AttorneyMentoring.com Going Solo

Starting Out

In deciding whether to start your own firm, you might consider some of the
following questions:

Do you like to work independently? Are you a self-starter?
Is this choice being driven by desperation or a genuine desire to
work independently? Are their other options that might better serve
your needs, career, lifestyle, or personality?
Are you skilled at marketing yourself? What are your strengths and
weaknesses?
Do you believe you have enough expertise or a loyal client base that
can be serviced by you as a standalone lawyer?
Who are your target clients? How do you plan to grow your practice?
What are your professional goals and how will starting your own
practice fulfill those goals?
Do you have the financial resources to support yourself until your
practice grows into a self-sustaining business?
Are you able to work with limited resources?
Are you a good problem solver?
Do you really want to practice by yourself?
Who is your competition? What will be the basis of your competition
(e.g., price, quality of service, type of service, location, etc.)

After answering these questions, it is highly recommended that write a
business plan even if you do not need to raise any financing for your start up
costs. When you force yourself to sit down, conceive of the business and
cost out the start-up expenses, you may be surprised at the magnitude of the
endeavor. If you can persevere through the process of developing a
business plan, you are probably as ready as you will ever be to start your
own business. Below are several useful resources developed by
AttorneyMentoring.com to assist you with your business plan:

Additionally, there are numerous resources online to help you draft your
business plan, including:

We also recommend that you contact your local and state Bar Associations.
Most of them have resources and checklists for starting your own firm. For
example, the Bar of the City of New York maintains a Small Office Law
Center section on its website that provides useful advice and even
temporary conference and workspace. The Small Office Law Center has a
section entitled "Getting Started", which includes a useful checklist for
starting your own firm. The State Bar of California offers a handbook entitled
Opening a Law Office: A Handbook for Starting Your Own Business. The
Texas State Bar also offers several resources for starting your own practice
through its Law Practice Management Section. The American Bar
Association also maintains a General Practice, Solo & Small Firm Division.

Your local, state and national bar associations generally offer discounted
resources for professional liability insurance and related services. Many
also offer form documents that you can access for free such as engagement
letters (as may be required by each state bar) and other forms of
agreements that you may need for your practice. You should consider listing
yourself in their referral services. Microsoft Office Online website also
provides useful billing and other templates for corporate lawyers and
litigators on its Work Essentials page.

Alternatively, you can visit your local Small Business Administration office or
visit the national website at http://www.sba.gov/. Various legal websites also
offer advice and content for starting your own business.

Click hereto read more information on selecting your business entity, setting
up your office, promoting your practice, basic legal forms and billing. Please
also read our Build a Law Practice material.

Overdue Accounts?

It is recommended that you follow these
procedures when calling your clients
regarding overdue invoices. It is also
recommended that you delegate the
account call to an assistant or
accountant in the first instance to
preserve client relations and follow up
personally when the account has
exceeded 60 days or more. Here is a
checklist of appropriate procedures for
contacting overdue accounts.

1.        Check the original invoice for
accuracy (including amount, address,
date, etc.).

2.        Confirm the name of the
responsible party in charge of paying
invoices.

3.        Call and note that the invoice is
overdue (by x days) and request payment
by a certain date. Be sure you are talking
to someone who can make a
commitment. Do not make a demand for
payment if the individual you are
speaking with is not responsible for
Accounts Payable. If asked for the
purpose of your call, state that it is in
reference to an “open invoice”.

4.        If you reach the right person, ask if
another copy of the invoice is needed.
Offer to work with the customer if they are
having cash flow problems. For
example, suggest partial payments over
some time.

5.        Create a sense of urgency.

6.        Always be polite and courteous.

7.        If you cannot reach the person,
leave a detailed, complete message on
voice mail or with the person taking the
message.

8.        If the party cannot pay the entire
amount, try and arrange for a payment
schedule and secure an initial payment
by a date certain.

9.        Keep a record of the calls.