Signs it’s Time to Open a Solo Law Practice

By Guest Blogger, Melanie Fischer

If you are an attorney who is currently working for firm or in a corporate environment, the thought of going solo might have crossed your mind once or twice. In fact, you might think about opening a solo law practice many times throughout your day. If you are contemplating going solo, how will you know when the time is right? Deciding to leave your current position is a big step, and one that should not be taken lightly. Opening a solo law practice is a huge undertaking, and making the final choice to leave your current job and open your own firm should be done when the time is right.

If you are looking for signs that it’s time to pursue your dream of opening a solo law practice, these are indications that it may be time to move forward with your plan:

• It is understood that opening a solo law practice will not be easy.
• You are organized.
• When it comes to practicing law, you have a high level of confidence.
• The thought of opening and running your own business is something that motivates you.
• Professional challenges are exciting to you, and you consider yourself an entrepreneur.
• You have identified the area of law in which to focus your solo law practice.
• There is office space that has been identified as optimal for running your solo law firm.
• The market in your geographic area is not already over saturated with attorneys who specialize in the same area of law.
• Advertising, marketing and networking are all part of your plan.
• Family and friends support your decision to go solo.
• Debt is a concern, and you have the financial resources to start your solo law firm without having to take too many loans.
• The financial risk associated with running a solo law practice is understood.
• You have a mentor or peers that you can tap if necessary.
• Devotion to the success of your firm is one of your top priorities.
• You know, without a doubt, that you want to be your own boss.

When it comes to attorneys, most fall into one of four categories in relation to a solo law practice. Which one, if any, describes you?

• A young attorney who wants to open a solo law practice when you are fresh out of law school.
• A mid-career attorney who has worked for a firm for many years, and you have finally decided that you want to hang your own shingle.
• An end-of-career attorney who no longer wants to work for a firm, but you want to keep working as a solo attorney.
• An attorneys who has never had the desire to open your own solo law practice.

Making a career change is never easy – especially for attorneys who want to leave a current and stable position. But, owning and operating a solo law practice might be something that you have always wanted. Being a solo attorney can be a rewarding experience that can launch you to a new level of professional success! If you know the time is right to make a change, now might be the time to go for it.