Solo attorneys enjoy many benefits of independent law practice
Regardless of how long you have practiced law, going solo can offer a great alternative to working for a traditional law firm. The benefits of independent law practice include:
Flexibility
So many lawyers who have made the decision to start a solo law firm cite flexibility as one of the main reasons. Rather than feeling hemmed in by set office hours (often long and grueling), independent lawyers can create a schedule that allows for business success and a personal life.
As this independent lawyer writes for LinkedIn:
“I own a business wherein I have created the freedom, flexibility and autonomy that many other lawyers desire. I pick and choose my clients, the work and where I work. In fact, I recently tried working from a beachfront condo in Florida and my practice did not skip a beat.”
In addition to flexibility in schedule and firm structure, independent lawyers have more options to focus on niche practice areas. They can also collaborate with other lawyers and firms to go after bigger clients or cases when the opportunity arises. That ability to turn on a dime can become an attractive asset to clients.
Autonomy
Going hand-in-hand with flexibility, a sense of autonomy plays a big role in many lawyers choosing the independent path. Launching an independent firm allows you to call the shots and to do things differently.
This law firm founder, for example, eliminated profits as a measure of success for the firm’s partners and replaced it with a client service measurement:
“I wanted [our] partners to be judged on their client service alone. I didn’t see anyone else doing it, so I had to find a completely different model that would deliver this and not just pay it lip service. We now have an NPS score judged by clients that is consistently above 90 and probably the highest in the profession.”
For years, independent lawyers have been creating new business models, measures of success, firm cultures and more. They have changed what it means to run a modern law firm and how to serve clients best.
Scalability and Collaboration
Along with changing client service models, many independent lawyers have shifted they way they work to include:
- Alternative office arrangements
- Collaborative agreements with other lawyers and firms
The ability to work from anywhere has altered how business operates, but finding that sweet spot between remote work and a collaborative network that generates referrals remains important. Lawyers can’t operate their businesses in a vacuum and expect to remain successful.
In fact, in a recent review of lawyer salaries, this independent law expert notes that the most profitable independent law firms operated in shared office settings:
“On the whole, the studies show that solos in ‘shared space’ arrangements fared better in most jurisdictions, dramatically so in Michigan where median income for a solo working from an office in 2017 was $153,358 compared to $197,158 for a space-sharer, and $121,298 for a solo with office in Oregon compared to $197,158 for an Oregon space-sharer. The upward trend for space-sharers suggests that solos may gain significant benefits from sharing space in the form of increased referrals. And across the board, solos with any kind of office out-earned home-based solos…”
The ability to share referrals and even collaborate on cases brings solo lawyers together in coworking spaces and shared office arrangements.
In addition, these types of office environments make it easier for a solo attorney to scale a small law firm. A flexible office space allows a firm to grow at a sustainable and comfortable rate.
Ready to learn more about starting a law firm in a collaborative, shared office environment? Reach out today to schedule a tour of our Denver and Las Vegas locations.
