Do I Regret Starting My Own Law Practice?
People often ask me if I regret going out on my own as a solicitor and setting up a law practice ?
The straight answer? No.
That said, it takes a certain entrepreneurial mindset - something most lawyers don’t naturally start with but can develop over time by working closely with their firms, clients, and by seeing the business world firsthand.
Why Lawyers Decide To Start Their Own Law Firm
Some lawyers have always dreamt of starting their own firm.
For most, though, the shift happens gradually, usually triggered by a strong motivating reason.
Common Reasons Lawyers Go Solo
Feeling stifled in your role and wanting autonomy
Overlooked for partnership opportunities
Financially undervalued despite the fees you generate
Struggling with an unsustainable work-life balance
At some point, the decision to go solo just becomes clear and non-negotiable.
There’s no real alternative.
How Long Does It Take To Set Up A Law Firm?
Setting up a law firm is not an overnight move.
The Preparation Timeline
In my view, it takes several months of preparation - putting structures in place, securing finance, ensuring regulatory compliance, and taking care of everything else that comes with starting and running a business.
The Rollercoaster Of Running A Solo Practice
Running a practice has been described to me as being on an endless rollercoaster - a balancing act where the highs and lows are dramatic and often unexpected.
A fair analogy, I’d say.
The Upside Of Going Solo
Financial reward
Flexibility
Autonomy
The Challenges Of Going Solo
Personal risk
Lifelong responsibility
Variable workflow and variable cashflow
What It Really Takes To Succeed
It requires, in my view:
the right mindset
a clear strategy
solid financial backing
expert guidance
determination and grit
But for me, it remains one of the best professional decisions of my life.
Thinking About Starting Your Own Firm?
Let’s talk about where you want to go next and how to get there.
Our especially written guide for intending solo lawyers When Is The Right Time To Go Out On Your Own? is out and will help you make that decision with a clear head and more confidence.
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Next Steps
If you’re serious about going solo and want experienced judgement on timing, risk, and sequencing, the appropriate next step is a private strategy session.
