January 30, 2011

Continuing Legal (but not really) Education


I spent a summer interning for the good folks at the Department of Housing and Urban Development while still in law school.  At the end of it all, a couple folks chipped in and gave the other interns and me a gift card to Borders.

Years later, I found it in my desk drawer and thought I'd better use it since more than half of the value had disappeared (d'oh).  I spent a great deal of time thumbing through the books I found even mildly interesting.  Naturally, I went to the law section first.  The shelves were filled with do-it-yourself books aimed for non-lawyers.  Now if there's one thing law school taught me, it was how to research.... and all my research lead to one conclusion.  I had to get out of the legal section.

That's when I went to the small business section.  That's the point for today's post: law school didn't teach me how to start a solo practice.  My tax classes never taught me how to make profits and where to reinvest them. So I got a copy of Profits Aren't Everything, They're the Only Thing by George Cloutier.  It's a great short read that opened me to the business world in a way that law school lacks.

I plan to revisit the small business section aisle of the book store soon.  The bar requires us to continue our legal education, but as solo practitioners, our business education must continue as well or face a painfully slow failure.

January 26, 2011

Problem Spotting vs. Problem Solving

I think he wants us to SOLVE the problem
As a recent law grad myself, I know from experience how shitty it is out there.  I can't go anywhere without being reminded of how law school has lied to us or getting an email about the law school bubble.  I feel terrible for a lot of my peers who face much worse situations than I am and I'm thoroughly disgusted at the ranking "game" all the schools play.  I have recently stumbled on the dozens of "scam blogs" blasting law schools for misrepresenting their numbers and aggressively recruiting students while tripling their tuition rates from only a decade ago.  I support more transparency and believe that light is the best disinfectant.

With all that said, suck it up and move on.  There is NO EXCUSE to act.  Obviously, starting a law practice takes all shapes and forms, with an infinite number of ways to customize it to fit you personally.  No matter how you start your own law practice, you need to focus on profits and HOW to make them.  Just because the job market is weak doesn't mean there isn't room for good, hard-working lawyers.  I hate the "pull yourself by the bootstrap" story too, but if you are going solo, there's no other way.

When I entered law school, I never thought I would have an easy life.  Honestly.  I knew this type of work involved working on weekends (gasp!).  It also meant working past 5pm (double gasp!).  Don't misunderstand me, I am fed up with the system.... Which system?  All of them.

I see problems everywhere, but I want answers.  Preferably answers that I can implement today and will directly benefit me today and in the future.  Is that a reason to start your own law practice?  Certainly, but it's only one ingredient for running a successful business.  I stress business because that's what going solo is and it's what law school doesn't educate you in doing well, if at all.

I say all that to say, just because the economy is bad... or the job market is bad... or whatever other bad news you come across, there are still clients out there that need legal advice and they will pay good money for it.  There is always business in providing solutions to people that see nothing but problems.

January 21, 2011

Keep Your Blade Sharp

Don't find yourself on the wrong end.


So, I'm about two weeks away from the grand opening.  Whoa, I just thought that all nonchalantly but that's a big deal.  And if somehow there's SOMEBODY out there reading this, I really hope you are on the way too.  

The reason for this post is about what I'm doing in the meantime.  A great friend of mine just supplied me with a header image for my website and also a symbol-type trademark.  This will go far with creating an identity for the practice, such as using on business cards, letterheads and every form of advertising.  

I have most of the foundation laid, so what now?  Keep sharp!  I have volunteered for CARPLS, a Chicago-based lawyer referral service that also provides advice over the phone to low-income people.  I have already completed the bulk of my training and so far it's great.  I am really enthusiastic about helping those who really, REALLY need it.  But I can't be too modest!  There's another reason I'm doing it.... to build my client skills.  This won't be a one-off type of training.  Handling clients confidently and professionally takes more than a couple weeks to accomplish.  So take all the training you can, especially when you can get free CLE credit for it.

If you're in the Chicago area, check out the website here:  http://www.carpls.org

Until next time, stay sharp!

January 11, 2011

Do the Hustle!.... ♫ do do dooo do do doooooo do do do ♫

Everyday I'm Hustling.

Thomas Edison once said:


Everything comes to him who hustles while he waits.


So today's post is about just that.... hustling while you wait.


I'm about one week away from signing the lease to that office I wrote about earlier.  I already have the address I plan on using, but I don't have the telephone and fax number to the office yet.  So... I have to put a lot of things on hold, like business cards and other marketing efforts.  


That doesn't mean I can't hustle while I wait.  I set up my practice's website (which I'll post later).  I also thought of some marketing techniques that I've been researching (will post later, too).  There's still a lot of things to do as well.  Organizing a new law practice requires notifying the State Bar and learning about IOLTA.  


Most importantly, I've been thinking about the day-to-day.  Making intake forms, deciding what order to handle the initial consultation and how to follow up on them.  Writing receipts for payments (I got a receipt book from Staples).  


I don't know if anyone reads this blog, but one of the main reasons I write this is for me to organize my thoughts, know where I am now and where I have to be in the future.  Remember when our law professors told us the best way to study is to teach it to someone who doesn't know anything about law?  Well, kind of the same principle for starting a law practice too.

Today's piece of advice:  Hustle while you wait.  Small steps lead to giant leaps.


Genius is one percent inspiration, ninety-nine percent perspiration.  - Thomas Edison