Going Independent? Avoid These 3 Common Mistakes
Question:
I’m mostly happy at my firm, but lately I’ve been
considering going independent for a number of personal and
professional reasons. To make this transition a success, I’d love to
know what are the most common mistakes that legal professionals make when
they decide to become a legal consultant or work on a contract or project
basis, and how to avoid them.
Answer:
Working on a contract or project basis is an
excellent way for legal professionals to attain better work-life balance while still being engaged in their
chosen field. To get the most out of this new chapter in your career, avoid these mistakes:
Mistake #2: Mixing personal with
professional. As a first-time consultant, it might be easy to sign on
family and friends as your initial clients -- or use your
personal social media accounts to market your fledgling business.
But going down this path can get messy.
Solution: Keep it separate when
going independent. While you’ll need an online presence, create separate
profiles for your professional persona. Rethink doing legal work for
family and friends, as the awkwardness may not be worth it. Have a
dedicated office space as well as separate bank accounts for business expenses
and payments.
Solution: In an age when laws are more complex than ever, having an area of specialization is a great way to stand out in a crowded market – and it’s a good business strategy. Specializing makes it easier to brand your services; this is how boutique practices compete with large law firms. So, if you’re interested in personal injury law, for example, don’t take on trust and estates work.
Rebranding yourself as a legal consultant is an excellent career choice for those who desire greater flexibility and have an entrepreneurial spirit. To maximize your odds of success, incorporate these best practices.