Have you ever dreamed of hanging out a shingle and starting your own practice? Attorneys who make the leap often say that there’s nothing quite like the first few months of flying solo: the exhilaration of taking charge of your own fate; the satisfaction of building a business from the ground up; the validation that comes with landing that first client.
Going solo can also provide unexpected work-life benefits. While there’s no question that starting a business from scratch requires long hours, the fact that you can do much of your work from home and set your own schedule for non-client-facing tasks can make it easier to carve out time for your family and personal life.
You already have the basic skills you need to practice law on your own – and suprisingly, an economic downturn can be an opportune time to go solo. The reason? Many small business owners are finding that they can no longer afford to pay premium rates for legal services, which translates into opportunity for solos with lower overhead costs and fee structures.
Of course, running your own business requires you to wear many hats – as marketer, office manager, and bookkeeper, to name just a few – and you may find that you don’t have the inclination to do all of those things. In that case, you may be able to offload certain tasks – by outsourcing certain marketing functions, for example, or teaming up with other solos to rent an office space and hire a shared receptionist.
You’ll also need the discipline to stay focused on your goals. When there’s no client work on a sunny afternoon, will you press on with business development – or succumb to the lush green lure of the golf course? And what about that prospective client case that you know in your gut will be more trouble than it’s worth – will you be able to turn it down, even when there’s nothing else in the pipeline?
If you have the ability and determination to do all of these things, you’re a good candidate for becoming a solo practitioner. If you’re still not sure that you’re cut out for the solo life, keep in mind that it’s entirely possible to start a solo practice while continuing to look for another job.
Regardless of where you go next, your solo experience will be an asset on your resume – after all, you’ll have a proven track record as an independent thinker with a positive attitude and sufficient people skills to develop your own client base. What law firm wouldn’t want to hire someone like that?