Related Posts
McKinsey & Company Has Mckinsey met BA headcount quota for the year/did they freeze hiring? I interviewed and got to last round last year, and applied again with a referral two months ago but haven’t heard anything from recruiting. Last year I heard back within 1 month of referral drop. I would’ve thought with my 1 more year of experience I should be able to get an interview easily.🥲 McKinsey & Company
If you are starting as an Audit Associate some time from now with Deloitte or any of the big 4, do they expect you to have passed/completed all 4 parts by the time you start? Received the Becker Reimbursement email from the recruiter not too long ago but have yet to start. I’ve seen plenty of people get to Senior at a big 4 firm without the CPA so I am a bit confused in that aspect. Any helpful feedback will be very much appreciated.
More Posts
Additional Posts in Small Law / Solos
New to Fishbowl?
unlock all discussions on Fishbowl.
Check out this book on Amazon, “Starting and Growing a Law firm without Breaking the Bank.” It gives you practical step by step instructions in starting, running and growing a solo or partnered practice.
I graduated a year ago and immediately started my own solo practice. Trial and error will be a fact of life. I use clio for practice mgmt and billing. It is super easy and doesn't take much time. I use quickbooks for book keeping. Super easy as well.
Unless you don’t mind overpaying for canned solutions, being self sufficient as a business owner is useful. Understand as a solo half your job will be that of an attorney, and half will be that of hybrid bookkeeper-office-manager-marketer-IT person.
Probate and estate planning
I was able to find a secretary bookkeeper who was looking to work part time from home when I started my firm. I worked from home to keep overhead low. It really helped me to be able to share some of the admin burden without a lot of cost.
You can pay someone like NexFirm to handle your bookkeeping and otherwise set you up and assist with the administrative stuff.
I chose to go it alone. I don’t mind sending out bills.
Taking on a partner has its own set of potential headaches and rewards. There are ways to bounce ideas off of people without taking them on as a partner. Perhaps the people you currently work with would be happy to speak to you when you are out on your own.
Yes, I feel confident I will still be able to reach out to my colleagues. Plus there are other local attorneys I could reach out to - wouldn’t be the same as a partner. I suppose another option is sharing office space with other firms. I’m not sure how to scout those out though.
Try and keep costs down as much as you can in the beginning, until you find your stride. Consider a virtual office, you don’t want to be meeting clients at Starbucks. Don’t try and do payroll in-house, it’s not worth the effort. Invest in malpractice insurance, it’s worth the peace of mind. If you do find a partner, be sure to put together a partnership agreement with very clear separation terms and a case/responsibility/revenue disbursal plan.
I found the comments excellent and helpful to anyone that want to start a solo practice. I agree with the get malpractice insurance. The cost is depend on the type of practice. Your carrier should provide with advise as to how to structure your practice to avoid a malpractice claim. Good luck.
Where are you located
Austin