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Do you think that a client would do well to trust you with their case? If so, then start your own practice. And trust that you can figure out the practice and logistics of operating your own firm - the marketing, the billing, the entity creating, the office space finding, whatever - because so many other attorneys less capable than you, less experienced than you, less hard working than you, have all managed to fumble their ways through that and get it done. And whatever they can do, you can do too.
Thank you!
Every one and every situation is different. But maybe this is something you need to hear: Three months ago I left a Big Law firm and started my own office. My only regret? I wish I'd done it 10 years ago.
Just do it and don't look back.
It is the best of times, it is the worst of times.
I started my firm the January after the towers fell. And it won’t be the last time you start your firm. In 20 years I have started my form 4 or 5 times.
No, I mean I had a line of business, flamed out, and started again. I started doing tax and estate planning and administration. Now we do complex commercial litigation, corporate, tax and securities. Wherever you go, there you are
Find a business mentor/coach who can guide you through the business operations. If you are walking with a book of business that will help sustain you, and then you will need tools to market and grow. Invest in systems that produce replicable and scalable results so that you can focus on law and your firm is as automated as possible. When starting your own firm you are also taking on the title of entrepreneur don’t neglect those job requirements.
Do you have your own clients ?
I do. I have what I think is a respectable book of business. It’s more the rest of it that is making me very anxious. Luckily I have a number of colleagues to lean on for guidance in going it alone. So maybe it’s more a fear of the unknown
Going out on your own is terrifying and exciting. can you afford to go a few months making no money? Do you have a ton of debt so your monthly nut is high?
Fear is not so much about the money (maybe I’m being naive). So the answer to the first is yes and the answer to the second is no
Sounds like you should go for it. Plan it out. Get your ducks in a row on someone else’s dime. Then make the move.