Solos, thinking of starting my own solo shop. Fresh out of law school. Fully remote. Thinking of repping early stage startups and small businesses. Think EC/VC adjacent. Would be able to undercut the big shops by offering ultra competitive rates and possibly equity. Could this be viable for a baby attorney?

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If there is one thing I've learned joining a solo it's not to compete on price. If your selling point is that you're cheaper, you're already running your business incorrectly. Set prices for your services based on what they're worth not just to outbid your competitors.

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Did you have any relevant experience in between undergrad and law school? Otherwise, this sounds very, very, very hard and like a recipe for disaster; from the standpoint of working knowledge, business ownership, client generation standpoint. I like it a lot at 5+ YOE.

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Thanks for your take. Put up my background on another comment here.

I think this is a good background in the vc space but not enough in the legal or business owner space. At 5 YOE you’ll look good and the sky is the limit.

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What do you mean “and possibly equity”? My immediate concern is the practice learning curve on multiple aspects of owning and running a firm. Where do your clients come from? How do you ensure payment? Where do you go to get help/answers/second opinions/refer for matters outside your niche area? But there’s a reason I’m in a multi-member firm and not solo.

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Seo and marketing will be really important. Not many attorneys will refer their clients to someone fresh out of school and without a reputation.

Obtain a consult from a tax attorney - how to assess what % of your home is used for work for TAXES (a primary IRS audit reason). Do not get caught without knowing what to assess and maintain (anything new for work/depreciation; quarterly self employment taxes; etc.)

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1 year as paralegal. In law school, clinic experience, couple of VC fellowships, consulting experiences with MBA business program, and a 1+ year stint with an international incubator/accelerator program.

Mixed variety of multiple other internships while in law school and undergrad.

It’s an interesting hodgepodge of PE/VC internships, some law, and in-house (buy side M&A shop).

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