Most days, I’m proud of owning my own small law firm. And while technically, I’m not a solo — I’ve had an assistant for over eight years now as well as a revolving crew of of counsel, part-time associates and independent contractors — many of my colleagues lump me and most very small law firms into that category nonetheless. So when other solos act foolishly or unprofessionally, it reflects poorly on the rest of us.
Understand, I’m not picking on solos. Let’s face it — large law firms are hardly paragons of upstanding conduct; one needn’t look further than the recent Dewey & LeBoeuf scandal as proof. But for whatever reason, when Biglaw behaves badly, that conduct doesn’t diminish the reputation of Biglaw in the eyes of judges and other lawyers as it does for solos.
So that’s why it bugs me when solos do stupid — and often avoidable — things. Here are my top three peeves:
Ed. note: Please welcome Shannon Achimalbe to Above the Law. Shannon will be writing about the journey from solo practice to a larger law firm.
Five years ago, I started my own practice. I thought it would get me out of my comfort zone, nurture my entrepreneurial skills, give me the flexibility to choose my hours and clients, and eventually become the type of lawyer I wanted to be. But over time, it became clear that solo practice was not going to help me achieve my goals and had even created some new problems. After heavy soul searching and consultation with others, I decided to search for a job and eventually shut down my practice.
I plan to do two things with this column. First, I want to document my job search. I am writing anonymously because I don’t want anyone interfering and helping me. I want my experience to be no different than anyone else doing the same…
Let’s say that you started your law firm a year ago, and your business is finally humming along. Meaning that while you’re not taking home a six-figure income, you’re no longer terrified of not making rent. But lately, you’ve noticed that you’re working more late nights and weekends than you’d like, just to keep pace with the steady influx of cases, law firm administration, and ongoing marketing efforts needed to feed the beast. Or, perhaps you’ve let your marketing efforts (like networking events, lunches, and blogging) slide because you can’t fit them into your schedule — but you fear that you’ll pay the price later when business slows. Or maybe you wind up working after hours simply because you’re too distracted by client calls and emails during the workday.
Back in the day when I started out, most solos who found themselves in this situation would either (1) suck it up and work more or (2) hire a newbie lawyer, paralegal, or receptionist, even though they might not have the revenues to cover a full-time employee. And in an extreme situation, some overworked solos simply stop returning client phone calls or timely filing motions due to lack of time and got hit with bar grievances. Today, however, solos experiencing growing pains have far more options to manage workflow and help transition to the next level. I’ll explore some of those options, along with the respective pros and cons, in this post…
It’s one thing to say that you bill at $200 or $500 or $1,000 an hour; it’s another to actually collect those fees. Every time a client fails to pay a bill, you’re effectively discounting your overall rate. And while writing off $500 here or there may not seem like much, over the course of the year it can amount to several thousand dollars – which doesn’t take into account the added cost of chasing down clients to collect from them.
Of course, the best way to avoid getting stiffed is to obey Foonberg’s Rule: Get the money up front. Unfortunately, sometimes, you can’t predict the full cost upfront – and if the expected bill is mid-five figures or more, a client simply may not have that kind of money all in one place. Moreover, taking payment up front won’t guard against a client asking for a refund down the line if you haven’t vetted the client properly. So beyond upfront payment, here’s a list of tips to avoid getting stiffed:
I like to say that I went solo because I had no other options — but I chose to stay solo when I started a family.
I started my law firm at the end of 1993 because I’d been downsized for economic reasons and couldn’t find another job. Three years later, the economy picked up and job offers came my way — but I was newly pregnant, and the prospect of the 50-hour work week that one of my prospective employers described didn’t interest me at all. So I figured that at least for the time, I’d remain solo because I was certain that working for myself was the best option for raising children.
Fast forward seventeen years, and my conviction that solo practice is a family-friendly work option is no longer as black and white as it was back then before my daughter was born. That’s not to say that I regret my decision – because I don’t. But here, on the other side of child-rearing — with one daughter in high school and the other on the cusp of college — I’ve realized that there’s really no easy or perfect solution to balancing work and family — whether you’re a solo or a big-firm attorney. All you can do is evaluate the facts and make the best decision for yourself and your family based on the facts in front of you.
Of course, when it comes to research about work-life balance, that’s where things get tricky….
Earlier this week, Carolyn Elefant questioned the value of joining bar associations. Particularly their value in generating business for solo and small firm practitioners. Elefant found bar associations lacking in regards to business development, and generally seemed sour on participation in bar associations for smaller firms. Though she did note a few exceptions:
“I’m not suggesting that solos and smalls steer clear of bar membership entirely; after all, bar associations provide a myriad of practice benefits including substantive information on practice trends, affordable continuing legal education (CLE), and advice on starting and running a law practice.”
While I’m inclined to agree with Elefant regarding the operation of small firms most of the time, in this instance, I have to disagree….
Conventional wisdom says that solos and smalls should join a bar association — either the American Bar Association, a state or local bar, or a practice-specific bar (such as an association of telecommunications or criminal defense or real estate lawyers) — as a way to generate clients. Here’s but one recent article that recommends pounding the pavement at bar events to find clients.
I’m not suggesting that solos and smalls steer clear of bar membership entirely; after all, bar associations provide a myriad of practice benefits, including substantive information on practice trends, affordable continuing legal education (CLE), and advice on starting and running a law practice. But if lawyers think that they’ll find business through bar membership, most are sure to be disappointed….
Across the 195 law schools in the 48 contiguous states and Hawaii fully-accredited by the ABA’s Section for Legal Education and Admissions to the Bar as of 2010 (thus excluding Belmont, LaVerne, California-Irvine, and Massachusetts-Dartmouth) the entering first-year class average LSAT profile fell one point at all three measures between 2012 and 2013, from 159.6/157/153.5 to 158.6/156/152.5. The entering first-year class average LSAT profile fell roughly two points at all three measures between 2010 and 2013, from 160.5/158.1/155.2 to 158.6/156/152.5.
The average decline in median LSAT scores between 2012 and 2013 across U.S. News “tiers” of law schools was .98 among top 50 schools, 1.18 among schools ranked 51-99, .72 among schools ranked 100-144, and 1.13 among schools ranked alphabetically.
Which made me want to revisit a post on Associate’s Mind from last year, Top University Students Avoiding Law School, to see if that trend was holding true in light of the above data. The results? See for yourself….
Biglaw partners from international firms don’t like to lose cases — especially not to solo practitioners. Biglaw partners think they own the world, and to lose a case to a lowly solo practitioner would likely bring shame to their firm and force them to commit ritualistic seppuku-style suicide in an attempt to regain their lost honor. (No offense, solos, but we imagine Biglaw partners’ horses are quite high.)
Watch out, solos, because you’ll get absolutely no love from Ho-Love if something like this were to happen. You might get stepped on — literally — and even get slapped in the face with a briefcase…
How much do you think it costs to kill a lawyer these days? Would it depend on the lawyer’s pedigree and prestige? How big is his book of business? Does he wear a pocket square?
These are just some of the important questions that factor into the price for a lawyer’s head, and if we had to guess, we’d start the bidding at about $75,000, since that’s likely what the very average lawyer who’s been practicing for a while could expect to earn in a year’s time.
Using that number as a starting point, if you found out that someone you loved wanted to kill you and offered just a measly $1,000 to the contract killer, you’d probably be insulted. But wait — what if she also offered sex as an additional incentive to “blow [your] brains out”?
Honey, no offense, but you really aren’t that good of a lay….
If you are considering a virtual law practice, you know that many of today’s solo firms started that way. But why are established, multi-attorney law firms going virtual?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Reduces malpractice risk
Enables you to gather the best attorneys to fit the firm, regardless of each person’s geographic location
Leverages mobile devices and cloud technology to enable on-the-spot client and prospect communication
Transitioning in-house is something many (if not most) firm lawyers find themselves considering at some point. For many, it’s the first step in their career that isn’t simply a function of picking the best option available based on a ranking system.
Unknown territory feels high-risk, and can have the effect of steering many of us towards the well-greased channels into large, established companies.
For those who may be open to something more entrepreneurial, there is far less information available. No recruiter is calling every week with offers and details.
In sponsorship with Betterment, ATL and David Lat will moderate a panel about life in-house and we’ll hear from GCs at Birchbox, Gawker Media, Squarespace, Bonobos, and Betterment. Drinks, snacks, networking, and a great time guaranteed. Invite your colleagues, but RSVP fast, as space is limited.
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.