How to Start a Law Practice

Starting a law practice doesn't take a huge amount of capital or 20 years of experience. Many lawyers find that working in a large to mid-size firm stifles their creativity and limits their earning potential. By starting your own law practice you have the freedom to choose in what area of law you will specialize and what type of client you will take on.

Instructions

Difficulty: Moderately Challenging

1. Spend some time right out of law school in an established law firm. This will give you time to learn the ropes and decide what type of law you want to specialize in.
2. Canvass the area where you want to practice and find out how many and what types of law firms are available.
3. Make yourself available to teach seminars for non-profit organizations or community outreach programs to get your name out in the community. Volunteer to serve on local governing boards, especially for areas you're interested in. Examples: zoning board, zoning board of appeals, community development and the commission on aging.
4. Develop your own philosophy of practicing law. Would you like to spend some portion of your day doing pro bono work? Are there opportunities to mentor other young attorneys? Do you want to be a leader in your community?
5. Find ways to expand the services you offer like becoming a mediator, guardian ad litem or trust administrator.
6. Build relationships with professionals who will feed you clients regularly such as estate planning attorneys and financial planners, elder law attorneys and geriatric care managers. Network with other attorneys and develop relationships with them.
7. Find reasonably priced office space, share space, resources and secretarial support with a small group or look into the purchase of a building to house your office as well as provide leasing income.
8. Plan your exit strategy carefully and prepare your book of business and client lists for transfer to your new place of business.

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