Helping New Law Firms

legal books and gavel

We help new law firms face the many challenges of starting up a firm. There are so many things you will have to do differently if you open up your own law firm. Working at a startup firm, as compared to working at an established firm, is a huge difference. Not only are the number of clients who request your services much lower, but the day-to-day running of the firm is so different from what you may have experienced in the past. Now we can take a look at some of the biggest challenges facing attorneys who set up their own law firm:

Administrative Duties

It may sound surprising, but the very act of hiring staff members and secretaries, finding an appropriate office and ensuring you have the necessary supplies and equipment to do your job is a challenge. Hiring people is never easy because you will not be able to pay them the salaries they would get at a larger firm. And as you have a smaller firm, the job security is never as good as it is in the majors. In addition, you will have to pay money for office space, supplies, computers and other equipment. Your staff members can handle some of these things, but you will have to sign off on everything.

Niche law firms

Another problem with starting up your law firm lies in how niche it is.   You may offer services that many attorney and lawyers do not, and the more specific this is, the more difficult it can be.  The upside to this is that these practices can be more profitable, depending on the industry they are offering legal services for.  Law firms like Hinman and Carmichael offer services for the alcohol beverage community, while attorneys like Bilecki and Timon help military service members who are accused of crimes like sexual assault, while also helping civilians in military court.  The problem with starting up law firms like this is that you have to grasp the law well in specific areas, unlike a lawyer who just generally practices law.

Getting New Clients

The biggest challenge for any firm is to get enough clients to keep themselves afloat. But when you are a startup, the challenge is even greater, because each new client means a lifeline for your business. At the end of the day, you cannot stay open if you have no clients because there is no money coming in to pay the bills. Sure, you can take some daily work at the local courts to add some extra money to your coffers, but you will need at least two or three continuously paying clients during the first few months unless you want to make a loss at the end of each work week.law libraryManaging Your Time

Managing time is always a challenge for attorneys, even when you have the power of a huge staff at your side at a bigger firm. But when you are on your own, and you have to do so much of the work yourself, it can be hard to figure out where to put all your resources first. Should you focus on getting new clients? Or do you need to spend all your time on the people who are already your clients? How much time can you spend on hiring staff and building up your firm? These are good questions, and the answers are never simple. If you want to start your own firm, you must have wonderful time management skills, or you are going to struggle with the workload on a daily basis.

Assessing Costs

This point ties into the first challenge, but it is slightly different. Administrative duties are important, but the assessing of costs and financial growth is equally important. It will be up to you to figure out whether your firm is making enough money to stay afloat, and where you may be spending a bit too much money. Big firms are able to throw away tons of money because they make so much, but every dollar counts when you have a startup law firm, and you will have to manage your resources so carefully if you want to find success.

Why ELMNT Design?

We have helped several startup companies through the years and we love the challenge of building up new law firms that will give justice to citizens.  The point of the law is to protect citizens from danger, and that’s why it’s our passion.  Contact us today for more information on how we can help you achieve success as a start-up.