Archive for the ‘Starting a New Practice’ Category
How Good Lawyers Survive
One of my favorite funny movie lines of all time comes from 1956’s “Invasion of the Body Snatchers“. Our hero is running for his life. His voice-over narration is (deadpan): “I had known fear before, but never fear like that.” The understatement cracks me up every time.
I was somehow reminded of this line when reading the introduction of a new book dealing with bad times in law practices. Lawyers have seen tough times before, but never quite this tough. How Good Lawyers Survive Bad Times by Sharon Nelson, Jim Calloway and Ross Kodner has just been released by ABA books. Need a pep talk with a heaping helping of practical advice? This book is a 212-page cookbook for making lemonade out of lemons, figuratively speaking. As anyone who has seen these well-known authors and speakers would expect, the advice is delivered with compassion, common sense and a dose of humor. Most of the advice is geared to those in small firms, those recently laid off, and those struggling to find jobs. There are tips on getting clients to pay, finding a new job on the Internet, alternative billing , and resume writing. The last section of the book is devoted solely to using technology to practice better, cheaper and faster than before. For lawyers experiencing the worst of what the economy has dealt, this book is a lifeline. Purchase your own copy, or check it out from the Bar lending library. 
Suddenly Solo
The theme of the July issue of the ABA LPM’s Webzine, Law Practice Today, is “Suddenly Solo.” If you are a solo or are about to become one, be sure to read this issue. You’ll find a list of 50 resources and links that solos can use to help get their bearings; marketing advice such as Fast Tips for Marketing When Suddenly Solo by Mark Robertson; branding and making a name for yourself and your firm by Jared Correia; Grant Griffiths’ advice on blogging is a solid marketing choice for new solos; and management articles for coping with the economy, such as Twenty Strategies for an Economic Slowdown by Michael J. Anderson. There are also great articles on finance and technology.
How much is enough?
When it comes to starting your own firm, how much money do you need? While I don’t think there’s a magic number, or even a magic “rule of thumb,” Erik Mazzone’s feature in Law Practice Today has some practical advice and tips for capitalizing a new practice.