Have you just graduated from college with a law degree? If so, you are most likely contemplating joining an established firm. The reason most college graduates do not consider starting their own firm after law school is lack of funding. While this is a major hurdle to jump, it is still possible to successfully start your own law firm immediately out of school. Below, you will discover a list of tips to help you do just that.

Do Not Listen To Naysayers

When it comes to starting a business, regardless of your situation or age, some people will discourage you from doing so. Of course, starting a law firm is not the easiest thing to do, but it sure beats working for someone else. When you first discuss your ideas with others, such as your classmates and professors, you will encounter a few naysayers. If you listen to what these people have to say, you will always work for an established law firm and never own a law firm.

Planning Is Key To Success

Starting a law firm or any other type of business requires dedication, money and a lot of planning. While some law students will immediately start thinking about getting a job with a big law firm, others set their sights a little higher. As far as the planning goes, you need to start creating a marketing and business plan. And, remember it is never too early to start approaching these tasks. If you are going to be a sex crimes attorney or specialize in probate law, your firm idea will not get off the ground without a lot of planning.

Saving Money In College

As mentioned above, starting a law firm requires a lot of money, which means you will need to start saving early on. Of course, your money will be tight when you are in college, but it still may be possible to save a small nest egg. If you can fit in a part-time job, you will be able to save even more money. You may find it difficult to scale back on your spending in college, because many of your classmates will be spending money left and right on entertainment.

Choosing An Area Of Law

It is crucial to choose only one area of law for your practice. Choosing more than one or two areas of law will only throw you off track. In fact, if you focus on more than two areas of law, chances are you will never become an expert at anything. Once you choose an area of law, you will need to gain some experience in that particular area. I good way to do this is a clerk in at several law firms that specialize in that area of law, while you are still in college. The more exposure you can get, the more prepared you will be to start your own law firm.

While it is okay to set your sights high, your goals need to be realistic. You should never expect to open your own law firm and instantly get a high-profile client.

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