If you have decided that the time has come to start your own law practice, you are probably feeling a mixture of anxiety and excitement. While taking the first steps towards going solo as a lawyer can be scary, they can also be amazing – finally, you are getting out there on your own.
When it comes to starting your own law practice, there are some things that it is important that you know. To ensure that you are up to date with everything that you need to know about going solo, we have created a simple guide.
To find out more, keep reading, below:
Understand that you will have lots of paperwork to do.
Just like with any business, running your own law practice will mean that you have lots of paperwork to keep on top of. Don’t make the mistake of getting behind with this, as it will build up quickly, leaving you with lots of extra work to do.
When it comes to going solo and running your own law practice, the paperwork side of things can be a little stressful. However, there are plenty of ways that you can ensure that you keep on top of this.
You will need an office
To successfully go solo as a lawyer, you will need an office. This can either be at home or in a commercial building, you will just need to have somewhere to work.
If you choose to work from home, you need to ensure that the deeds of your property, or your landlord, don’t have anything against it. Some landlords won’t allow tenants to work from home, so make sure to double check this, beforehand.
Do lots of research
Before you start running your own law practice, it’s a good idea to do some research. Get in touch with other lawyers who work solo and ask them how they find it, is there anything that they would suggest you do?
As well as contacting other lawyers who work solo, have a look at Sam Tabar’s blog that has been created especially for solo lawyers. The site has lots of useful articles, tips and advice for lawyers who have decided to go solo, so is worth taking a look at.
You will need an accountant
Unless you are good with numbers and have the time to deal with your own accounts, it’s important that you hire an accountant. As a lawyer who works solo, it’s your responsibility to ensure that you keep on top of your accounts and make payments at the right time.
If you forget to make a payment for taxes or fail to keep on top of your business accounts, you could end up in a lot of trouble. So it’s a good idea to hire an accountant to ensure that you keep on top of your accounts.
Taking the step to go solo and start your own law practice is a big step, but it’s a great idea. Just make sure that before you take that step, that you know what you are letting yourself in for, and what working solo entails.
