Legal Career Resources

Attorneys Do Not Make Good Entrepreneurs
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

entrepreneur

Summary: Learn why entrepreneurs and attorneys are generally not the same people because of a large difference in personality traits.

While there are many characteristics that are similar between attorneys and entrepreneurs, there are plenty of traits that are different and make any transition from attorney to a more business-minded career difficult. In “Why Attorneys Often Fail as Businesspeople and Entrepreneurs,” Harrison Barnes explains why attorneys struggle when they give up law for a business or entrepreneurial type career.

  
What
Where


The biggest mistake attorneys make is to leave the law to pursue other opportunities that often don’t work out. Careful consideration must go into the decision of leaving the law because once it is done, coming back to work as an attorney is next to impossible. The responsibility of being an attorney are heavy but many often give up before exhausting all their options to stay in the legal world.

The characteristics that go into being a successful entrepreneur that differ from being a successful attorney include an optimistic outlook. Entrepreneurs take risks, coming up with an idea for their business and then sell others on the idea. They rely on the uncertainty of the business whereas attorneys rely on the certainty. Attorneys find support and comfort in knowing that there are set rules. They don’t like that there are risks associated with a business. They give up quickly and easily when things go wrong but entrepreneurs know that failure is a given and so they just keep trying until they find success.

If you take a look at the legal industry, not much has changed over the past twenty plus years. Technology has made a few adjustments to how attorneys conduct their work but most law firms are behind the times in their use of technology. Compare this to businesses that are always having to change to keep up with demands. They are creating new products, new services, and new ways of doing business.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Attorneys are stuck in a mindset that intelligence and credentials entitle them to success. Attorneys work hard to get into a top law school where they can graduate with top grades because they know doing such will greatly increase their chance of landing positions with the best law firms. Entrepreneurs understand that business does not care about those things. While intelligence and credentials may play a role, they do not guarantee anything and entrepreneurs do not expect them to.

There are, of course, exceptions to this. There are some attorneys that can become very successful entrepreneurs. There are a number of attorneys that have experience in the business world before entering law school and the legal industry. Also, attorneys that turn into entrepreneurs usually don’t spend much time as attorneys before making the switch. These attorneys immediately start out in the legal industry learning how to and developing their own law firm. They know how to market and advertise where most attorneys don’t. Even if the attorney stays with the law firm and becomes a partner, to get the level of partner and maintain it, they have to be able to support the business side of the law firm.

Attorneys that find themselves hating everything about the work they do and the legal industry are better off finding something else. As Barnes explains, “Quitting the practice of law is like ending a bad relationship.”

Do you think attorneys would make good entrepreneurs? Tell us in the comments below.

To learn more about what makes attorneys successful, read these articles:

Photo: flickr.com



 

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Complex Litigation Attorney with 3-5 years of arbitration experience

USA-FL-Miami

Miami office of our client seeks complex litigation attorney with 3-5 years of law firm experience i...

Apply Now

Senior Business & Commercial Litigation Attorney

USA-CA-Irvine

Irvine office is seeking a business and commercial litigation attorney with 5+ years of experience. ...

Apply Now

Commercial Litigation Attorney with 1-3 years of experience

USA-TX-Dallas

Dallas office of our client seeks litigation attorney with 1-3 years of experience. The candidate wi...

Apply Now

Labor and Employment Attorney with 3-4 years of litigation experience

USA-CA-Los Angeles

Los Angeles office of our client seeks labor and employment attorney with 3-4 years of litigation ex...

Apply Now

RELEVANT JOBS

Paralegal

USA-AL-Montgomery

Overview The Southern Poverty Law Center is dedicated to fighting hate and bigotry and to seeking...

Apply now

Legal Assistant- Bilingual

USA-NV-Las Vegas

Prestigious personal injury firm seeks superstar BILINGUAL legal assistant! Candidate MUST have...

Apply now

Commercial Real Estate Associate

USA-NY-Rochester

Searching for an experienced commercial real estate associate. Ideally, this candidate has gained th...

Apply now

Paralegal / Legal Assistant

USA-LA-New Orleans

New Orleans law firm, Herman, Herman & Katz, seeking to hire a paralegal with at least five years ex...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top