Starting your own professional practice can be exciting but it can also be quite challenging, especially for those who do so upon graduation.
Wise Law Blog has produced a most generous, mentor style account of the steps and considerations for Starting a Law Practice. As the title implies the article is written for lawyers, however, much of it is also applicable to professionals in general.
Interestingly, while Garry advocates only spending the cash you have he is pro-branding. He firmly believes it has significant impact on the first impression a firm will make and will garner credibility from the outset for a start-up practice. Here are a just a few excerpts from the lengthy piece that is definitely worth the read:
Business Planning – Choose Your Area(s) of Practice and Choose your ClientsDecide where you want to go, and then determine the road map for getting there. In other words, take the time to do the necessary business planning. But also be ready to adjust for the type of client and issue that tends to walk in your door. That will play a big role in defining how your practice will evolve.InfrastructureWhat you will really need to start your office will be quite modest…MarketingBranding is one area where I recommend allocating a bit of budget…And whether that first impression comes from a logo on a brochure, business card, or letterhead received, it will be a big part of how you are sized up…Develop an internet presence… It is your online business card, and an absolute must…Use all Available ResourcesWhen challenges arise, ask your peers for their input…Go to Continuing Education programmes…And at the end of the day, get used to trusting in your own skill, judgment and instinct. It is what you are selling, and it is probably your key asset.
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