The population of lawyers is 15% higher than it was 10 years ago. Though new lawyers are popping up throughout the country, not all of them are joining a law firm. Instead, many individuals are deciding to become a solo practitioner.
Are you thinking about going solo? It helps to have a plan in place first.
By plotting your course ahead of time, you can get yourself in order and become one of the most successful solo lawyers in the area. Here are the nine tips you need to succeed as a solo law practitioner.
1. Consider the Benefits
Before you get started, make sure to think through your decision. Why do you want to form a solo law practice instead of joining an existing firm?
There are many benefits to operating your own law firm instead of becoming someone’s employee. For example, the law firm might hire you at a certain rate and keep the majority of what you earn from each case. If you want to make more money, starting a solo law practice is one way to go about it.
Make sure the benefits outweigh the costs. It’s important to start yourself off with realistic expectations. For example, you might not make that extra money right off the bat.
Instead, you might need to put most of what you earn into maintaining your solo law practice.
Weighing the pros and cons will help you manage your expectations moving forward. Otherwise, you could find yourself disappointed by some of the challenges ahead.
2. Find Your Location
Where do you plan on working? Can you afford an office with a nice view? If you can, it’s bound to make a strong impression with the prospective clients you meet.
While you might feel inclined to work from home at first, it’s important to consider your clients. As a solo practitioner, the impression you make is essential. Otherwise, your would-be client will leave for a more professional-appearing law firm.
An office with a new view can help you win over your clients.
However, it’s also important to consider your budget before you sign a lease.
3. Set a Budget
As a solo practitioner, operating your solo law practice is going to prove costly during the initial phase. After all, you’ll need to find an office, buy office equipment, pay for internet, and worry about other fees.
You might also consider hiring a legal assistant and pay them a competitive salary. Hiring legal assistants will ensure your clients have someone they can speak with at all times. If you have multiple clients, you’ll struggle to handle all of those requests on your own.
When you start your solo law practice, start by setting your budget. Determine how much of your initial revenue you’ll put back into the business, too.
In the meantime, consider requesting prepaid legal leads to get you off the ground. Gathering these leads as soon as possible will give you a place to start. That way, you can start bringing in money, which will make your budget more manageable.
4. Craft a Memorable Logo
With more solo law firms popping up, you want to make sure you stand out. Otherwise, potential clients will have no way to differentiate you from the competition.
Start by creating a strong, impactful logo for your practice. You’ll want this logo to appear on your business cards, website, and other marketing materials. A logo will become the face of your brand and tie all of your marketing efforts together.
Let your logo convey a message about your firm and your expertise. Make sure the colors pop as well. A strong logo can make a strong first impression with your clients.
A cheap-looking logo, on the other hand, will have a negative impact on your brand.
5. Create a Dedicated Website
In order to start gathering leads, you’ll need a strong web presence. First, create a unique website that details your specialization and experience. Provide all the information your prospective clients need to help them realize they can trust your services.
Often enough, your website will make the first impression between you and your clients.
It’s important to make sure your website is impressive and easy to use. You’ll also want to use search engine optimization (SEO) to make sure people can find you on Google. If they can’t find you, you’re going to struggle to gather clients.
6. Promote Your Practice
The job outlook for lawyers is expected to increase by 6% between 2018 and 2028, which is faster than other occupations. If you want to stand out from the crowd, you’re going to need to promote your practice.
Start by promoting your practice on social media networks like LinkedIn and Facebook. Make sure each profile you create looks smart and professional. Don’t forget to use your logo to tie each platform together.
Then, use your platform to show clients you’re professional and experienced.
Link back to your website to start gathering leads, too.
7. Look for Referrals
In order to grow your solo law practice, you’ll need to find new opportunities to acquire fresh clients. Start by tapping into your network of colleagues. You can also cultivate referrals from your legal peers.
Don’t hesitate to talk to friends and family members, too. Pass your business card around or start talking to people you know. Let them know you’ve become a solo practitioner and that you’re there if they ever need help.
8. Blog About It
Blogging is a great way to show off your expertise and gather website traffic. First, determine your specialty. Then, use keyword research to determine what your prospective clients are searching for online.
Start writing about those topics. Show prospective clients that you’re knowledgeable and available to help. Then, post links to these blogs on social media to attract people to your website.
9. Consider Your Finances
You might want to consider a line of credit to borrow start-up costs. Don’t forget to pay taxes and file your tax returns, too. Otherwise, a tax authority will hold you personally responsible for any tax debts.
Becoming a Successful Solo Practitioner
Ready to become a successful solo practitioner? The important thing to remember is you’re not alone. Instead, start tapping into your network for support and advice as you start yourself on this exciting endeavor.
Looking for more business tips? Explore the Business section of the blog today.
