8 Reasons You Should Start Your Own Law Firm Right Out of Law School

You can make the rules, define what you do and work for the kinds of clients YOU want to work with.

If you are working for a firm you have no control of the kind of work you do  day in and day out.  As a partner in your own firm, you can learn to screen out the problem clients and even fire the trouble makers.   There is an excellent podcast that deals with this you can find here:   https://itunes.apple.com/ca/podcast/mastering-your-law-practice-law-practice-management/id1046620997?mt=2&i=1000368286100

You will get to improve your craft and remain attractive

You should begin practicing law right out of law school regardless of whether you end up in a firm or not.   The longer you wait and do nothing, the more difficult it will be to remain  attractive to prospective firms who might consider hiring you.

You have the option of scaling your income

There is no income ceiling if you run your own firm, particularly if you focus on business systemization and marketing.  If you work harder or smarter, you earn more money.  Pure and simple. Its physics. When you learn to scale your business on demand you have choices and control in your life.   If you decide time is more important that income, you can work part time.

You can set your own schedule

Working for a law firm you are beholden to the firm’s schedule.   As a solo attorney, your time is yours.   For some small business owners this is just enough rope to hang themselves with.  Keep sharpening the time-management (time investment) skills.  As a solo-attorney you get the benefit of the efficiency, not your boss.

You’ll develop an owner mindset

Learning an owner mindset will help you understand what it takes to make partner should you find yourself working for a law firm in the future.  The best way to learn to think like a partner is to be in charge and feel the real stresses and triumphs of being at the helm.

Rainmakers are Welcome Everywhere

Mastering the marketing of your law will make you invaluable and welcome in any business venture you attach yourself to.   The ability to bring in new business is one of the most attractive competencies in a candidate partner, all other things being equal.

Operating costs are low for a virtual office.

For a couple of hundred bucks a month you can run your firm on a shoestring.   The overhead of things you actually need to get started is low and you can be running in the black very very quickly.    Here is a list of resources you can deploy in one day for as little as $300 a month, not including office space and malpractice insurance.
$35 – Bookkeeping and Invoicing Software
Bookkeeping: Freshbooks
Freshbooks provides customizable invoicing, amazing reporting and automatic reminders to clients who are slow to pay.   It’s fully integratable with stripe and paypal and can be set up in minutes.  Their technical support people answer on the first ring and are extremely helpful and dedicated.  You can even generate invoices and accept payment right from your cell phone.
$70 Marketing Support 
Master Law Firm Marketing – as little as $70 a month.
Learn the art of automating your marketing and the practical specific action required to attract a steady stream of new clients each week.  Learn to analyze the behavior and tactics of big players with massive budgets.  Live trainings and support are available  to help you think about your advertising messages.   You can do as much of your own marketing work as you like.   Concierge design and programming is available on an hourly basis or with an upgrade to “Concierge Level” of subscription.
Web Site Hosting
Hostgator – as little as $5 / month.   You can set up your firm’s website in minutes and use their customizable templates to get something up fast, or turn the job over to the designers at masterlawfirmmarketing.com
Facebook Traffic – Start at $300 / month
Boost your blog posts or create ads to very specific markets and demographics.  For coaching on generating qualified Facebook traffic consider the training and support at https://www.masterlawfirmmarketing.com
Phone Systems
With RingCentral: Lets you record incoming and outgoing calls.  Profession IVR system, voicemail etc.  As little as $29.95

It Feels Great to Select Yourself

Until recently, our society has been engineered to put people on a career path where they are beholden to institutions and gatekeepers.  Now with entry level qualifications you can bypass the gatekeepers easier than ever.   Everything you have achieved so far has been because of your hard work and hustle.  Why do you need someone else to give you permission to practice law?  Granted, if you are fresh out of law school you won’t be as fast and effective as you will be, but that shouldn’t stop you from starting now.  The important thing to remember is this: You were trained as a lawyer, you don’t have to wait to get hired by a firm to start practicing law. There is nothing that holds you back from practicing law today.  You can select yourself.