Just as in my firm, many solo and small firm attorneys are blazing their own path; trying to find their way to building a profitable business. However, most of us, never went to business school. So, we are just finding our way in the dark.
We have a lot of advantages: we are small, lean, and can turn on a dime. This gives us agility.
- We can drop things that are not working.
- We can quickly respond to changes.
- We to make continuous improvements without the approval of a board of directors.
However, it still helps to have a model in place. Personally, I think a great place to look is tech industry startups. They are also not shackled with low barriers to entry and low costs. I also think their notions of rapid iterations apply in a law firm setting.
Here is a great discussion on the TWiT network with Eric Ries, author of the Lean Startup, discussing what works for startups. Give it a watch.
You can also download a podcast version here.
What do you think? What’s the best startup advice you have to lawyers going out on their own?