Are you wondering how to start a law firm? Doing so is one of the best ways to make a comfortable living, while at the same time providing tremendous value to people.
While there are many different types of law that you can practice, the median lawyer salary in the US is over $120,000. And you can expect even more if you own and manage your own firm.
But if you plan on starting a law firm of your own, it’s going to take a lot of work. There are a lot of moving pieces, whether you plan to become a solo practitioner or have a full time working for your law firm.
Wondering how to get started on your dream of owning your own legal business? Keep reading for a roadmap on opening up your own law firm in the future.
Education and Certification
First and foremost, you need the proper education in order to practice law. Your first step is getting a bachelor’s degree. This can be in any field of study that interests you. Or it can be an area of study that relates to the area of law you plan to focus on.
One of the best ways to start a law firm is by offering services such as legal plans, business contracts, and other more simple services in the beginning. Therefore, a business and economics degree works well.
Then, you need to apply and get accepted into law school, graduate with a Juris Doctor degree, and finally pass the bar exam.
How to Start a Law Firm; Choose an Area of Focus
You’ll also want to choose an area of focus. You won’t be able to offer everything, to any type of client. Choosing corporate law allows you to work with businesses and aspiring businesses while specializing in family law is rewarding as you get to serve families.
You can also choose if you’d like to become a virtual lawyer, or if you’d prefer to have an office building of your own. Becoming a virtual lawyer offers much lower startup costs, so you can get to work servicing clients right away.
But to truly grow and run a great business, opening up an office for your firm is a great idea.
Advertising and Marketing
Once you have an office building and a team in place, you need to focus all of your energy on getting new clients. After you’ve been in business for a while, this process will get much easier.
But in the beginning, when you are starting from scratch, legal marketing will require a good amount of effort. Your goal is to attract qualified leads on a regular basis. Then, you need to have a system for converting those leads into paying clients.
One way you can do this is with legalshield leads, where others can connect you with qualified leads. You should also build relationships with other businesses that are non-competitors. This could be accountants, lenders that focus on business loans, and so forth.
Sending each other qualified leads is mutually beneficial, plus it helps the customer, too.
Taking the Next Step
Now that you have an idea of how to start a law firm, it’s up to you to take the next step. If you are still young and in school, you can save lots of time by pursuing your law degree.
If you have already graduated school and are considering law school, you may find programs that allow you to take courses at night, after working your day job.
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