Top 5 Tips for Successfully Starting a Law Firm
Are you thinking about starting a law firm? Maybe you graduated from law school recently, or you have been working in a law firm for a while and figured out it isn’t for you? Either way, congratulations. You are about to embark upon a major journey.
There are 1.3 million lawyers in the United States, and 50% of them go to work for law firms, 12% work for the government, and 1% start a solo practice. That’s a lot of lawyers that you will be in good company with if you decide to go solo as well.
Read on for 5 tips that can help you successfully start a law firm.
1. Have a Realistic Plan
Remember that you might not start earning an income for a while. And if you are the kind of person who needs a steady paycheque, then this might not be for you.
2. Be Ready To Play Many Roles in Your Firm
If you are starting a law firm, you will probably be putting on many hats in the law firm at first as the attorney, accountant, CEO, marketer, and more.
3. Pick a Niche and Run With It
Don’t try to be all things to all people. Figure out a specific area of law that you have experience with and stick to that as your niche.
4. Make Marketing Your Law Firm a Priority
Remember that you won’t make any money if people can’t find your law firm. Build a website. Get on social media. Start advertising on bus stops and radio stations.
5. Do Not Work Yourself Into the Ground
Balance is going to be key for you as you build your law firm from the ground up. It will be easy for you to overwork yourself and burn out if you don’t watch out for that.
Some Final Law Firm Tips
Remember that there are lots of lawyers and law firms out there already, so don’t reinvent the wheel. Use the tools that are already popular with law firms out there.
For example, there are already tools to organize client case files and secure them. Read on here for information on using Sharepoint for law firms.
Get a mentor and/or find a network, so you can spend some time learning from the masses and the experts. Whenever you have an issue, instead of grinding over it in your spare time, ask your mentor the question instead.
This way you will be able to move ahead faster and get over the inevitable bumps on the ground smoother.
Starting a law firm isn’t going to be all smooth sailing, but with the tips above you can make your new life much easier.
Starting a Law Firm With the Right Tools Is Easy
If you’ve been thinking about starting a law firm but worry that you don’t know all the ins and outs, don’t fear. You will learn it on the way.
There’s no way you can know it all before you begin. With a mentor and a solid network behind you, you won’t have to know it all before starting.
If you liked this article, check out the other articles in our archive on this subject.