By Val Hemminger; Westshore Divorce Lawyer and Creator of Be The BEST Divorce Lawyer.
STOP! Before you do anything, I really want you to think about this. If you are starting your own law practice, be aware. Be aware that when starting your own law practice, it will be harder, more expensive, and tougher than you can imagine. It is not for the faint of heart.
Sure, there are great benefits, but there are also some pretty strong negatives. Consider these negatives and after having considered them, if you still want to start your own law practice, I say go for it!
Starting your own law practice can be great. However, don’t think for one second it will be easy. If you are the type of person, who likes to float along through life without putting your blood, sweat and tears into anything then starting your own law practice might not be for you:
As I said, building your own law firm is probably a lot harder than you think.
I know that when I started my own law practice, I had absolutely no idea how much work it would be. It took me years to get it right.
So, if you are reading this and wondering if building your own law firm is for you, I suggest you ask yourself these questions:
Can I put in the time and effort to create something that might not immediately pay off?
If the answer is yes, then starting your own law practice might be for you.
Do I have the stomach for financial risk?
Chances are, the first few months or even years after you start your own law practice, you will not see the entire return on your investment.
Am I willing to put myself out there?
When starting your own law practice, you have to put yourself out there, that is you have to be willing to do what it takes to attract clients. This means that you might have to write informational articles, do social media posts, show up on video . . . sometimes you will even look really dumb when you do it. There will likely be lots of trial and error, and if you have to keep showing up to ensure you attract great clients.
Am I willing to put in more than a 40-hour work week for at least a while?
When starting your own law practice, you will likely spend more than full time at it, at least for a while. It takes time to build the foundation of your systems to be successful. If you have no problem rolling up your sleeves and getting to work, even if it is early in the morning or after 5 pm, then maybe building your own law firm is for you.
Am I willing to move beyond an employee mindset?
When starting your own law practice, you have to move out of the employee mindset. If you expect that for every hour you work, you will be guaranteed a certain amount of money, then building your own law firm is probably not for you. However, if you realize that, at least in the beginning, not all the time you put in will result in being paid, then perhaps deciding to build your own firm is the right thing for you.
Phew, now that we've gotten all those tough questions out of the way, let’s dive into the steps it takes to Starting your Own Law Practice.
So, there you have it!
Now you know how to start your own law practice so you can avoid making huge, expensive, painful, embarrassing, time-consuming, and disastrous mistakes.