Boutique Law Firm and Title Company in Hohenwald Tennessee Research Paper

Boutique Law Firm and Title Company in Hohenwald Tennessee - Research Paper Example James Mark has a passion for the law and is comfortable with the real estate aspects of it. Specifically title searches, which forms the genealogy of land ownership. As a starting company, Syndicate Law firm will forecast its revenue. Revenue forecast is the amount of money calculated that Syndicate firm expects to receive from its sales. It is almost impossible to predict the yearly revenues of Syndicate Company precisely. It is critically crucial for Syndicate to develop a revenue budget of high quality. Managers of Syndicate will spend their time to assess the condition of the market, conduct analysis and negotiate with superiors to set the revenue expectations. This is possible for the company by setting aggressive but achievable targets. Therefore, revenue forecast plays a crucial in the present economies. It helps Syndicate understand how programs of the company affect the levels of domestic income. It also offers insight into the company’s economic health in the long-te rm and short-term (â€Å"Idaho real estate: practice & law†, 2002). Consequently, revenue forecast is crucial because it enables the managers of Syndicate to re-adjust the company’s annual budget. Adjustments are based on the company’s cash inflow’s estimate and keep off a large deficit of the budget. Syndicate budget team typically performs the procedures of revenue forecast at the end of a financial year. Consequently, the activities of revenue forecast affect the social expenditure and investment of infrastructure that Syndicate Company can develop over a financial year. For instance, when the estimates of revenue decrease, it causes the managers of Syndicate to reduce some of the social programs or even raise sales. Success The Syndicate Law firm will achieve its success by setting goals. Setting goals is part of the Syndicate’s planning process. The managers establish financial and non-financial goals for longer and shorter term. When Syndicat e Law firm has goals in place, it will help the management team to focus on the operational steps it needs to take and the resources needed to meet the target. When Syndicate Company meets non-financial goals, the possibility of meeting the financial target such as profitability and revenues becomes possible. Some of the non-financial goals include customer satisfaction, planning and reporting systems, employee and training development, policies and procedures, long-range vision, and community involvement. On the other hand, some of the financial goals that Syndicate Company needs to achieve include revenue and profitability. The major success of Syndicate Company is to keep their clients satisfied. This offers the chance for repeat business. When a customer is satisfied, they are likely to tell their associates about their experience. Therefore, if Syndicate Company sells to other companies, the endorsement from clients is crucial to close a sale with a new client. Also, the manage rs will create business plans for the company to table to perspective investors, which serve the company as a guide. When Syndicate grows, their planning process also grows. The growth includes the regular gathering of information on competitive activities and comparing the actual outcomes to forecast figures on a quarterly basis. Another success of the Syndicate Law Firm is its revenue growth and its expansion. Revenue growth and expansion creates