By Natalie J. Armstrong,
www.MarketingMediation.com
Mediation Practice Startup Basics First Steps

Starting and managing a mediation practice takes motivation, talent, and good dose of confidence. It also takes research and a solid amount of planning. Although initial mistakes are not always fatal, it takes extra skill, discipline, and hard work to regain the advantage. Take time beforehand to explore and evaluate your practice, lifestyle, and personal goals, then use this information to build a comprehensive and thoughtful mediation practice development plan.

Developing a business plan will force you to think through some important issues that you may not otherwise consider. We’ve seen it first hand. About 1 out of 12 clients that come through our doors actually sit down and hammer out concise plan putting all of their thoughts down in one place. Without hesitation, I would venture to say it’s one of the most important things you’ll ever do for yourself.

The clients that go through the entire exercise and draft a plan first increase their probability of success, but equally as important, have a stronghold on their practice’s operations and development. It’s obvious that they know their practice inside and out, they know their numbers, the can quote to me their financial and marketing plans, understand where their future growth is most likely to come from, and when they open shop, you can bet they’ll hit the ground running towards profitability.
Getting Started :

1: List your reasons for wanting to open the practice. Some of the most common reasons for starting a business are:

• Self-management
• Financial independence
• Creative freedom
• Full use of personal skills and knowledge
• Unlimited upside potential

2: Next determine if running a practice is right for you. Ask yourself these questions:

• What do I like to do with my time? E.g. mediate, convene, manage, etc
• Do I have the basic business and technical skills to run my own practice or should I outsource those activities?
• How much time do I have to run a successful practice and mediate as many cases as I would like?

3: Identify your practice niche. Research and answer these questions:

• What kind of practice am I interested in starting?
• What ADR services will I sell? E.g. consulting, mediating, arbitrating, ombuds, and whether or not you will take unrepresented parties.
• Is my idea practical, and will it fill a need?
• What is my competition?
• What is my practice’s advantage over existing practices?
• Can I deliver a better quality service?
• Can I create a demand for my business?

4: The final step before developing your plan is the pre-business checklist. You should answer these questions:

• What skills and experience do I bring to the business?
• What legal structure will I use?
• How will my practice’s business records be maintained?
• What insurance coverage will be needed?
• What equipment or supplies will I need?
• How will I compensate myself?
• What are my resources?
• What financing will I need?
• Where will my business be located?
• What will I name my business?

Your answers will help you create a focused, well-researched scaled-down business plan that will serve as a blueprint for business operations, management, and capitalization. Golden Media offers consulting on preparing a solid plan to help you leverage your assets further to create the mediation practice you want to have.

Natalie J. Armstrong is the Founder and Managing Director of Golden Media, a marketing and consulting firm dedicated to promoting the resolution industry. She is the author of The Essential Guide to Marketing Your ADR Practice and speaks internationally on business development and the successful marketing strategies of the conflict resolution industry. More ADR Practice Development articles and information about Ms. Armstrong and Golden Media can be found at www.MarketingMediation.com.