Independent practice offers lawyers flexibility and control
Big law firms, where associates and partners are commonly required to bill in excess of 2,000 hours a year, are notorious for their failure to accommodate attorneys’ personal needs. Big Law attorneys wear their workaholic tendencies as a badge of honor at many of the top law firms, but long hours at work are often in conflict with personal and family needs.
Both women and men leave large law firms in search of more flexibility and work-life balance. Some attorneys leave the legal field altogether, but there are other options.
Starting an independent law firm provides lawyers a measure of control that is not usually possible in Big Law. They have the choice to push back against or even part ways with demanding clients who have no respect for their personal lives. They can also control their day-to-day working conditions, working from home or in a shared office space. Owning a law firm gives lawyers the ability to ramp up or ramp down their professional activities based on their business, personal and family needs.
The following tips can help make the vision of an independent law firm a reality:
Though investing in marketing, infrastructure or legal management software may not yield income immediately, they are important for the long-term success of your firm. Careful planning can produce big gains after just a few years of hard work. Keep your eyes on the prize.
Don’t neglect the business aspects of a law firm
One barrier to starting firms is that many lawyers are most comfortable practicing law and neglect the details of running a business. However, focusing on fundamentals, such as finances, marketing, insurance and staffing, are crucial to the success of a law practice.
Partner with other like-minded lawyers
There is no shortage of professionals seeking the right balance between work and personal life. Partnering with other attorneys can provide you with the support you need to get your practice off the ground. Here at LawBank, you even have the opportunity to work side-by-side with other independent lawyers who are working to grow their businesses.
Contact us today for information on tools that can help you start your own practice and achieve the work/life balance that so many attorneys crave. We offer flexible office leases and shared office space for lawyers in Denver.