Building a law firm is something that takes a lot of time and patience to do. It’s a very specific type of business that takes a lot of knowhow and practical experience. Of course, running a business, innately, is something that’s going to challenge you every single day. But when you’ve got a law firm to start from scratch, and build a reputation for, you’ve got your work cut out for you.
Because you’re a new lawyer, and you don’t have much experience in this field right now, but what you do have is the time and energy to go far; that’s key to remember here. So, take the points below into account when you get the idea to start up your own law firm, because they’re key to working towards success.
It’s a Difficult Field
The legal field is a lot of work, and for people fresh out of law school, or from passing the Bar exam, it’s going to be a whole new world to plunge into. Of course, depending on what you plan to practice, some fields are going to be more difficult than others – tax law, or medical law, for example. But overall, it’s going to be a challenge, no matter the kind of practice you plan to start up.
The Marketing is Hard to Pin Down
Then comes the marketing; when you’re in the legal sector, this needs to be both cutting edge and appropriate, which is a hard balance to pin down. Indeed, a lot of bigger, more established practices outsource their advertising on a permanent basis, using companies such as Elite Lawyer Management to help define their reputation for them. Mainly, you need to be open for business at all times.
In all, that means operating a website that acts as both a sales hub and a marketing draw for any prospective visitor. You need to have leads on your side, as well as make good use of SEO to drive up traffic, and that’s hard to do alone. It’s a lot of work!
You Have to Manage Both the Law and the Business
And finally, it’s important to remember that you’re not a business student, and that could seriously hamper you here. After all, you’ve spent all your time learning law and getting ready to practice, and it seems only natural to focus on this right now.
However, behaving like this in the long run could send your practice down the drain. If you’re not sure what it takes to run a business, you’re going to need to brush up. Most of all, you need to know how to finance yourself in the early practicing stages.
Building a law firm is hard due to the amount of obstacles set up against you. When you’re a newly passed law student, and you’ve got a reputation and a practice to build, things are going to get challenging very quickly. All in all, keep this in mind for your career path.
