The Florida Bar YLD has launched a new website, “How to Start Your Own Law Firm,” at startmyfloridalawfirm.com.
The YLD created this resource for the increasing number of young lawyers going solo. Wanting to go solo is easy, but launching your own firm is not. Where do you start?
Begin with the following ten easy steps outlined at startmyfloridalawfirm.com, which breaks down the process of going solo:
- Step 1: Commit to Going Solo. The first step is committing to going solo. If you are unsure whether going solo is right for you, we have compiled a list of resources to help you.
- Step 2: Corporate Structure. Choosing a corporate structure for your firm is an important decision and there are a number of options. We give you the breakdown of options approved by The Florida Bar.
- Step 3: Office Space. Do you want to rent space, share space, buy a building, or go virtual? Are you sure? We provide you with the pros and cons of each choice.
- Step 4: Practice Management. Opening a law firm is easy; successfully managing a law practice can be difficult. Learn about resources available to make managing your firm easier and more cost-effective.
- Step 5: Business Generation. Every lawyer wants client, but how do you find them? Check out these helpful suggestions to turn you into a rainmaker for your firm.
- Step 6: Trust Accounting. Failing to comply with trust accounting rules can result in disciplinary complaints. Take trust accounting seriously and learn the rules.
- Step 7: Other Law Firm Tech. Check out the variety of products and services available to streamline your practice and make it more profitable.
- Step 8: Necessary Documents. Not sure how to draft fee agreements? Client intake forms? Check out these helpful suggestions.
- Step 9: People Management. We have compiled helpful suggestions on managing opposing counsel, clients, and when to add employees.
- Step 10: Other Special Resources. Check out these other special resources we believe you will find helpful.
After following these steps, you will be well on you way to going solo. Please share this resource with your colleagues and good luck with your new firm!