How much experience did you have before opening your own firm? What made you feel ready?

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3 years at big law. No client. No money. Tons of debt. No clue what I was doing. Lots of risks along the way. Now make way more than most big law partners and work about half as much.

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What’s your business model in the broadest sense? Lots of smaller cases? A more select set of large cases? A mix? Also, congratulations! You are living the dream

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I think the answer is similar to the questions: am i ready for children and am i ready for marriage.

You'll probably never feel ready. You have to just jump and build your parachute. I am about to quit my 6 figure job and do the same. Biggest thing is making sure you have referral sources lined up. If you do not, make a plan like "if i do not have x amount of clients in y amount of months, based on my savings, ill need to close shop and be back at square 1 at a "9-5" feeling like its groundhog day (the movie, not literal).

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This is rather specific. I think it will depend on personal situation. You need to have enough savings. You need to be able to operate on the most minimum overhead, share space, network with others….etc. and be patient and consistent. You should do well. There are couple of nice threads on Reddit where a few people gone solo documented details of their experience.

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likehelpful

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