Office in a Flash
Congratulations – you have decided to hang out your own shingle! Many lawyers make this same decision each year. Some crave the rewards of entrepreneurship, such as scheduling flexibility, the freedom of “being their own boss,” or the pursuit of the big case that will enable them to retire and live comfortably for the rest of their lives. Others are compelled by downsizing, layoffs, limited opportunity for upward mobility at their current firm, or simply dissatisfaction with their current job. Regardless of your motivation, starting your own practice is a life-altering experience that requires full-time commitment and hard work. The anticipated benefits are tempered by financial risk, lack of a steady paycheck and benefits, commitment of time and effort, and sole responsibility for your firm’s success.
Successful solo and small firms have at least two things in common – great legal skills and business acumen. First, you have to work at becoming a great lawyer, as clients and other lawyers will refer more business to you if you have a great reputation. Second, organization and management are critical to assessing and meeting the demands of marketing to potential clients, cultivating and maintaining sound relationships with suppliers and vendors, ensuring sufficient staffing and efficient business operations, and maintaining compliance with State Bar regulations and court orders and rules.
Irrespective of your reason for wanting to open your own law firm, we are glad you came to Office in a Flash. Office in a Flash was created by the Texas Young Lawyers Association in order to provide you with information on various topics relevant to establishing a law practice. Inside you will find information about business plans, firm structure, office logistics, technology, and how to obtain and manage your revenue. You will also find a free 1 hour CLE on law office management and four ten minute segments from successful lawyers who have already made this journey. We hope you find Office in a Flash useful.