After law school what next?
Annually, law students graduate out of law school with different prospects of finding their place in the legal world. They try to make their mark in different aspects of the legal profession and use the knowledge gained from school. However, they are mostly discouraged from running a law firm because they are often seen to be inexperienced and ignorant of the combination of business and law that involves running a law firm.
Another category of those who seek to start running their own law firm are those who have worked with other law firms. This category of people experience dissatisfaction and limitation in the law firm where they practice and they wish to start running their own law firm. They understand that running a law firm of their own would give them the liberty to determine how the law firms would run and function.
Most people who want to start a law firm are faced with small minded people who do not see the prospects or the vision that people who want to start law firm carry as a result of this, they attack the idea. However, by proper study and understanding of how to start running a law firm, a lot of people have recorded success in successfully running a law firm.
Lawyers who started law firms had the right level of determination, more information and did loads of hardwork in running a successful law firm from the very beginning.
How Does One Successfully Run A Law Firm?
- Surround Yourself With The Right People
In starting something as important as a law firm, you have to have the right people around you. People who can advise you, push you and guide you in running a law firm are those who should be around you. By surrounding yourself with the right people and the best lawyers you can find, you get the right information and knowledge.
This also includes having the right staff. Though there are law firms that started by running solo and at this level nobody expects you to have a lot of staff on your payroll. However, that which two or more people can achieve together is too enormous for one to run solo especially for a long time. A simple rule to this is to get as much help as possible.
- Study From Others
There is always someone who has done something that you want to do; someone has started a law firm from the scratch before. So get advice from such people on the crucial steps that they took in getting their firm together. After doing that, build your own law firm with its own uniqueness.
- Build A Realistic Budget
Running a law firm is costly, most law firms that failed at the beginning failed due to poor budgeting skills. As a starter, try to get your materials on a low-budget level. Use marketing platforms that do not cost too much to advertise your law firm also.
- Build A Niche
Starters make the mistake of not defining their specialisation in the legal market, they just stumble on anything and everything. If you are going to run a law firm that would stand the test of time, building a niche is of utmost priority. Are you going to specialise in business law or estate planning? Or is your focus on family law or real estate? Are you passionate about criminal law? Choosing a niche helps in the proper running of a law firm.
However, in the long run, the law firm can begin to address more general legal matters.
- Get The Right Location
Running a law firm involves situating it in the right place especially with consideration of one’s niche. The right location can be a real game changer to the start off a firm as it would facilitate the turnup of one’s target client and help ground the law firm around the right legal market.
- Invest In Getting A Standard Library
The best lawyers understand that the heartbeat of any law firm is in having a good library. In running a law firm, you need to be informed and updated about the happenings in the legal profession and have a wide range of resources to fall upon especially when the going gets rough. A good library is the brain of any good law firm and investing in it would add tremendous value to the firm.
- Acquire Clients
The essence of a law firm is to provide legal services to a particular set of people. Without people, there would be no service for the legal practitioner to provide. In client acquisition, technology needs to be properly maximised in marketing the law firm and advertisement. Building a website is also very essential in acquiring clients because the internet is a place where people go when they need services. Having a good and easily accessible website for running a law firm is very important in helping you to acquire clients.