Sunday, February 6, 2011

Starting Your Own Practice

The January 2011 issue of the ABA Journal offers advice to lawyers who are planning to go solo. In “Starting Up,” attorney Susan A. Berson emphasizes good financial planning. Here is her advice. In the article, she elaborates.

 1. Keep your overhead low.

2. Set your rates to be competitive with other legal providers.

3. Market yourself.

4. Keep your recordkeeping organized—taxes, cash-flow statements, balance sheets.

5. Save up money before you embark.

 I asked my wife Patti for her suggestions. She went solo about 10 years ago and has made a success out of it.  Here is her advice:

 Join your local bar association and become involved not only in the Young Lawyers Section, but also in sections relating to your practice areas. These could include the family law, probate, environmental and criminal law sections. It is a great way to meet other lawyers. The sections may offer seminars at much lower cost than the state CLE  programs.


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