I participate in at least one group discussion per month where a lawyer — employed or not — asks the collective for advice about starting a solo practice. These nonbelievers envy our independence and our ability to adapt quickly to client needs and changing trends.
We respond with the usual tried and usually true advice: Get ready for uncertain income. Don’t overspend. Don’t underspend. Find a mentor. Find another one. Practice in a unique niche you are passionate about, but also serve the needs of the community. Have a sales mentality. And did I mention network?
After the jump, I will talk about a few other things an unemployed lawyer aspiring solo practitioner should also consider — and rant about the worst reason to start a solo practice….
Are you tired of getting the same questions over and over again from prospective or existing clients? Should I choose an LLC or incorporation? Will I lose my house in bankruptcy? What is a power of attorney? How long will my divorce take? Rather than respond to these same questions over and over, why not school your clients instead?
These days, schooling clients is easy. With the rise of online training and college courses, a broader segment of the population is now familiar with online education. Plus, there are a variety of powerful free tools to create online educational programs to educate clients so that they’ll have a grasp of the basics.
Before my partners and I started our own firm, I worked for a small insurance defense firm. It was a statewide practice, as most insurance firms are. Often times I would have to drive hours to some small county in the state for a 20-minute hearing, then get back in the car and drive right back.
I clearly recall one day when I spent roughly eight hours round-trip in the car, to attend one of those hearings that only took a little over 30 minutes. In the litany of intricacies of practice that law school does not adequately prepare law students for, add long car drives to the list.
That being said, I don’t really mind it. I rather enjoy the time alone in the car. It’s nice to be disconnected from things and alone with your thoughts. I listened to podcasts. I watched the pine trees go past mile after mile. I sat in silence, only the hum of the road to accompany me. In the hustle of drafting documents, responding to emails, returning phone calls, and meeting with clients, a few hours alone can be a respite….
Ed. note: This is the latest installment in a series of posts on lateral partner moves from Lateral Link’s team of expert contributors. Jonathan Birenbaum is a Director in our New York office and focuses his practices on lateral partner, group and associate placements and client services in the New York area and Canada. Prior to joining Lateral Link, Jon, was a legal recruiter with a New York City boutique legal recruiting company where he placed associates and partners in a variety of practice areas with AmLaw, regional and boutique law firms in New York, California, New Mexico and in Toronto. Prior to his career in legal recruiting, Jon was a litigator with the City of New York, the New York State Attorney General’s Office and in private practice as a healthcare litigator with two New York City firms. Jon holds a J.D. from St. John’s University School of Law in New York and a B.A. in Political Science from the University of Wisconsin-Madison.
I started out as a legal recruiter in 2007. After success with a series of lateral associate placements, the recession hit and associate hiring slowed significantly. The owner of my recruiting firm encouraged us to start cultivating a partner portfolio to broaden the scope of our work. Since then, I have facilitated numerous lateral partner placements with regional, Am Law 200, and boutique law firms. I have come to understand that the recruiting process can differ greatly with the size of the law firm. Partner candidates and their recruiters must take these differences as well as the candidate’s scheduling and timing needs into account when devising the best search strategy for that individual.
The first partner I recruited was an undercompensated yet well-respected defense litigator. I introduced him to an Am Law 200 firm as well as to a regional firm based in Pennsylvania. My candidate appealed to both firms because of his national reputation, the key client he represented (a major North American transportation client), and his history of strong billables and collections. Both firms immediately expressed an interest in meeting with him….
Of all the regrets I have in life, one of my greatest is that I never had the chance to meet Peter Drucker before he died.
Drucker is one of my intellectual heroes. He was able to look at the same world that everyone else was looking at but see things that others couldn’t see. He literally invented a science. And like all science, it is around you from the start but you just can’t see it till someone shows you the way.
The science he invented was the science of “management.” Before Drucker, people just ran things and sometimes good things happened and sometimes bad things — no one really delved too deeply into the “why” of it all. But then along came Drucker, who made order out of chaos and realized that there were principles that, if followed, would increase the likelihood a business would be successful.
All those leadership books you sometimes read, all those “how to” books you sometimes read, all of that thinking evolved from his groundbreaking analysis into the science of “management.” Drucker’s books are utter masterpieces. Indeed, there was an epiphany for me on every single page of his amazing book Management (affiliate link). I think I learned more about how to run my law firm successfully from Drucker than from any other source.
Here are two thoughts from Drucker that hit me like a bolt of lightning when I read them. Honestly, my business — and even my whole life — was never the same again.
The current discussion regarding the decision by Dentons not to report its average profits per partner (“PPP”) to the American Lawyer is interesting. While I was at Greenberg Traurig, then-CEO Cesar Alvarez used to have a pithy statement on the whole PPP issue, along the lines of: The only thing partners really care about is “profits per me.” There is a lot of wisdom in that statement. In my experience it is true for existing Biglaw partners, potential laterals, and those (fool?) hardy associates aspiring to partnership.
At the same time, the popularity of the American Lawyer’s various charts and rankings can’t be denied. And PPP is one of the catchier columns on those charts. It is used as a proxy for determining everything from firm prestige, to strength of client relationships, to how well a firm is managed.
Savvy associates can and do use it to determine associate quality of life at a particular firm. Your firm has a blazing PPP and no big contingency windfalls feeding the flames? Good chance you are looking at a never-ending flow of “interesting work,” coupled with the partnership prospects of a diminutive drone buzzing around hoping to get noticed by the queen bee. In contrast, you might enjoy a better lifestyle if employed as associate #614 by a Biglaw 2.0 monolith, but you also run the distinct risk of making partner only to realize that the financial gulf between you and the “real” partners is a broad one….
Not surprisingly, most small business owners rarely take vacation. According to a 2013 Sage Reinvention of Business Study, 43 percent of small business owners take less vacation time than they did five years ago. And from what I’ve observed among my fellow solos, vacations are even fewer and farther between. In fact, it’s not uncommon to find many solo and small firm attorneys who haven’t taken more than an extended three-day weekend as vacation in five years or more.
Solos’ reluctance to take vacation isn’t surprising. Some feel that they may miss out on a major client if they’re away from the office more than a couple of days, while others are so overwhelmed with work that they feel that they can’t make the time. Of course, cost is a factor as well, and it’s a veritable triple whammy what with the cost of the trip itself, lost revenues with fewer billable hours and the cost of bringing in an assistant or backup lawyer to cover cases.
Still, there are also costs to skipping vacation for years on end. Solos who never take a break experience burnout, reduced productivity and loss of time with family. Moreover, without vacation (and somewhat counter-intuitively), solos miss out on an opportunity to improve their practices….
There seems to be a general lament among the elder generation of lawyers in regards to the quality of new law school graduates. Simultaneously, there is also a cacophony of complaints from recent law school graduates about the general state of the legal profession and the dissonance between what they felt they should have received from their law school education. See all the assorted “scamblawgs.”
The older generation’s complaint seems to be that Gen Y grads are, well, complaining too much. Gen Y needs to strap on their big-boy (or girl) pants and get on with it.
Gen Y grads seem to be saying they just haven’t been given the opportunity…
Over the last few weeks, I have been researching law firms and businesses with in-house legal departments. I checked each firm to see if they hired anyone from my alma mater or a comparably ranked school. I also checked the firms’ rankings both in certain specialties and their overall profitability.
Then I tried something more difficult – finding employee turnover rates and overall employee satisfaction. This information is important to me but is pretty much impossible to get without deeper digging and contacting people. The career counselor I talked to gave me some names of people who may be able to get more detailed information. If there was one thing I learned in law school, it was to find the negative information yourself because you should never trust the numbers on a company’s sales presentations and recruiting materials.
After the jump is a small sample of the prospective firms I researched, listed in no particular order.
Every couple of months, I get a legal technology newsletter that mentions the Word vs. WordPerfect debate. It’s not so much a debate as it is a handful of lawyers arguing with everyone that WordPerfect is better than Word. I’ve had this discussion in person multiple times before as well. A few months ago, an attorney tried to convince me that WordPerfect is better because you can press ctrl+c and ctrl+v to copy and then paste text. People usually bring up that federal courts require proposed orders to be in WordPerfect format (although this is no longer true). No matter what the argument is, there is usually some name calling.
WordPerfect is like Latin. It’s dead and used only by lawyers. When I see people arguing why WordPerfect should still exist, I always picture that person as someone who still has a Gore/Lieberman bumper sticker on their car. It’s over. Decisively over. It is the betamax of word processing software. It has lost the race.
Most people have moved on from WordPerfect for the same reason that language was invented in the first place: to communicate with others. You cannot share .wpd files with people outside your office. Unless you represent Corel, your client probably has Word. Sure you can open a .wpd in Word or save a WordPerfect file as a Word document, but the formatting is so screwed up that it’s usually unusable as a pleading. And, sure you can save it as a .pdf, but then you might as well print it and scan it.
Here are the arguments that I see every time on this issue:
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
Whether you’re fresh off the bar exam or hitting your stride after hanging a shingle a few years ago, one thing’s for certain: independent attorneys who start a solo or small-law practice live with a certain amount of stress.
Non-attorneys would think the stress comes from preparing for a big trial, deposing a hostile witness, or crafting the perfect contract for a picky client.
But that’s nothing compared to the constant, nagging, real-life kind, the kind you get from the day-to-day grind of being a law-abiding attorney.
Connecticut plaintiffs-side boutique litigation firm (12 lawyers) seeks full-time associate with 2-4 years litigation experience, top tier undergraduate and law school education. Journal or clerkship experience a plus; highest ethical standards and strong work ethic required. Familiarity with Connecticut state court legal practice is preferred, but not required.
The firm handles sophisticated, high-end cases for plaintiffs, including individuals and businesses with significant claims in a wide array of matters. Our cases often have important public policy implications, and are litigated in state and federal courts throughout Connecticut. Representative areas of practice include medical malpractice, catastrophic personal injury, business torts, deceptive trade practices and other complex commercial litigation, and products liability.
Additional information can be located on our website, at www.sgtlaw.com.