Time and again you have put your best foot forward.
You have tried to make things work.
But, despite your best efforts, your senior partner continues to plague your professional life in an unrelenting and inescapable way.
We know you may feel hopeless. You may feel desperate. We want to tell you that you are not alone. We work with so many attorneys who have been in similar situations to what you are facing right now.
The truth is there is an exit strategy to take and, let’s be honest, it can be developed over the span of your lunch hour. Open your own practice! Think about the flexibility that can come with being your own boss. Appealing, right?
Let’s dive into how you can use your lunch hour (or late tonight if your senior partner does not give you lunch) to take your career to the next level as you set forth how you are going to open your own firm. Let’s discuss a few things you will need to consider:
- Why? What is motivating you to do this? Why do you want to leave? Your “why” is going to tether you to this move. Especially when things get hard.
- Choose your practice area. Will you be practicing in an area you currently practice in or have done so in the past? Will your firm focus in on a niche area of the law or be broader in scope?
- Name your practice. Finding a name for your firm is so much more than what will appear on your business cards. It requires a decision on big business choices such as what your business structure will be. Are you going to set out as a solo? Set up shop as a professional corporation? Finding your name will involve these kinds of decisions as well.
- Set out your business plan. Think about what you want your firm to accomplish and the areas in which you will provide services. What will be different about your firm? This is also a good place to outline your financials. What financial resources are available to you or will you seek out? What startup costs will you incur? How will you generate revenue and how will you bill your clients?
As you lament your senior partner woes and dream of opening your own firm, we encourage you to schedule a free 30 minute Strategy Session with the team at Practice42. We help build successful law practices. Talk to us about how we can help you on your journey to a brighter future in the law!