Podcast Ep. 22: What's in a business case?

When lawyers think about partnership, they often focus on technical excellence, strong relationships, and years of hard work. But in many firms, there is another piece of the puzzle that can have a significant impact on whether you make partner: your business case.

A business case is not a full business plan. Instead, it is a document that demonstrates why you would be a valuable addition to the partnership and how you intend to contribute to the firm's future success.

The first thing to understand is that business cases are not treated the same way in every firm. In some firms, they play only a minor role. In others, particularly larger firms with formal promotion processes, they can be a critical part of the partnership decision. Before you start writing, take the time to understand how the process works in your firm and what decision makers are really looking for.

For women lawyers, business cases can be especially powerful. Research consistently shows that women are often judged more heavily on their past achievements, while men are more likely to be assessed on their future potential. While that bias is frustrating, understanding it allows you to address it strategically.

The key is to connect your achievements to your future plans. Every projection about what you will accomplish as a partner should be supported by evidence from what you have already achieved. Past results become proof of future potential.

A strong business case starts with the market. Rather than beginning with a list of qualifications or a summary of your career, start by demonstrating your understanding of the clients you serve and the opportunities available in your sector. Show where you fit within that market and why you are uniquely positioned to succeed.

Next, explain how you intend to grow your practice. This should include the business development activities that have already worked for you and how you plan to build on them. The strongest plans are focused and targeted rather than filled with an endless list of activities.

It is also useful to consider your competitors. What makes you different? Is there a gap in the market that you are particularly well placed to fill? Thinking through these questions demonstrates commercial awareness and shows that you are already thinking like a business owner.

Your business case should also include financial projections. Use your previous results, client relationships, billable hours, and revenue figures to support realistic forecasts for the future. Decision makers want evidence, not wishful thinking.

Leadership is another important area. Partnership is not only about bringing in work. It is also about building teams and helping others perform at their best. If you have experience managing people or projects, explain how those skills will contribute to the firm's success.

There are three common mistakes I see women lawyers making.

The first is trying to do too much. Many lawyers include an overwhelming list of business development activities without considering whether they are realistic or sustainable. A small number of focused actions is usually far more effective.

The second is failing to think deeply enough about positioning. Understanding your ideal client, your strengths, your competitors, and the opportunities available in your market can transform the quality of your business case.

The third is treating the business case as a one off exercise. A well drafted business case should become a practical business tool. Review it regularly, measure your progress against your goals, and update it as your practice evolves.

Whether you are preparing for partnership now or simply thinking about your long term career, it is worth taking a few minutes to reflect on what is already working in your practice. Consider your strengths, your achievements, and the activities that are generating results.

Then ask yourself a simple question: how can you build on those successes?

Partnership is not about reinventing yourself. It is about using your existing achievements as the foundation for future growth and demonstrating, clearly and confidently, the value you can bring to the partnership.