Starting a Law Firm: Is it for me?

May 29, 2021

Starting my own law firm has without a doubt been the craziest adventure I've ever been on. I never imagined that this was something I would do until I was presented with the idea. While I was studying for the bar exam, an email about a new program came across my desk. It was called "Entrepreneurs in Community Lawyering," and it was a flagship program dedicated to closing the justice gap. It was a program to help young attorneys start their own law firms, so long as they were interested in serving the community through pro bono and low bono work (specifically, "modest means" clientele). As soon as I read about the program, I knew it was the perfect fit for me. Suddenly, I had a new path that would use my eclectic background for good. I finally had the means to use my developed marketing skills, business aptitude, and leadership skills that I accumulated over time. But running my own business is a hard task, so I've put together a list of important pros and cons to help those who are considering starting a law firm. 

PROS

1. You can create your own vision. 

I like to do things in particular ways, and it's hard for me to use other people's systems. By starting my own firm, I could create a new entity in my image. I was always too organized or too fast-paced for other law firms to handle. I was ready to work and I was ready to work now. People simply didn't see the world the way I did. Now, I have the opportunity to shape a new law firm in my own image. My vision has become real, and I am grateful for it every single day. 

2. You have flexibility in your life. 

I don't know about you, but I always hated having a specified work schedule. I am not someone who handles schedules or routines well. By being my own boss, I can create my own schedule. I have the ability to run errands when I need to, attend doctor's appointments without taking off of work, and work when I am most efficient. I am not a morning person, so having the ability to work on a different schedule is everything to me. 

CONS

1. You are isolated. 

The absolute worst thing about starting your own law firm is the isolation. The isolation is similar to that we have all experienced during this COVID-19 era. You don't have co-workers to talk to, nor a sense of community. You don't have anyone to bounce ideas off of, and you don't have someone to edit your work. You are completely on your own. 

The good thing is there are ways to combat the isolation. It's not perfect, but it makes the loneliness more bearable. For instance, you can join a variety of bar association programs to have a better sense of community in your life. You can find mentors to help you on your journey, and you can create your own accountability groups. By throwing myself into these things, I have gained a better sense of purpose and community. Another idea is to share office space. I currently share office space with other members of the ECL program, but you can also become part of a "we work" or similar program and get the same effect. 

2. You have a heavier plate than your peers. 

By starting your own law firm, you automatically gain a much heavier plate then your peers. Not only are you responsible for your legal work, you are also responsible for new client intake, advertising and marketing, the company's financials, and other types of business work. There is not a whole lot you can do to clear your plate. However, you can trudge through the work and, hopefully, start making enough money to hire an assistant. I'm still working on that myself. 

3. You have no money. 

When you start your own business, all of your money goes into your venture. Be prepared to have little to no money for yourself. It's vital that you have cash flow to pay for your overhead expenses. Thankfully, I have had an abundance of financial help from my family and I couldn't be more grateful. Without them, I would never have been able to make my dream come true. 

So there you have it, my most important pros and cons of starting your own law firm. Personally, I recommend it. I told myself early on that I could always get another job. This was my time to make mistakes and attempt to make my vision come true. However, It's up to you to determine if it's worth it and if it's the right fit for you. If starting your own law firm is the next step for you, I wish you the best of luck and all of my support.