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For all of you refugees from big-firm life, this is for you.
You’ve gone out on your own. Risky as it was, you spoke to your trusted confidantes, checked out your savings and did a gut check. And then jumped. You’ve been at it for a while now and it hasn’t been easy. Some months it’s feast and others it’s famine. Still, each month over time you have noticed that there is more left over in your checking account than there was at the end of last month.
You’re tired – you find that you can’t add more time to bill than that pesky 24 hour limit that there is to a day;
You’re lonely – gosh, it’s tough to not have anyone that is shouldering it there with you day and in and out. Of course, like belly buttons, everyone has an opinion, but theirs is an opinion with no skin in the game. Like a recent client told us: when it comes to bacon and eggs, the chicken is interested, but the pig is committed!
You want to grow, but even if you raise your fee, there is a limit to how much revenue is possible. True growth comes from a true firm structure versus being the Lone Ranger.
Single Shingle LawyerTime to find a partner!
Much like dating or finding the right home, this is a delicate dance that depends on a host of variables; we have had the pleasure and privilege of driving a number of these efforts. From how compensation will be structured, to buy-in from the new partner (or not!), to ensuring a chemistry fit, we have allowed the owner to focus on what they need to do (grow the firm and not get distracted) while we are driving the change behind the scenes. Socializing options anonymously with other peers in the marketplace also ensures that the best and freshest thinking that market intelligence can offer is being considered.
The next steps can be scary, but you don’t have to do it alone!