I don’t even know where to start. It’s been a month since I last posted, and I have enough prose brimming over that I could fill a full-length novel. In the interest of saving my two or three readers from mind-numbing boredom, I’ll try to hit the highlights here, then follow-up with separate posts if I feel so compelled.
In my last post, I pondered whether my current job put me in any better of a position than my friends who were retaking the bar. I have the answer now: Nope. Two weeks ago, I resigned from my first job as an attorney, faced with my employer’s decision to make my position a commissioned one. I just couldn’t return to a straight commission job, especially as an attorney. That’s not why I went to law school.
It dawned on me that my last two jobs, starting in January 2007 when I felt that I was taking the job that would begin my law career, have been for firms that were struggling. Of course, I didn’t know that they were as I was accepting the offer of employment, but I soon found out. The other thing they had in common was that they thought bringing me on board would magically increase their respective businesses. Hey, I’m good, but not that good (attempt at humor). I was rainmaker, before I knew how to make rain. I did bring in business. At the first place, I brought in a lot, but strongly disliked my employer and his practices. At this last firm, I struggled to bring new business. The real estate market is depressed and still falling; there’s no magical way to create client needs where there just aren’t any.
Then I had my “Aha!” moment. Why should I struggle to bring in business for someone else who’s failing when I could struggle to get business for myself? That’s right — I went solo.
Since making that important decision to go out on my own, things have come together quickly, for better or worse. Maybe it’s some sort of divine providence, proving that this was what I was meant to do. Or, it could be that I’m being set up quickly to fall flat on my face. I prefer to consider the former. I have office space, computer systems and an all-in-one printer/fax/scanner/copier. I have use of three conference rooms of varying size, a postage machine, a heavy-duty copier for big jobs, and someone who answers my phone. I have set up my trust and operating accounts, and was actually approved for a business line-of-credit. As I write this, my checks, business cards, stationery, and initial library and software are on their way. I have an account at the local office supply store, and have already experienced the business equivalent to back-to-school shopping. (I had sticker shock as well — office supplies don’t come cheaply!) I have filled out countless applications for approval with companies so that I may conduct real estate closings, plus the ones for various insurance coverage. Then there are the applications for two more local bar associations, related professional organizations, and a notary license. I await approvals with bated breath, and expect related invoices to come pouring in, too.
I have thrown myself into research — looking up information on the areas of law I plan to focus on, though I doubt I’ll be turning away much of anything in the early months (or years). My other research pertains to operating a solo practice, and I have been devouring every piece of information I can get my hands on about the subject. There’s so much to consider just to get started, and much more to successfully manage a business, especially a law office. I filed my articles for my new LLC, and scoured amazon.com for reference books. First, I read How to Start a Solo Law Practice – 2008 Edition, by Hal Davis. This was a great primer. It was a quick read and gave me plenty of items to consider, plus some suggestions for things I was already debating. Then I read the first half of The Complete Guide to Contract Lawyering, by Deborah Arron and Deborah Guyol, which details how to get work from other lawyers. I would like to supplement my practice in this initial period with some guaranteed monthly income, and this gave me good practical advice and pointers to get started. The second half of the book speaks more to lawyers that need contract attorneys, so I skipped it for now. I’ll check it out in the event I become overloaded — I’d rather outsource some tasks than turn down clients. I’m currently consuming each page of Flying Solo, Fourth Edition: A Survival Guide for Solos and Small Firm Lawyers, edited by K. William Gibson. This book is written by a variety of lawyers who are experts on the covered subjects, by calling or personal experience. It is much more detailed, and has even lost me on occasion (I had a little trouble understanding capital accounting). Its thorough coverage is enlightening — I’m keeping a list of things I need to address that had not even crossed my mind before.
All of these texts are loaded with good information, but an added value is that I have found them inspiring. Sure, there are plenty of terrifying things to consider and plan for, but there is also a lot of reassuring, “you-can-do-it” messages to derive. I have a list a mile long of other books in my queue, and I have found tons of great advice and information in blogs (I’ll have to list those in my next post — there are quite a few!). I feel encouraged and very optimistic about this new endeavor. I’m also scared to death. I think as long as I manage to keep my chin up and remember all of the positive things about being in business for myself, plus the opportunities that I will have that would possibly have never been afforded to me in the path I was taking, things will turn out quite well. It’s also probably not a bad idea to keep that healthy dose of fear, too.
