Solo Practice Q&A Forum

(Advantages vs Disadvantages, Hours and Compensation, Career Growth Potential, Company Culture, Getting Hired, Types of Practices- general vs specialty vs complementary, Small & Midsized Firm reviews & experiences)
Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Re: Solo Practice Q&A

Post by Anonymous User » Sun Nov 08, 2020 3:03 pm

Jinjuice wrote:
Fri Aug 02, 2019 3:18 pm
Has anyone here claimed their AVVO profile? Is that a good tool to use to market yourself better?

Also thanks for the advice again AV
I had them restrict mine (as long as you are not disciplined and in good standing you can do so)

It is a bit annoying how Judges can get theirs fully removed but the rest of us can't. Seems to me like Avvo knowing that if they told the Judges "no" that they would end-up getting ruled against for everyone. And if Judge can get what they want.........then who cares about anyone else.

FND

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Re: Solo Practice Q&A

Post by FND » Sat Mar 13, 2021 10:33 pm

Jinjuice wrote:
Sun Nov 08, 2020 1:22 pm
How’s everyone doing. I took some advice here and went solo. But man I still don’t have much trial experience or deposition experience but I’m not afraid to do it, what did you guys do to gain that experience?

Being out on your own and learning everything is fun but at the same time what do we do about shortage of experience?
Fake it 'till you make it

Seriously, though, there are three different aspects to "shortage of experience":
1) talking to clients/consults. Know your limitations, but also know what other possibilities are out there. If you have a mentor, don't be afraid to push the envelope of what you believe you can deliver, but don't go overboard.
2) the actual work. study, study, study. What I mean with that is, find out about as much of your specialty as you can, what exists, what's possible. If you feel something is within the realm of possibility, you can discuss with a client, and if you get retained, research the sh-t out of it, find out everything you can, and, most importantly, talk to your mentor.
3) what you don't know you don't know. Unfortunately, things may creep up. Even if you've done X a dozen times, that doesn't mean you've come across every issue. Hopefully you can avoid the big and/or common mistakes by researching, reading, and talking to your mentor. When something new and unexpected creeps up, recognize the potential issue, and stop. Especially when you're getting more comfortable, it's too easy to come up with a quick solution and think it'll work. Don't be overconfident. Don't just think it through, research your answer, and ask your mentor.

If you noticed one common thread here, it's having mentors. This doesn't need to be a grizzly expert who's seen it all and done it all and made you his/her heir apparent. It could be other solos who are willing to split fees with you, or it could be someone at a larger law firm who doesn't mind letting you pick their brain from time to time. It doesn't even have to be someone in the same state. Perhaps you are on one of the many forums or list-serv out there and can bounce your issue off a hive mind. Or you happen to have one acquaintance who somehow can see everything clearly. As a matter of fact, you also want non-lawyer mentors, to discuss the business side of being a solo, or marketing, or IT.
Basically, you need people you can turn to for advice.

thewestlitigator

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Joined: Sun Dec 01, 2024 3:34 pm

Re: Solo Practice Q&A

Post by thewestlitigator » Mon Dec 02, 2024 4:32 pm

Hey guys, so I'm currently a 3rd year litigation associate at a mid-sized firm in the West region, midlaw. Practicing general liability defense and insurance defense.

Two of my law school buddies (who are also practicing attorneys now) and I have been talking about starting our own practice. We are thinking of plaintiff's injury/personal injury litigation. I'm not certain if they want to leave their respective firms to start our own practice, so I may just hang up my shingles on my own, if they decline.

I'm curious, what would be the general startup cost that I need to start a small firm, if I go it alone. Obviously, I want to keep the overhead as low as possible in the beginning. I have some savings, but preferably, I would rather not take a huge chunk out of my savings for this endeavor. Apart from family and friends, where can I go for a loan to begin a small business. I know a bank is the obvious answer, but I'm wary of the high interest rates in these times.

Thanks in advance!

crazywafflez

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Posts: 706
Joined: Sat Dec 23, 2017 8:02 pm

Re: Solo Practice Q&A

Post by crazywafflez » Thu Dec 19, 2024 10:44 am

thewestlitigator wrote:
Mon Dec 02, 2024 4:32 pm
Hey guys, so I'm currently a 3rd year litigation associate at a mid-sized firm in the West region, midlaw. Practicing general liability defense and insurance defense.

Two of my law school buddies (who are also practicing attorneys now) and I have been talking about starting our own practice. We are thinking of plaintiff's injury/personal injury litigation. I'm not certain if they want to leave their respective firms to start our own practice, so I may just hang up my shingles on my own, if they decline.

I'm curious, what would be the general startup cost that I need to start a small firm, if I go it alone. Obviously, I want to keep the overhead as low as possible in the beginning. I have some savings, but preferably, I would rather not take a huge chunk out of my savings for this endeavor. Apart from family and friends, where can I go for a loan to begin a small business. I know a bank is the obvious answer, but I'm wary of the high interest rates in these times.

Thanks in advance!
I'm solo now, do mostly criminal though, so not too sure I can help. PI has some startup costs attached to it (a lot of your work is contingency, you need experts etc.), so you'll want a bit of a war chest going into it. I like having an office, but you don't necessarily need one.
I don't use any fancy systems and I use fast case (it came for free with signing up for my state bar) for legal research. It is underwhelming, but it ends up only costing me 300 a year (and again, includes state bar fees). Malpractice insurance runs me about 500 a year. I think that's very abnormal and most folks pay around 700-1200 (I'm in a pretty cheap state). Office can run anywhere from 900-3,000 a month, so I'd try to keep that as low as possible (or, again, just work remotely - I would get a PO Box though so you can list that and not your home address on things - POB will run you about 40 or so a month). I'm sure I'm missing some stuff here. I would just save up enough so that you feel comfortable. Also, be very careful about partnership and make sure you've got everything in writing. Especially what happens if y'all break up. Good luck!

thewestlitigator

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Posts: 5
Joined: Sun Dec 01, 2024 3:34 pm

Re: Solo Practice Q&A

Post by thewestlitigator » Fri Dec 27, 2024 9:39 pm

crazywafflez wrote:
Thu Dec 19, 2024 10:44 am
thewestlitigator wrote:
Mon Dec 02, 2024 4:32 pm
Hey guys, so I'm currently a 3rd year litigation associate at a mid-sized firm in the West region, midlaw. Practicing general liability defense and insurance defense.

Two of my law school buddies (who are also practicing attorneys now) and I have been talking about starting our own practice. We are thinking of plaintiff's injury/personal injury litigation. I'm not certain if they want to leave their respective firms to start our own practice, so I may just hang up my shingles on my own, if they decline.

I'm curious, what would be the general startup cost that I need to start a small firm, if I go it alone. Obviously, I want to keep the overhead as low as possible in the beginning. I have some savings, but preferably, I would rather not take a huge chunk out of my savings for this endeavor. Apart from family and friends, where can I go for a loan to begin a small business. I know a bank is the obvious answer, but I'm wary of the high interest rates in these times.

Thanks in advance!
I'm solo now, do mostly criminal though, so not too sure I can help. PI has some startup costs attached to it (a lot of your work is contingency, you need experts etc.), so you'll want a bit of a war chest going into it. I like having an office, but you don't necessarily need one.
I don't use any fancy systems and I use fast case (it came for free with signing up for my state bar) for legal research. It is underwhelming, but it ends up only costing me 300 a year (and again, includes state bar fees). Malpractice insurance runs me about 500 a year. I think that's very abnormal and most folks pay around 700-1200 (I'm in a pretty cheap state). Office can run anywhere from 900-3,000 a month, so I'd try to keep that as low as possible (or, again, just work remotely - I would get a PO Box though so you can list that and not your home address on things - POB will run you about 40 or so a month). I'm sure I'm missing some stuff here. I would just save up enough so that you feel comfortable. Also, be very careful about partnership and make sure you've got everything in writing. Especially what happens if y'all break up. Good luck!
Okay great thank you the great tips, appreciate it!

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