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Strategic Business Plan

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Paul Murphy

on 18 February 2013

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Transcript of Strategic Business Plan

Paul Murphy Strategic Business Plan
for eReplete.com Mission Statement This presentation
comprises a
strategic plan for
eReplete.com. It reviews its strengths, weaknesses, threats and opportunities; presents a series of fundamental statements relating to eReplete.com's vision, mission, values and objectives; and sets out eReplete.com's proposed strategies, and goals. The central purpose and role of eReplete.com is defined as: eReplete.com will engage in providing a virtual nexus between lawyers and non-lawyer legal professionals (NLLP) to fulfill the needs of the lawyers served. A database of NLLPs and virtual administrative assistants will be collected and maintained by eReplete.com to provide quick, efficient, competent, and low cost legal and administrative assistance on demand. A variety of services will be established, both boilerplate and specialized. The vision of eReplete.com in 3-4 year's time is: Vision eReplete.com will be committed to providing a wide-range of
competent, reliable paralegal and administrative services to lawyers. Business Values eReplete.com will gradually and consistently expand its services... Business Objectives Strengths:
* Strong paralegal background
* Legal administration training
* Developing operational strategies
and... Strengths,
Threats &
Opportunities Weaknesses:

* Lack of managerial knowledge or experience
* Lack of clear strategy for attracting clients
and... Threats:
* Competition could increase rapidly
* Competition from substitute services
and... Opportunities:
* Market should be ripe for the service
* Service should have broad appeal to lawyers
and... Within six months after operations commence, eReplete.com will have a steady client base of lawyers... The following critical strategies will be pursued by eReplete.com:

1. Establish the financial strategy necessary to make the business self-sufficient
2. Develop pricing criteria for the services rendered
and... Key Strategies The following important strategies will also be followed:

1. Develop portals for lawyers to access client information
and... Major Goals The following key targets will be achieved by eReplete.com over the next 3-4 years:

* Develop a base of lawyer-clients of at least 100 within one year
* Develop a broad database of NLLPs and administrative assistants
with a broad range of abilities committed to eReplete.com... * Increase the base of lawyer-clients by 10% per year for three years
* After three years, increase the base of lawyer-clients by 15-20% per year
and... Blue Ocean eReplete.com is a Blue Ocean business. Heretofore uncontested market space will be created by joining two sets of legal professionals in a virtual setting.... To contribute to your success – Our business lets you get on with yours. Lawyers using eReplete.com are expected to operate within U.S. jurisdictions. . . It reviews strengths, weaknesses, threats, and opportunities; This will include the portal through which lawyers can request that specific tasks be performed by a specific date/time. Principal clients for these services are expected to be solo practitioners, lawyers either fully virtual-functional, or firms utilizing a virtual component to their services. ...while the NLLPs and administrative assistants may be located worldwide. ...contracting its non-lawyer legal professionals (NLLP) for providing low-cost, highly competent legal services to the lawyers' clients. ...as it broadens
its contacts with lawyers and
commitments from NLLPs
and administrative assistants. * Low start-up costs
* Low operating costs
* Better than average understanding of the technology * Untested marketing skills
* Lack of knowledge of invoicing and for pricing the services
* Lack of fully developed package of services to be offered * Growth of substitute services
* Growth of competitive services * Service should have broad
appeal to non-lawyer legal professionals
* Rapid market growth 3. Develop payment criteria for NLLPs and administrative assistants
4. Produce daily blog entries pertinent to lawyers 2. Train promising NLLPs to "franchise" the service
3. Incorporate accounting services * Generate after-expense income by the end of the first year of at least $60,000.00
* Generate after-expense income beyond the first year at a growth rate of 15% per year
* Establish at least three additional eReplete.com outlets within two years Traditional competition -- permanent staff and employment agencies -- will be irrelevant. eReplete.com will create and capture new demand and will provide greater value at a lower cost. presents a series of fundamental statements relating to eReplete.com's vision, mission, values and objectives; and sets out eReplete.com's proposed strategies, and goals.
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