Considering quitting my 350k-a-year gig to start my own firm. Am I crazy for doing this in this environment?

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DO IT! Before you regret not doing it. You can always go back. I quit during the pandemic to start my own firm. I quickly realized that I wasn’t ready but I wanted to persevere. An amazing job opportunity came up and I took it. The interview process to my start date lasted 6 months but that I was perfect for me. I turned that time off into a needed sabbatical.

I learned three major lessons.

1. I’ll NEVER lose when I bet on myself.
2. Jobs need me, I don’t need a job. I’m always going to be good. I have a law license, I’m smart, and I’m creative.
3. I’m valuable. All of the skills that I’ve acquired in my lifetime, even before law school, are valuable. Again, I don’t need a job to use those skills. They’re MY skills and I can use them to make money however I choose.

Money comes and goes but This moment is irreplaceable. Do it before you’re so tied to the money that you’re too afraid to risk losing it. More importantly, before a major event like death or a bang happens and it’s impractical or selfish to do it.

GOOD LUCK! Please come back to this thread and keep us updated.

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Love this ! “Jobs need me I don’t need a job” and that’s on period!

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Do it! Control your own destiny.

Don’t get caught up in these “big law” logos. Do what’s best for you. In the service business, people choose their provider based on trust. The name does help a bit but you as an individual is more important to a client’s decision than a firm’s name.

Before you make the decision, do you have a large network and savings you can start a practice of your own? Do you have the hustle to find your own deals or you prefer to have to handed to you?

Until you are an owner (of a business and real estate) you are nothing but a high paid slave. Both pathways are hard but choose your hard.

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Yes, why would you do that?

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It completely depends on a whole host of factors. I've helped folks make that transition so happy to chat in DMs if you like.

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Do you have a pros/cons list you’d be willing to share?

smart

Being a partner at a big law firm is basically running your own book of business. What is the upside of starting from scratch with all the new overhead cost and lack of resources? What are the benefits of starting your own firm?

The upside is you have greater ownership and control of $$$ if it’s your own firm. You also don’t have to deal with the political side of things working in a big firm.

Making partner is an accomplishment but you can be partner in name or title only. You are only truly valuable if you have your own book and not working off other people’s work. If you have your own book of business and confident those clients are with you (not the firm) then you can open up and start your own practice to make more money.

I know a few folks who started a practice after acquiring a reputation on the street and then sold the practice to a mid size firm. Trust that he is doing much better than “big law” partners.

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I say go for it. And if you need a virtual paralegal, let me know!

Do it! The first step is always the hardest but you'll get the hang of it later on. Rooting for you!

Don’t do it. Keep that guaranteed check. Max out your 401k, have significant savings before you consider it.

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