For many reasons, opening a solo practice is more popular among practicing attorneys than ever before. Whether you just need a change of pace or you’re struggling to find satisfaction at your current firm, you might be thinking about opening up your own shop. At Protexure, we pride ourselves on being advocates for the solo and small firm. If you’re preparing to fly solo (or just feeling entrepreneurial), check out some of our most useful startup tips below.
1. Control your overhead costs
As reflected in a previous post, one of the first decisions you need to make when you open any law firm is what type of infrastructure you want to implement (check out this post for details). If you’re just starting out and want to keep costs at a minimum, choose a home office setup. This will avoid costs related to rent, operating expenses, and may save you some money on your taxes. Try to let your firm grow naturally, by hiring staff only when business picks up enough to make it necessary. Patience is huge in any small business, but it is especially important in a solo law practice.
2. Take advantage of online marketing
The best thing about marketing in the 21st century is that it can be done less expensively and more effectively than ever before by taking advantage of the internet. Content marketing through blogs is an effective way to spread your message. Many small businesses attempt to take advantage of online marketing, but they sometimes miss the target with the content they put out. Your marketing campaign must highlight your knowledge of your area(s) of practice and your willingness to help potential clients. To start out, create a free blog on a site like WordPress, Blogger, or Weebly, and write articles answering the questions you get asked the most. Promote your blog through other social media networks and direct email advertising, and reach your target audience. (We will discuss Small and Solo Firm marketing tips in more detail in a future article)
3. Don’t be afraid to get started
Diligence is key, and you don’t want to rush into anything without the necessary planning. But, some solo practitioners are understandably reluctant to make the leap after doing the necessary amount of planning. Gather the equipment you need to get started (a computer, printer, scanner, practice management software, etc.) and go for it!
If you are a small Firm or solo practitioner seeking Professional Liability Coverage, we are here for you! Please visit our website (www.protexurelawyers.com) or call (877) 569-4111 for a Quick, Free Quote. Our policy rates are extremely competitive and geared towards the needs of small Firms and solo practitioners. Don’t forget to Like us on Facebook, Follow us on Twitter, and, as always, follow this WordPress Blog for the latest news, tips, and guides for small firms and solo practitioners!