There are some reasons an attorney may want to start their practice. From trying to escape the high pressures of working at a large law firm, to needing to spend more time with the family. Whatever the reason, there are some mistakes that can be avoided if you take the time to do things right.
Starting your practice as a last resort is not always the best decision. Building a new firm takes a lot of work, energy, and financial investments. Many attorneys have decided to start their practice because they have been unable to find work due to the U.S. economy. While you may find success starting your firm, be prepared to work hard for that success.
There is also more to starting a solo practice than simply finding clients and presenting their cases to the court. While attorneys are well versed in the law, many don't have the knowledge needed to run a business. One of the first things that should be done is to speak with an experienced accountant to gain an understanding of business structures and tax issues you will be facing. You will also handle acquiring your malpractice and health insurance, both of which are supplied by large law firms.
Finally, once all of the papers are signed, and the practice is up and running, you will have to find your clients. There are some ways to do this from obtaining referrals from friends and family to attending networking events. Beth Manville Perkasie PA , an attorney originally from Perkasie, PA started her private practice in Seattle, Washington.