Should I start my own law firm/practice? This question might have crossed your mind at some point as a lawyer. However, it's easier said than done. Wondering if anyone would be interested and ready to take a plunge in starting their own Law Firm?
Have you ever visited Jangpura or Nizamuddin or Defence Colony or GK I/II or Safdarjung in New Delhi? These addresses are littered with with “boutique firms” that no one has ever heard of, that many may never even come care about! Lex This, Lex That, Lex Tim, Lex Gin... these name have made this dhanda a friggin joke.
Here's some quality perspective for you. Before starting/ manifesting, ask yourself - what sort of boutique firm do I aspire to become? Do I have the credentials and experience to take this plunge or get the work I want? Do I have enough work to operate a credible establishment? - note - this is very different from earning comfortably or even well for yourself! Soundboard with professionals who are in the game already.
It could be that it's too early for you - because you don't have a network, or know people in different businesses that could be potential clients for your practice, or have the character or talking skills for relationship building and business development, or patience to deal with irate, or non-paying clients, or act as a servant-leader, or know how to market your legal services, or know what sells in the legal industry, or know how to price your services.
If you know the answers to each of the above and you have a retainer or two to start with, or if you have enough capital to sustain you for atleast 3 years, then take the plunge and never look back.
Here's some quality perspective for you. Before starting/ manifesting, ask yourself - what sort of boutique firm do I aspire to become? Do I have the credentials and experience to take this plunge or get the work I want? Do I have enough work to operate a credible establishment? - note - this is very different from earning comfortably or even well for yourself! Soundboard with professionals who are in the game already.
It could be that it's too early for you - because you don't have a network, or know people in different businesses that could be potential clients for your practice, or have the character or talking skills for relationship building and business development, or patience to deal with irate, or non-paying clients, or act as a servant-leader, or know how to market your legal services, or know what sells in the legal industry, or know how to price your services.
If you know the answers to each of the above and you have a retainer or two to start with, or if you have enough capital to sustain you for atleast 3 years, then take the plunge and never look back.