What are you solos making annually? Net profit? I’m thinking of going solo in a couple of years but trying to do cost-benefit. Also what does your overhead look like? Thank you!

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I just went solo two months ago and anticipate bringing in at least $100K this year. My overhead expenses total $1,300/month. I'm working full time hours, but bill 2-3 hours a day on avg. as I find I need to spend the rest on marketing, building connections, and clerical work right now.

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Billed at the same rate per ABA rules

2 years in. Gross 150, profit 95. I bill 1.75 hours a day on average but working hard to improve those numbers. Small town criminal defense, primarily retained work.

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MA1: thanks for that extra info. I handle most of the kid-related things at my house. It’s good to know someone is making it work with all of the things you have going on (way more than what I have to juggle). I started my firm last Fall so I’m still trying to figure out what the proper balance of time is.

I’m an elder law attorney so I feel compelled to say: don’t forget to take care of you. Being a caregiver for parents can be exhausting. I applaud you for doing what you are doing.

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Started my solo in 2015. First year did $150k. Second year did about $340k. Third year did about $400k. Fourth year did about $550k. Fifth year did about $610k. Sixth year did about $790k. This year we are shooting for $1.2M.

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Awesome

100k my first year working part time. Very low overhead, mostly work from my home office. Might open an office but I kind of like having little to no stress over monthly expenses.

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Business

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True solo here. Major metro market. 80% business. 20% misc. made about 50k last half of 2020 (when I opened). On track for 100k this year, not counting some big PI matters that may pay out too.

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1 full year in. Grossed $200k. Criminal and family law. Mainly do flat fees, but bill a little.

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Thank you!

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500k with low overhead 14k per month -3 employees and two other lawyers eat what they kill and collect. Best thing I ever did was kick my old partner to the curb. Make sure you have those exit clauses in your agreements and a few years back I put in a 30 day clause in the old firm. Best legal drafting I ever did.

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What happened that the partner got the boot?

Wow. Be ready for answers that are off the charts. What market are you in? That makes a huge difference. Can you share that?

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For those that do business law, did you find that business came from referrals? I wasn’t able to drum up business when I tried in 2012. My network was limited to in-house counsel.

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