Why Aren’t Solo Attorneys Running Like A Big Law Firm? So many times I confer with solo attorneys and some have a preconceived notion that “no one else can handle this work” or “I don’t want to grow.” Forget about growing, why not make money without doing all the labor like other business do and specifically partners in law firms do?!
Partners build business relationships and generate work. They feed Associates the work. The Associate does the work and then the work is reviewed by the Partner. The work performed by the Associates is usually billed at a higher rate than what the Associates makes per hour as permitted by the applicable Bar Rules. This is how Big Law Firms generate income.
Solo Practitioners instead try to do it all: build and nurture the business relationship, generate work, do the work, review the work, collect for the work performed and more. What’s missing. . . delegation to other legal team members that you can pay to perform the work for less and charge per your Bar Rules. Why aren’t you running your practice like this?
If you are interested in learning more, I plan to run a series of how you can run your business from the start like a Big Law Firm. Please subscribe by posting below that you are interested in following the series.