There are lawyers everywhere who are satisfied with working for big, corporate law firms. With that being said, there are many others who would rather branch out and try to make it on their own.
If you are one of the many lawyers making the mid-career move to independent law practice, here is some helpful advice:
Be prepared to scale down
While you may be used to posh offices and expense accounts, these won’t likely be available to you when starting your own firm. Trying to live up to the standards of the large firm you left will only increase your chances of failure. There is always a chance that you will be able to afford this lavish lifestyle again, but you should certainly scale it down for now.
Hire a good marketing firm
If you know absolutely nothing about marketing, there is no reason for you to tinker with it at a crucial time like this. It is extremely important for your firm to shine, and hiring a solid marketing company can help you. Although you are on a budget as a new business owner, solid marketing strategy and tactics are worth the investment.
Understand that it takes time
You are probably accustomed to people being impressed by your big law firm’s name and reputation. As an independent practitioner, it is more difficult to establish a name for yourself, but you should be patient. All big firms had to start somewhere, so relax and wait for your day in the sun. For now, embrace your new title as small business owner and independent lawyer.
If you need help gaining footing and/or figuring out all of the logistics of starting an independent law practice, including affordable office and co-working options, contact LawBank.