Thursday, October 29, 2009

"So You Want to Go Solo? You Sure?"

The November 2009 issue of the ABA Journal has an interesting article, written by Deborah L. Cohen, about "the tasks you need to master to live the shingle life." A portion of the article is reproduced below. Go here to read the entire article, and don't forget to read the comments for a few additional pearls of wisdom.

"As of 2005, some 62 percent of attorneys in private practice work as solo or small-firm practitioners, according to the most recent data avail­able from the American Bar Association. Those numbers likely have swelled and will continue to do so as law firms reorganize and re-evaluate their professional staffing needs.

What was once a calculated career decision has become a matter of survival for many. But wheth­er a lawyer can cut it as a solo is not necessarily a sure thing, experts say. Not all lawyers have what it takes.

There is no magic formula for building a successful solo practice. It takes planning, persistence, long hours, sweat equity and personal sacrifice.

So whether you’re in for the long haul or just staving off the bill collectors, here are some useful tips from experts and newly minted solos to help ease the transition."

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