Starting Your Own Law Firm: Now is the Time
The deadly pandemic has wreaked havoc on families and industries across the globe. For lawyers, the contraction of the economy means that there are less employment opportunities for young lawyers and less clients for older lawyers.
For example if unemployment continues to rise, there will be less employment related claims, less worker’s compensation claims, less people buying cars, means less people driving which means less cars are sold and therefore less consumer protection claims- and less personal injury accidents and DUI’s.
If less people are making less money there are less people taking vacations, purchasing homes, selling homes and on and on. All of this will mean less need for lawyers to represent and defend individuals in every aspect of life- including, wills, trusts and estates- and less and less clients with the means to hire lawyers. Perhaps the only area of the law that has seen an uptick in business is bankruptcy and reorganization practices.
What You Should Do as a Law Student:
What does this mean for the law student- who is focused on graduation, passing the bar and the hope and expectation of employment? Be prepared to face a very bleak job market- and be prepared more than ever to start your own law firm and provide legal services at a reduced cost to the public who will not be able to afford to hire more experienced lawyers and traditional law firms.
Today’s law schools are preparing their students to graduate and take and pass the Bar. But little time or fucus is spent in preparing students to start their own practices.
I have been a personal injury attorney in Miami and owned my own law firm which I started the day I was admitted to practice-for nearly 30 years.
Please join me for my Zoom presentation “5 Things Every Law Student Should Do During The Pandemic To Prepare To Start Their Own Law Firm Upon Graduation.” Zoom link provided closer to the event.