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10 Reasons to Start Your Own Law Firm
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Summary: Learn about the top ten reasons behind why an attorney should start their own law firm to decide if the step is the right one for you.

Starting your own law firm is a big step that should not be taken lightly because not everyone is the same. Harrison Barnes explains the factors that need to be considered before taking the step in “Should You Start Your Own Law Firm? Top 10 Reasons to Start or Not Start Your Own Firm.” As a society, we are often made to believe that entrepreneurship is a sign of success but for attorneys, this is not always the case. There are tens of thousands of successful law firms out there, so it is possible to build your own law firm from scratch.

  
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10 Reasons to Start Your Own Firm

  1. Surplus of work

You need to have several clients who are willing to stay with you and that you trust will stay with you. If you don’t have clients you need to make sure your law firm or corporation is willing to give you work. Attorneys that work in specialized areas like patent law will find that keeping loyal clients is easy because what they do is hard to find. Other attorneys may find that their clients eventually move on to a law firm that can provide more services.

  1. Support from other attorneys

Attorneys look to start out on their own will need support from their peers, some of which may even become “partners” at one point. Fellow attorneys that you have worked with for a while are good matches because you already know their strengths and weaknesses.

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  1. Cater to specialty in a practice group

Attorneys will a special skill for special practice groups like patent law, real estate law and some types of corporate work will be able to keep work coming in to support their firm. Be able to provide a well-defined skill that few others can provide will keep your law firm on the successful side.

  1. Experience in business

Already have an experience in business is a big boost for an attorney looking to start out on their own. They will already have a handle on the other side of starting a law firm instead of having to start from the beginning, wasting valuable time trying to balance the books and drive up more business.

  1. Location, Location, Location

Sticking to a small town where there aren’t many options can prove to be a successful venture. You will have locals walking in and calling up your office on a regular basis. Open your law firm in a town or geographic region that has very few attorneys as competition.

  1. Rich family and friends

An attorney looking to strike it out on their own that already has a breadth of wealthy family and friends that can help support their firm is invaluable. If you have a friend with a company that can send you a lot of work each year, they can be a good strong basis to build your client base off of.

  1. Have no fear

An attorney that does not care what others think of them, is not willing to suck up to partners to succeed and has no fear of doing any kind of work succeed with their own law firm. An attorney that is not willing to succumb to the demands of a large law firm will not last so it will be best for them to start their own law firm.

  1. Prefer working alone

An attorney that struggles to work with others will have a better chance on their own. There are just some attorneys that are more successful when they have the freedom to work as they like – that is not a bad thing.

  1. Loss of a job

An attorney that finds themselves out of a job or unable to line up a new one should start their own law firm. Once an attorney is unemployed, it becomes nearly impossible to land a job with a large law firm again. At this point, their only option is to try to be successful on their own.

  1. Different motivations

If factors like money, respect, and more do not motivate the attorney and the only thing they want to do is have their own law firm then there is really no reason not to. When an attorney has that burning desire and drive to be on their own, they have a real chance at succeeding.

To learn about the ten reasons not to start your own law firm, go here.

Do you think solo law firms or large law firms are a more successful option? Share your thoughts with us in the comments below.

To learn more about how to be a successful attorney, read these articles:

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