Have you always dreamed of working for yourself, making your own business decisions, and setting your own hours?

Well, if you’re a lawyer, you can accomplish this by starting a law firm. You might not naturally connect “law firm” with adventure and dreams, but it really is a small business. It takes a lot of guts to get started on the journey, but you’ll be glad you did.

Like any other small business, law firms benefit from a healthy combination of strong community networks, business savvy, and a focus on personal well-being. We’ve put together a list of crucial tips for these early stages.

1. Protect Yourself From Burnout

Figuring out how to start a law firm is a big, hope-filled endeavor. Your energy and drive will sustain you through hurdles and uncertain times.

So try to protect that energy the best you can. You might be viewing this time as a period where you’ll have to give it your all and reap the benefits later, but make sure you don’t burn out in the process.

Give yourself time to think through all of your major decisions, and reach out to others for support when you need it.

2. Factor in Your Taxes

When you’re putting together the budget, calculate your taxes right alongside the expenses.

It might seem like you can figure out the taxes once you get the basics settled down, but you’ll be glad you did it early. When you’re looking around for office spaces to rent or buy, make sure you can afford the price on the papers along with the taxes.

3. Make a Website

Law firm marketing and branding might seem unnecessary, but you’d be surprised at how effective a website will be in getting your name out there.

If you don’t want to spend your energy working on a website, you could always hire a web designer to do it for you. Make sure to make that decision early on so you can set aside some money for that option.

And if you want to prepare for a move toward more reliance on technology, you can take a step further and figure out an IT system for your law firm. This can be a smart move as the world becomes more digital. Technology for lawyers is its own special field, and experts could help you reach the next level.

4. Don’t Let Others Discourage You

Reaching out to your friends and colleagues can be a great source of support while you’re planning your new law firm, but you should take their advice with a grain of salt.

This is especially true for people on the same level as you. This means your law school cohort or other lawyers with the same amount of experience you have. They might have great intentions, but make sure you don’t absorb their doubts.

There’s a reason you’re starting this process and not them. Sometimes you don’t know that something’s possible until you do it yourself.

5. Keep Your Business Finances Separate

At first, you might feel like your new law firm is your baby or an extension of yourself. Still, you should separate your personal finances from your business finances as soon as you can.

This means separate bank accounts, separate accounting, and separate lines of credit. You never know how any individual business will work out in uncertain markets, and your law firm might come upon hard times later on. If this does happen, you’ll want to make sure your personal finances are still okay.

6. Consider Malpractice Insurance

Even if you think a malpractice lawsuit wouldn’t happen to you (maybe only by you), malpractice insurance could be a good investment early on.

Take the time to consider this option during the budgeting process, and set aside money for the insurance before things really get rolling.

7. Starting a Law Firm Takes Time

Keep moving forward when you can, but be patient!

A large part of the success of a law firm is your recognition and reputation in the community. This means you have to build up trust over time. So take it slow, focus on winning cases, and don’t judge yourself too harshly until you’ve got more experience under your belt.

8. Find Your Niche

What kind of lawyer do you want to be known as? Choosing a practice area like divorce law, immigration law, or personal injury law can be a great way to carve out your local niche.

Focusing on a niche can give you some name recognition. Over time, you can become the go-to person for that particular practice area.

9. Build Soft Skills

Law school has likely taught you a thorough combination of soft and hard skills. When you’re trying to get your first clients at the law firm, your soft skills will go a long way.

Focus on being warm, friendly, and inviting. You might know you’re an excellent lawyer, but your potential clients don’t know that yet. The biggest thing to rely on at this point might be a welcoming demeanor.

Get Yourself Out There!

Once you’ve got your finances in place and found a niche you love, it’s time to get started on the journey of a lifetime. Starting a law firm means creating something that may stick around for generations to come. You might just look back on this time and be proud of how hard you worked to make this happen.

And for more key business advice, check out the other business articles on this site!