Jul 24, 2022
In the legal profession, AmLaw100 law firms get most of the attention. With eye popping salaries now being given to first year associates, it is easy to conclude that getting one of these jobs means you are at the pinnacle of the legal profession.
While starting your career at a major firm has a lot advantages salary, and otherwise, the open secret is that many lawyers who work at these firms will end up leaving by the time they are midlevel associates. Some will go in-house, some will go to the public sector, and others will go to smaller firms.
I’ve spoken to many lawyers who have stayed and continue to have fulfilling careers. But in my experience, many of these lawyers are much happier after they leave.
And the happiest lawyers are attorneys who have gone in-house or who have launched their own practice.
In this episode, we talk about the latter.
The decision to open your own practice is a daunting one. Lawyers as a group are somewhat risk averse. But it has never been easier to operate on your own or in a small partnership. Technology has made that so much easier.
And I can say as a solo entrepreneur myself, that the rewards are many.
Setting up your own shop requires a new mindset. Launching the practice is the first hurdle. But at some point, most lawyers want to grow or at least make their firms more profitable. Part of that is finding ways to generate more revenue. But another big part of that is finding ways to operate with greater efficiency. Setting up better systems is important as companies grow and law firms are no different.
In a great conversation, Mark Rockwell,talks about how to do that.
Coach Rockwell, works with lawyers who are frustrated by their inability to scale up and become more profitable. He helps them create their vision, and implement an operating platform that builds healthy, thriving law firms. He is a graduate of Willamette University College of Law, and Northwestern University, Kellogg School of Management.
Mark is both an attorney and entrepreneur. He has started and grown several companies during his career, and he has struggled with the same frustrations and setbacks all lawyers and business owners experience.