I find that this is due, in large part, to the type of clients that hire me.
Oct 29, at This means that I had no associates nor support staff. I had a small number of clients with relatively simple matters, so I had no need for such solo practitioner business plan.
But later, I got a part-time assistant who handled the mail, deposited checks, and called a client from time to time. She is still with me today helping me close up my existing cases. Solo practitioners and small partnerships seeking a lucrative practice will eventually have to hire employees, or at the very least, part-time contract workers, in order to expand.
At some point, the grunt work becomes too burdensome for the solo to handle alone. The legal assistant or paralegal will handle the usual office paperwork and logistical client calls while the associate is in charge of smaller cases.
Some pure solos want the lucrative practice without the hassle and potential liability of employees. Some pure solos are not interested in practicing law full-time. They might be enjoying a side job. Or the spouse is the main breadwinner of the family and the children or elder family members have to be tended to.
Since they are working part-time, they will have few clients and will not need employees.
If you are happy working part-time, then by all means, go for it. Because your income will be a lot lower than a full-time solo, you probably cannot afford to pay for business development expenses and a legal research subscription.
So it may be better to work part-time for an attorney instead. In exchange, these ten lucky souls would have unfettered access to her for legal work.
Sounds simple enough, although this sounds similar to a pre-paid legal services plan. Since she has so few clients, she can probably work from home and visit the clients instead.
A few issues though. The potential clients who might be able to pay this are midsize businesses and wealthy individuals with complex legal problems.
Third, even if you find your 10 magic clients, you will still have to troll for business to replace the ones who will eventually fire you.
If it gets to be too much for you, you may need to hire staff to help you. Such clients should be easier to find. Having 20 or more clients can get complicated. But once you have 20 clients, you may need to consider getting a separate office.
Assuming you have to meet with each client once per month, it will probably be inefficient to drive to their home or place of business. Managing 20 clients could be done without help so long as an efficient client management system is set up.
I will conclude by saying that it is possible to make decent money as a true solo but unlikely. The point is that while being a true solo will avoid employee headaches, it also comes with a cost. Since you are doing everything yourself, you will have no time for business development or improving your skill set because you will be spending that time doing work that an associate or assistant should be doing.
Shannon Achimalbe was a former solo practitioner for five years before deciding to sell out and get back on the corporate ladder. Shannon can be reached at sachimalbe excite.A Solo Practitioner’s Cautionary Tale I started by purchasing some business cards, setting up a basic website, and sharing an office with a .
The Complete, Yet Simple, Marketing Plan for Solo Tax Practitioners February 28, May 26, NSAmainstreet communication, Jassen Bowman, marketing, practice management, tax practitioner Being a solo tax practitioner is one of the most challenging ways to operate any business.
Park Square Family Medicine family medicine clinic business plan executive summary. Park Square Family Medicine is a start-up medical clinic. Park Square is one of several new rural clinics being opened with support from the regional hospital.
Getting a solo business off the ground takes more than a great idea. Like any start-up, it takes a specific, concrete business plan that includes your goals for . The solo practitioner can choose other business formats, such as a limited liability company or a corporation.
Illustration. Jane is a licensed chiropractor. She opens her own business and acts as. A home office is one of the most practical and economical options for a solo practitioner. If you have the self-discipline to work at home, this option may be ideal for several months while you build your clientele and invest money in business development opportunities.