Monday, July 22, 2013

Can You Start a Law Firm with No Money?

From the PhillyLaw Blog:

I think one of the most common questions I get asked is,
“Jordan, I want to start my own firm, but I have like $1700 in my savings
account. Can I start a law firm with no money?”

The simple answer is yes, yes you can. It doesn’t take
much more than a law license, a working computer, a printer, and a cell phone
to start a law firm.

But here is the better question. Will your law firm
succeed in the long term if you start it with no money?

Well, that answer is a bit more complex…

I think one of the most common questions I get asked is,
“Jordan, I want to start my own firm, but I have like $1700 in my savings
account. Can I start a law firm with no money?”

The simple answer is yes, yes you can. It doesn’t take
much more than a law license, a working computer, a printer, and a cell phone
to start a law firm.

But here is the better question. Will your law firm
succeed in the long term if you start it with no money?

Well, that answer is a bit more complex…

The answer is yes, you can start your firm very
inexpensively, but it takes some money to keep it running. Your students may
find the rest of the article sobering. The real message is save up some $$$
before you hang out that “open for business” shingle.

(ljs)

 

http://lawprofessors.typepad.com/legal_skills/2013/07/can-you-start-a-law-firm-with-no-money.html

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