LawBank and DU Law Present:
Build Your Career Prospects: The Business Side of Private Practice
On September 23, 2020 LawBank and DU Law held a presentation examining the business side of private practice. The program was focused on helping new lawyers understand law practice management and how to excel in their careers whether they are an associate at a firm or plan to hang their own shingle. Speakers included LawBank founder Jay Kamlet, DU adjunct professor Karen Steinhauser, immigration attorney Christina Brown, and marijuana law attorney Alex Buscher. Each of the speakers founded their own solo or small law firm and provided valuable insights on how other lawyers can successfully start their own business.
The program began with an introduction to LawBank, followed by reviewing the advantages of business ownership for new lawyers, and concluded with a question and answer panel with the presenters. The speakers briefly discussed the concept of LawBank and provided information such as the number of members, the offered locations and the practice areas served. Transitioning to the advantages of business ownership, the presenters revealed some of the benefits available to new lawyers, such as more control over their career, the choice of colleagues, and a stronger connection with clients. One of the primary benefits that presenters focused on was the work-life balance that is available to law firm owners. According to a study conducted by the American Bar Association, 76 percent of solo practitioners work fewer than 60 hours per week. Many new lawyers find this type of balance between professional and personal life to be one of the most appealing aspects of business ownership.
While the legal marketplace is becoming more competitive every year, having a strategy, actively networking and thoughtful positioning can help set up recent graduates to succeed. The speakers examined ways that LawBank can help in each of these areas. With nearly 100 different practice areas represented and over 100 lawyers working in a collaborative setting, the LawBank ecosystem is a revenue generator for its members. Mentors are also vital for new lawyers and LawBank is the founder of Colorado’s only solo and small firm mentoring circle. Other benefits for LawBank members include the professional office space with 24/7 access to a variety of workspaces, including private rooms and large conference spaces that solo and small law firms need. Additionally, LawBank has vetted their business vendors and has negotiated discounts to give members exclusive pricing on services that will help their law business thrive, including paralegal services, bookkeeping, career coaching, marketing and much more.
The program concluded with each presenter discussing the type of law they practice, what made them decide to open their own firm, and advice for new lawyers starting their own practice.
If you are interested in viewing the program and the “8 Steps to Start Your Firm at LawBank,” click here. Visit the events page to view upcoming programs hosted by LawBank.
ABOUT LAWBANK
LawBank is Denver’s premier shared office space for solo and small law firms. Since 2012, LawBank has developed a unique collaborative community for lawyers in Denver. Working as part of the community allows members to exchange ideas, come together to pitch business and serve clients, and benefit from ongoing professional development opportunities. Offering shared office space and administrative support at three convenient locations, LawBank has the resources to help your solo or small law firm thrive. If you are looking for a total office solution for your independent law firm, schedule a tour with LawBank today.
