Your own law firm can be a reality
Many lawyers are petrified to walk away from an established firm. However, it can be a great move for many lawyers, and launching your own law firm is simpler now than it ever has been.
Independent lawyers can choose which cases they want take and the hours they want to work. They can also structure their business to meet the needs of modern law clients who are looking for excellent client service, nontraditional fee structures and more nimble law practices.
Here are a few tips to create your own success with a small law firm:
Have a solid business plan
Before you even think about starting an independent law firm, you need to have a solid plan that details your goals and how you plan to achieve them. However, don’t tinker with the plan so much that it prevents you from taking the leap. A business plan should give you a framework to launch, but it can be edited and adapted along the way.
You should also have a marketing plan
It is essential that you know how you are going to attract clients before you even leave your other job. Create a solid online presence and commit to scheduling time for marketing on a regular basis. A law firm is a business, so you must make time for business functions in addition to practicing the law.
Find mentors you trust
It is important to find people who you can talk to and whom you trust. Other lawyers can be really helpful, especially if they also have started an independent firm. A collaborative work environment, such as LawBank, can help you connect with other independent lawyers.
Build a good team
You are going to need to have many people on your team to be successful. Choose your employees carefully to help your business run smoothly. In addition, contract with reliable vendors who can handle business functions outside of your expertise, such as a great accountant or a marketing firm.
We work exclusively with independent lawyers and small law firms in Denver. Contact us to learn more about our two collaborative office spaces in central Denver and Denver Uptown.
