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(And no, it didn’t start as a side hustle.)
After graduation, many job-seekers hunt down positions in established companies with a large pool of clients. That’s precisely what I did as a new lawyer. Working for a big firm provides financial stability, mentorship, exciting cases, and the potential for upward mobility.
But it’s not the best choice for everyone. Some lawyers find the grind of an established firm to be too much, often citing poor work-life balance, limited control, or long hours as reasons for branching out on their own.
In this case, opening a solo practice may be the best choice. However, it’s a challenge to get a law firm—or any newly established company—off the ground. It takes time and dedication to become profitable.
Looking to quit your stable position to venture out on your own? You can do it! And no, you don’t need to start with a side hustle.
Here are five lessons I learned from quitting my job to start my own firm, which apply to anyone looking to make the leap from employee to entrepreneur:
1. Plan your departure carefully
How you leave your current job can make or break your future. It’s important to leave on good terms with transparency to maintain a good relationship. You may be able to rely on your old firm to bring clients into your new one through referrals.
Your established firm may have difficulty fitting small clients into a busy schedule. Referring them to you benefits both of you, but that won’t happen if you leave on bad terms or try to steal clients before you go.
2. Create a client acquisition strategy
Lawyers used to rely on their reputations to bring in new clients. The market has gotten more competitive, however, and clients find lawyers in any number of ways. It takes more than a name and social network to attract new business.
Before you venture out on your own, you need a client acquisition pl… Read More
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