Practice Management

Well, maybe not the same road to political enlightenment, but the one of lessons learned in the private practice of law.

We practice.  We learn.  We try to express ourselves to others so that they might find the trip a little easier than we did.

Peter Olson of Solo In Chicago posted about the two things he wish he knew or understood when he started his practice.  The first, is that you need to control your expenses.  Money not spent is almost as important as money earned, only most people discus the latter and not the former.  As he stated, "I still kick myself about throwing away money in the early start-up years. For me it was overspending on office space and commercial lawyer referral programs. A law firm can potentially earn you a nice living, but it's different than a non-legal start-up business where oftentimes you can really grow a business for 3-5 years and then sell it or go public".

The second gift of knowledge is that in network marketing you need to get in front of people who can refer you clients, but just as important (and what people do not tell you) is you need to have your elevator speech down.  How is it that you explain what you do to people.  As he stated, telling people something like "I'm a family law and real estate attorney" is not good.