As we marked the two-year anniversary of our fledgling two-attorney law firm May 15, we thought it would be helpful to reflect and share our gleanings on the key components for launching and sustaining a law firm, based on our experience to date:
• Be ready for the move. We started our firm at a time when together we had nearly 30 years of collective experience as lawyers. We knew our trade and wanted to control the environment we worked in rather than having it foisted on us by others, without much of our input. Also, we recognized that ultimately to have satisfying and sustainable careers, we needed to build our own client base, and it was difficult to do that with the rate and billable hour pressure of larger firms. We also thought we could independently create the environment to provide the same quality of services to clients in our practice area without the resources of a larger law firm. We recognized that much of the law firm overhead to which our revenue streams were diverted in a larger firm did not inure to the benefit of our practices. We also had experience working closely together for five years, so, we knew that we had good chemistry as colleagues and co-workers. Last, and perhaps most importantly, we created a blueprint for our move after securing generously provided guidance from other lawyers who had left larger law firms to successfully launch and sustain their own practices.
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