Starting a law firm isn’t the easiest of tasks and can be a daunting prospect for those who have had no prior experience. Whether you have just graduated from law school or have been working at a law firm for many years, starting your own practice is always a route you should consider if you wish to boost your career.
Despite your dreams of starting your own law firm, how can you actually go about it? In this article, we provide all the information you need to know to get you on the right path for starting up your very own legal firm.
Pick an area of law
It’s essential that you choose one or two areas of law to concentrate on and have a clear focus on how you’re going to make it in a particular sector. If you try and balance too many areas of law, you won’t be able to learn your craft. Competitors will also be less willing to build your referral network, which is an essential aspect of gaining clients in the legal sector. Some areas of law are harder to break into than others, however, it would be wise to choose an area that interests you that you will know you’ll be comfortable dealing with on a day-to-day basis.
Build a website
All business and especially
Choosing a name
In some ways, the name you choose for your business is one of the most important decisions you can ever make, as your business will be identifiable by it. Typically, law firms often include the name of the attorney. However, this concept is now considered slightly outdated, as it doesn’t really stand your business apart from the rest of your competition. Your business name should be catchy and memorable, but also sensible.
The location of your business is an important consideration when starting up your legal firm. In the early stages, you may decide to work from home to cut out the expenses of renting out a property. However, this wouldn’t be the best long-term option as you’ll need to meet with clients on a daily basis, so a more professional setting would be ideal. Select an office that can accommodate both yourself and your team and is in easy reach for clients to visit you.
Maintain the best lifestyle
Running your own legal firm can truly have an impact on your lifestyle, which is why you need to lay the foundations in place to create the best work/personal life balance. Here are just a few of the main pointers you may like to take into consideration:
- Focus on what you do best and if you believe you’re going to struggle in certain areas, hire external contractors to carry out tasks for you.
- Ensure you’re working a reasonable number of hours – 40 hours per week would be sensible.
You are taking a reasonable amount of vacation time off to re-charge.