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March 2013 Archives

March 19, 2013

Tips for Developing a Business Plan


Key Tips for Developing Business Plans for Entrepreneurs,
Investors & Business Owners

By Ian Scott, Esq.

For every Business Owner, Investor & Entrepreneur, the thought of putting together a business plan is very daunting but is often a necessary evil for those who want to succeed. One great reason for a business plan is that it just makes good business sense as without one you, may miss a chance to effectively communicate your ideas to someone else or even to clarify things for yourself. While for some a business plans may be optional, it is often a requirement for many. This is especially the case if you are a business owner trying to get a loan from a bank, trying to attract investors, trying to sell an idea, or even if you want to get certain Immigration Visas.

There are a few popular Immigration Visas where you are required to put together a comprehensive business plan and the E-2 Treaty Investor Visa and the EB-5 Visa ("Million Dollar Visa") are good examples. Both Visas are granted (or denied) primarily based on your business plan and the plan is not something that you can gloss over. For more information on the E-2 Visa click here. For more information on the EB-5 Visa click here.

So what should be present in a Business Plan? Here are six things you should include and consider when developing a Business Plan.

1. Keep It Simple
Simple does not mean short but rather that the plan should be easy to understand. This is particularly the case if your idea or business is complicated. While you may understand the jargon related to your industry, immigration officials, banks and/or investors may not. As such you want to keep the document easy to understand.

2. Ensure Your Business Plan Is Organized, Flows & Keeps Your Reader Reading
In many cases, your business plan is going to be one of the primary documents that an investor, bank or immigration official looks at to decide whether they are going to invest, give you the loan or whether your E-2 Visa or EB-5 Visa is going to be granted. Most humans have very short attention spans so you should ensure that your business plan is well organized and has a flow that will keep readers reading.

After you have given some thought to how you want the document organized, use illustrative heading and subheadings so that a reader can easily jump to a section that interests them. Do not make the mistake of thinking that everyone is going to read every page of your business plan. Instead, they will focus on what interests them. A good suggestion is to start with an outline of what you want the business plan to look like and then start filling in the sections. You should also consider a table of contents depending on the length of the plan. Always have in mind what the bank, investor or person approving your E-2 or EB-5 Immigration Visa will focus on and want to see.

3. Make Sure The Business Plan Contains All of the Key Components
Any good business plan is going to be a combination of financial data and text narrative. There should be a good balance of both, as you do not know in advance whether or not your reader is a numbers or words person. Most business plans have financial data for at least 5 years and you should ensure that any relevant data is properly cross-referenced to your narrative. Where possible you should try to include summary charts in your narrative section to drive home and illustrate main points. Here is an example of some sections to include:

A Description of Your Business: Include a short description of your business with a brief history of the business and its ownership structure by focusing on, who you are, what you do, & where you are going.
Mission Statement: Lay the groundwork for your 'brand' by describing what your company will be to its customers or clients & what you want to be remembered by.
Goals or Milestones: Make a list of five or so long-term goals.
Market Analysis and Research: You must always be able to explain; what you know about your industry, what you know about your competition, who is you target market, & what obstacles will you have reaching them.
Why Are You Different: You should describe in detail what makes your product or service unique in the market.
Personnel Plan: Describe who your staff will be and include descriptions of key personnel and special skills.
Other Sections as Relevant: Business Plans are not a one size fits all proposition. Consider what makes sense in your business plan given your goals and add sections accordingly.
A Detailed & Comprehensive Financial Plan: This is a Must even if you do not like numbers! You should also note that the financial plan will take up a significant number of pages in your plan (over half). Tailor the financial data part of your plan to your needs but most plans include the following information

• Start-up costs
• Revenue projections with comprehensive assumptions
• Expense projections with comprehensive assumptions
• Five-year cash-flow projections
• Five-year balance sheet projections
• Sources of Capital
• Other data as need

4. Focus on Your Executive Summary
While some will read your plan quite closely, others will JUST focus on the Executive Summary. This page should be the last thing you write and you should spend almost as much time on this page as you do on the rest of the business plan. The Executive Summary should never be more than 2 pages and you should strive for one page. Just remember it is a concise summary of the whole plan so you should not be reinventing the wheel OR including too much information. I reiterate that you should Spend a Significant Amount of Time on Your Executive Summary. It is an extremely important part of your document.

5. Get Someone To Review Your Plan
There are two great reasons to seek help and get someone to review your plan.

1. An independent person can tell you if your plan would encourage them to invest in your company.
2. A business plan is often a long document and the developer is often very close to the detail. As such, an independent review can add some perspective and also will catch some typos and other errors.

6. Contact Scott Legal Services, P.C. for All of Your Entrepreneur, Investor & Business
Owner Needs

Scott Legal Services, P.C. is the law firm for Entrepreneurs, Business owners and Investors and we can help you with the development of your business plan, your related immigration petition, or the effective and profitable management of your business. Our Founder, Ian E. Scott, is both a Corporate Lawyer and a C.P.A. so who better to guide you through the complex world of Business Plans. Call today for a free consultation.
Let Scott Legal Services, P.C. be your guide and please contact Scott Legal Services, P.C. at 1-212-223-2964 or email us at iscott@legalservicesincorporated.com.

Ian E. Scott is a Lawyer and a Harvard Law School Graduate. Mr. Scott worked as a corporate litigator in the law firm Cleary Gottlieb and has recently opened his own law firm Scott Legal Services, P.C.. You can contact Mr. Scott at iscott@legalservicesincorporated.com or 212-223-2964.

March 11, 2013

Upcoming Lawyers In Transition Events


Alternative Careers for Lawyers
Wednesday, March 20 | 12:00 p.m. - 2:00 p.m.
Panel/Webcast
Herrick Feinstein, 2 Park Abe, New York, NY
Speakers:
Seth Finkel, Managing Director, Neuberger Berman Wealth Management
Sonia Bonsu, Director of Annual Giving, The Calhoun School
Stephanie Biderman, Managing Director, Major Lindsay & Africa
Sara Rakita, Associate Director, NYU Public Interest Law Center; former Consultant, the Ford Foundation, and Researcher, Human Rights Watch
Hillary Mantis, Moderator, Author of Alternative Careers for Lawyers
Panelists will explore alternative careers for lawyers and will provide helpful tips to assist you in your job search

Understanding Your Insurance Options
April 3 | 8:30-10am
LIT Breakfast Series
USI Affinity, 261 Madison Ave, New York, NY
Speaker:
Mike Mooney, Vice President, Bar Association Programs
NYSBA offers many malpractice and health insurance options. We will discuss what options are available and answer questions to help NYSBA members to determine the types and amounts of insurance needed or desired.

Understanding Your Insurance Options
April 8 | 8:30-10am
LIT Breakfast Series
NYSBA, One Elk Street, Albany, NY
Speaker:
Mike Mooney, Vice President, Bar Association Programs
NYSBA offers many malpractice and health insurance options. We will discuss what options are available and answer questions to help NYSBA members to determine the types and amounts of insurance needed or desired.

Life as an In-House Lawyer
April 18 | 12-2pm
Panel/Webcast
Anchin Block & Anchin, 1375 Broadway (enter on 37th Street between Broadway and 7th Avenue), New York, NY
Speakers:
Robyn Frank, General Counsel, Great Eastern Energy
Evan Lerner, Founder, Lerner, Cumbo & Associates
Susan Vercheak is an Associate General Counsel in the Law Department of Consolidated Edison Company of New York, Inc.
Dina Romani, Executive Director, Legal & Compliance Division, Morgan Stanley
Christos Badavas, Deputy General Counsel, The Harry Fox Agency, Inc.
Are you considering seeking a position as in-house counsel? Have you wondered what it was like to work in a company's internal law department? Our panelists will discuss what like is like as an in-house attorney, how it differs from private practice, the considerations and challenges they faced when making the transition and other things.

How to be a Thought Leader
April 30 | 8:30-10am
LIT Breakfast Series
Anchin Block & Anchin, 1375 Broadway (enter on 37th Street between Broadway and 7th Avenue), New York, NY
Speaker:
Marcia Nelson, Practice Growth Manager
Becoming a recognized thought leader in your practice area can help you significantly increase your name recognition and "brand you" as the go-to person in your industry. In this presentation, seasoned business developer, Marcia Nelson, will share ideas on how you can leverage your interests and skills to become an industry expert - leading to increased exposure and revenue growth.

How to Make Temp or Contract Work Work for You
May 8 | 6:30-8:30pm
Panel/Webcast
Location TBD, New York, NY
Speakers:
Deborah Epstein Henry, Co-Founder and Managing Director, Bliss Lawyers
Peter Ollen, Attorney, Axiom
Many attorneys are turning to various types of contract and temp work whether to supplement their income, provide for flexibility or otherwise. Our panelists will address how to best position yourself in finding temp or contract work, the different types available and the pros and cons for both the company and the contract lawyer.

How to Avoid a "Funk" When in Transition
June 5 | 9-11am
Panel/Webcast
Location TBD, New York, NY
Speakers:
Elena Rand Kaspi, President, LawScope Coaching. LLC
Amy Gewirtz, Director, New Directions for Attorneys, Pace Law School
Laura Powers, President, Powers Career Coaching, LLC
Transition is a tricking time. The soul searching, job hunting, financial uncertainty and other stresses can take a toll on you. Our panelists will provide advice on various methods to manage those stresses, making the transition period a little less daunting.

In-House Position

I am delighted to announce an in-house position for a commercial litigator to work at a NYC company. The position is about 40 hours per week and will last 3 - 4 months, beginning as soon as the right candidate is selected. The positin will last until sometime in June. The ideal candidate will have 5 - 15 years of commercial litigation experience. The pay is competitive, with benefits. Interviews will begin as soon as appropriate candidates are identified.

Job requirements and preferences include:


  • A commercial litigator with 5 - 15 years of experience;

  • Experience in the insurance and/or financial services industry is a plus; and,

  • In-house experience is a plus.


The primary job responsibilities will be for the lawyer to manage litigation brought against the

  • Company and supervise outside counsel. This will include:

  • Analyzing legal and factual issues, claims and defenses;

  • Deciding upon a strategy for dealing with claims in conjunction with outside counsel;

  • Being actively involved in discovery and motion practice;

  • Attending important depositions and mediations;

  • Coordinating and providing advice to the business areas;

  • Requesting settlement authority, where appropriate; and,

  • Advising with respect to threats of litigation and claims asserted against the Company.


If you have the requisite experience and you are interested in being considered for the position, please click here to e-mail your resume as soon as possible and put your name and "Seeking Commercial Litigator Position" in the subject line. If you are not suited for this position but you know someone who is, please forward this e-mail as you see fit. If you are not already on our free e-mailing list, you can join and send your resume by clicking here for future opportunities.

March 12, 2013

Comedians at Law


The Comedians at Law (www.comediansatlaw.com) are 4 lawyers-turned-comedian who tour the country performing for bar associations, law firms, law schools and audiences who love to laugh. They've been featured on The Late Late Show with Craig Ferguson, CNN, the Wall Street Journal online, Fox News "On the Record," CBS, and Sirius/XM's "Raw Dog" Comedy. They will be performing in New York City on March 15 at 6 pm at The Stand Comedy Club (239 3rd Avenue), and tickets are available at this link: http://thestand.laughstub.com/show.cfm?id=233517&cart

Successfully Dressed


The Committee on Women in the Law and Ann Taylor Present:

Successfully Dressed: Making the Right Impression With Your Wardrobe

March 28, 2013
6:30 - 9:00 p.m.
Ann Taylor
New York City

Dressing is all about the art of non-verbal communication. This networking event will feature The Honorable Erin Gall, JSC and Katherine Frink-Hamlett, Esq. of Frink-Hamlett Legal Solutions, a legal placement firm, who will discuss the importance of a professional appearance.

For more information, visit www.nysba.org/SuccessfullyDressedFlyer.

Register at www.nysba.org/SuccessfullyDressed.

March 19, 2013

Internship


Unpaid internship at busy, small litigation firm in Manhattan. Intern will work with individual partners on a variety of litigation assignments including research, drafting of legal documents, trial preparation and other assignments as required. Intern will accompany individual partners to court appearances, hearings, administrative proceedings and depositions. The practice is a full service litigation firm located in lower Manhattan that handles all types of civil litigation, commercial litigation, criminal defense, employment (including discrimination and sexual harassment), civil rights, landlord/tenant and estate administration matters. All partners are experienced trial counsel and two partners are former ADAs from Manhattan and Brooklyn. Candidate must commit to at least two days per week, per semester. Half days, either morning or afternoon, are also acceptable. Some prior litigation experience preferred, but not required. Firm will assist interns with any application for school credit.

Please submit resume, cover letter and writing sample, preferably no longer than ten pages to christine@anrllp.com. (Position is also available to recent graduates seeking to get experience.)

Alternative Careers for Lawyers


Alternative Careers for Lawyers
Wednesday, March 20 | 12:00 p.m. - 2:00 p.m.
Panel/Webcast
Herrick Feinstein, 2 Park Abe, New York, NY
Speakers:
Seth Finkel, Managing Director, Neuberger Berman Wealth Management
Sonia Bonsu, Director of Annual Giving, The Calhoun School
Stephanie Biderman, Managing Director, Major Lindsay & Africa
Sara Rakita, Associate Director, NYU Public Interest Law Center; former Consultant, the Ford Foundation, and Researcher, Human Rights Watch
Hillary Mantis, Moderator, Author of Alternative Careers for Lawyers
Panelists will explore alternative careers for lawyers and will provide helpful tips to assist you in your job search

March 22, 2013

New Directions for Attorneys


Pace Law School

(In collaboration with the Westchester Women's Bar Association)

Presents

NEW DIRECTIONS FOR ATTORNEYS*

INFORMATION SESSIONS FOR SESSION TWO, 2013

April 8, 2013
• Noon - 2 pm
• Pace Midtown Center · 551 Fifth Avenue · New York, NY
• Room 824

April 24, 2013
• 9:00 am - 11:00 am
• Pace Midtown Center · 551 Fifth Avenue · New York, NY
• Room 824

May 21, 2013
• 6:00 pm - 8:00 pm
• Pace Law School · 78 North Broadway · White Plains, NY

Session Two, 2013 Dates: September 9, 2013 - January 31, 2014
Session Two, 2013 Location: New York, NY


* Recently featured in The New York Times and Minnesota Public Radio (MPR) News!
http://www.law.pace.edu/press-coverage

For information about our innovative and unique program, please come to one or all of the upcoming Information Sessions. New Directions graduates and current participants will be attending to describe their experiences.

For more detailed information, visit our website at www.law.pace.edu/newdirections, call Amy Gewirtz, Director, New Directions, at (914) 422-4606, or email us at agewirtz@law.pace.edu

Please RSVP by March 31st for the April 8th session; April 17th for the April 24th session and May 14th for the May 21st session.


Understanding Your Insurance Options


Understanding Your Insurance Options
April 3 | 8:30-10am
LIT Breakfast Series
USI Affinity, 261 Madison Ave, New York, NY
Speaker:
Mike Mooney, Vice President, Bar Association Programs
NYSBA offers many malpractice and health insurance options. We will discuss what options are available and answer questions to help NYSBA members to determine the types and amounts of insurance needed or desired.

Understanding Your Insurance Options
April 8 | 8:30-10am
LIT Breakfast Series
NYSBA, One Elk Street, Albany, NY
Speaker:
Mike Mooney, Vice President, Bar Association Programs
NYSBA offers many malpractice and health insurance options. We will discuss what options are available and answer questions to help NYSBA members to determine the types and amounts of insurance needed or desired.

March 26, 2013

M&A Attorney


Bliss Lawyers is delighted to announce an in-house position for an M&A attorney to work at a NYC financial services company. The position is part-time and will last 3 to 6 months, beginning as soon as an appropriate candidate is identified. The ideal candidate will have 6 or more years of M&A and corporate experience. Experience in securities and lending is a plus. The pay is competitive, with benefits. Interviews will begin as soon as appropriate candidates are identified.


Job requirements and preferences include:

An M&A attorney with 6 plus years of experience;
Experience in securities and lending is a plus; and,
In-house experience is a plus.

If you have the requisite experience and you are interested in being considered for the position, please click here to e-mail your resume as soon as possible and put your name and "Seeking M&A Position" in the subject line. If you are not suited for this position but you know someone who is, please forward this e-mail as you see fit. If you are not already on our free e-mailing list, you can join and send your resume by clicking here for future opportunities.

Thank you for your interest.

About March 2013

This page contains all entries posted to Lawyers in Transition in March 2013. They are listed from oldest to newest.

February 2013 is the previous archive.

April 2013 is the next archive.

Many more can be found on the main index page or by looking through the archives.