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10 Steps to Planning Effectively during Economic Distress—Part 2

By Bruce W. Marcus, Contributing Editor

Editor's Note: In part two of this two-part series, Bruce W. Marcus explains the 10 steps firms must follow for effective planning. Read part one to learn how to approach long-term planning.

The steps for the process are:

  1. Plan each of the firm's services or practice groups (e.g. litigation, transactional, real estate, tax, audit cash flow management, etc.) separately. The objective is to maximize the firm's talents, experience, and skills by focusing on the firm's markets for those skills. The future of the firm will ultimately depend upon the sum of all its practices.

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