance Sheet

The following table displays the projected balance sheet.

Pro Forma Balance Sheet

 Year 1 Year 2 Year 3

Assets

Current Assets

Cash $35,648 $79,300 $128,986

Accounts Receivable $30,494 $33,874 $35,183

Other Current Assets $0 $0 $0

Total Current Assets $66,141 $113,174 $164,168

Long-term Assets

Long-term Assets $5,000 $5,000 $5,000

Accumulated Depreciation $1,668 $3,334 $5,000

Total Long-term Assets $3,332 $1,666 $0

Total Assets $69,473 $114,840 $164,168

Liabilities and Capital Year 1 Year 2 Year 3

Current Liabilities

Accounts Payable $4,699 $3,302 $3,448

 Current Borrowing $0 $0 $0

Other Current Liabilities $0 $0 $0

Subtotal Current Liabilities $4,699 $3,302 $3,448

Long-term Liabilities $0 $0 $0

Total Liabilities $4,699 $3,302 $3,448

Paid-in Capital $25,000 $25,000 $25,000

Retained Earnings ($1,250) $39,774 $86,538

Earnings $41,024 $46,764 $49,182

Total Capital $64,774 $111,538 $160,721

Total Liabilities and Capital $69,473 $114,840 $164,168

Net Worth $64,774 $111,538 $160,721

Read more: http://www.bplans.com/law_firm_business_plan/financial_plan_fc.php#ixzz14CMuXFq3

Session 2 of 16

Business Plan

• What is a Business Plan?

○ Why prepare a business plan?
○ What to avoid in your business plan
• Business Plan Format
○ Vision statement
○ The people
 ○ Business profile
○ Economic assessment
• Six Steps to a Great Business Plan
○ Basic business concept
○ Feasibility and specifics
○ Focus and refine concept
○ Outline the specifics of your business
○ Put your plan into a compelling form
○ Review sample plans
• Does Your Plan Include the Following Necessary Factors
○ A sound business concept
○ Understanding your market
○ Healthy, growing and stable industry
○ Capable management
○ Able financial control
○ Consistent business focus
○ Mindset to anticipate change
○ Plans for online business
• Formulate (and Reformulate) Your Business Plan
• Top Ten Do's and Don'ts
• Sound Byte Transcriptions
• Sample Business Plans
• Session 1 and 2 Business Plans
• Session Feedback

What Is A Business Plan?

Read Transcript The primary value of your business plan will be to create a written outline that evaluates all aspects of the economic viability of your business venture including a description and analysis of your business prospects.
Since the My Own Business, Inc. course is broken down into sixteen of the most important topics to consider in starting or operating a business, your business plan can easily be organized into this same format. Included in this session, and in each of the following
sessions, there is one-page business plan template, which you can fill in and print. (Session 2 contains templates for both Sessions 1 and 2.) When you put these all together, you will have completed your personalized, overall plan.

We suggest that you fill in each section of the business plan, found at the end of each session, as you proceed through
the course.

Each of the sixteen Business Plan Sections can be downloaded from our Web site and provide you with a single, attractively presented document. To begin, let's take a preview look at each of the 16 Business Plan Sections:

Click to view each of the 16 business plan sections

Keep in mind that creating a business plan is an essential step for any prudent entrepreneur to take, regardless of the size of the business. This step is too often skipped, but we have made it easy for you by providing this ready format to build your plan as you
progress through this course.

Business plans can vary enormously. Libraries and bookstores have books devoted to business plan formats. This course is a starting point. You can then go on to design one that would be ideal for your particular enterprise.

Be aware now that most start-up entrepreneurs are reluctant to write down their business plan. It is, therefore, strongly
recommended that you complete each segment of the plan as you progress through this course. We make it easy for you by
providing sample plans for both product and service businesses and also an attractive blank form that you can download onto MS
Word and customize yourself.

Your business plan will become your roadmap to chart the course of your business. But at the outset you cannot predict all of changing conditions that will surface. So after you have opened for business, it is important that you periodically review and update you
plan.

Why Prepare A Business Plan?

Read Transcript
Your business plan is going to be useful in a number of ways

• First and foremost, it will define and focus your objective using appropriate information and analysis.
• You can use it as a selling tool in dealing with important relationships including your lenders, investors and banks.
• Your business plan can uncover omissions and/or weaknesses in your planning process.
• You can use the plan to solicit opinions and advice from people, including those in your intended field of business, who will
freely give you invaluable advice. Too often, entrepreneurs forge ahead ("My Way!") without the benefit of input from
experts who could save them a great deal of wear and tear. "My Way" is a great song, but in practice can result in
unnecessary hardships.

To help get started in lining up appointments, you can fill in and use the following template. We have also
provided a larger blank template for you to use at the end of this session.

Names include your investors, family members, banker, lawyer, attorney, business mentors, trusted business friends, potential customers, competitors (distant ones), potential landlords, and the U.S. Small Business
Administration.

Click to View

Read Transcript
What to Avoid in Your Business Plan

Place some reasonable limits on long-term, future projections. (Long-term means over one year.) Better to stick with short-term objectives and modify the plan as your business progresses. Too often, long-range planning becomes meaningless because the reality of
your business can be different from your initial concept.

Avoid optimism. In fact, to offset optimism, be extremely conservative in predicting capital requirements, timelines, sales and profits. Few business plans correctly anticipate how much money and time will be required.

Do not ignore spelling out what your strategies will be in the event of business adversities.

Use simple language in explaining the issues. Make it easy to read and understand.

Don't depend entirely on the uniqueness of your business or even a patented invention. Success comes to those who start businesses with great economics and not necessarily great inventions.

Business Plan Format

Read Transcript
The Business Plan format is a systematic assessment of all the factors critical to your business purpose and goals.

Here are some suggested topics you can tailor into your plan:
 • A Vision Statement: This will be a concise outline of your business purpose and goals.

• The People: By far, the most important ingredient for your success will be yourself. Focus on how your prior experiences
will be applicable to your new business. Prepare a résumé of yourself and one for each person who will be involved with
you in starting the business. Be factual and avoid hype. This part of your Business Plan will be read very carefully by those
with whom you will be having relationships, including lenders, investors and vendors. Templates for preparing résumés are
available in your library, Kinko's, bookstores and the Internet under "résumés."
However, you cannot be someone who you are not. If you lack the ability to perform a key function, include this in your business
plan. For example, if you lack the ability to train staff, include an explanation how you will compensate for this deficiency. You could
add a partner to your plan (discussed in Section 4) or plan to hire key people who will provide skills you don't have. Include
biographies of all your intended management.
 • Your Business Profile: Define and describe your intended business and exactly how you
plan to go about it. Try to stay focused on the specialized market you intend to serve.
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• Economic Assessment: Provide a complete assessment of the economic environment in
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which your business will become a part. Explain how your business will be appropriate for
the regulatory agencies and demographics with which you will be dealing. If appropriate,
provide demographic studies and traffic flow data normally available from local planning
departments.
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• Cash flow assessment: Include a one-year cash flow that will incorporate your capital you
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• Refer to helpful government Web sites such as the Small Business Administration. See Read
"Resources" on the home page of this Web site.
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Start-up entrepreneurs often have difficulty writing out business plans. This discipline is going to help you in many ways so don't skip this planning tool! To make it easier, here are six steps that will 1,535 Mac - aif
produce a worthwhile plan:

1. Write out your basic business concept. 192KB Real - rm

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2. Gather all the data you can on the feasibility and the specifics of your business concept.
3. Focus and refine your concept based on the data you have compiled.
4. Outline the specifics of your business. Using a "what, where, why, how" approach might
be useful.
5. Put your plan into a compelling form so that it will not only give you insights and focus
but, at the same time, will become a valuable tool in dealing with business relationships that
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will be very important to you.
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6. Review the sample plans we furnish and download the blank format to a MS Word Mexican Food
document. Fill this in as you progress though the course.

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doing well, consider
Does Your Plan Include the Following Necessary Factors buying the property if it is
possible."
• A Sound Business Concept: The single most common mistake made by entrepreneurs is
not selecting the right business initially. The best way to learn about your prospective
business is to work for someone else in that business before beginning your own. There can Read
be a huge gap between your concept of a fine business and reality.
• Understanding of Your Market: A good way to test your understanding is to test market 709 PC - wav
your product or service before your start. You think you have a great kite that will capture the
imagination of kite fliers throughout the world? Then craft some of them and try selling them
first. 709 Mac - aif
• A Healthy, Growing and Stable Industry: Remember that some of the great inventions of
all time, like airplanes and cars, did not result in economic benefit for many of those who
tried to exploit these great advances. For example, the cumulative earnings of all airlines 553KB Real - rm
since Wilber Wright flew that first plane are less than zero. (Airline losses have been greater
than their profits.) Success comes to those who find businesses with great economics and
not necessarily great inventions or advances to mankind.
• Capable Management: Look for people you like and admire, who have good ethical values,
have complementary skills and are smarter than you. Plan to hire people who have the skills
that you lack. Define your unique ability and seek out others who turn your weaknesses into
strengths.
• Able Financial Control: You will learn later the importance of becoming qualified in
accounting, computer software and cash flow management. Most entrepreneurs do not