Simply Focusing on Your Future May Equal Failure
So you want to hang your own shingle and put your name on the door. You have thought about the future and the mountain of money you will make. Have you stopped to consider how exactly, and I mean specifically, you will achieve your goals?
Although thinking about your law firm’s success is a good idea, simply stewing on that future success as opposed to planning for it is a terrible idea. Here’s the thing about making mountains of money, building a business, or generally finding success: no one has ever done it by simply thinking about the end result. Building a successful small law firm doesn’t happen by thinking about the money it happens by spending countless hours reading, planning and stressing about the details.
The focus for any small law firm or solo practitioner should be and should remain a question: how should I go about achieving my goals? Goals are easy and more importantly goals are cheap. If you want to understand the hyper inflated value of goals, simply visit any kindergarten graduation ceremony in America. You will hear the best plans and goals of every 5-year-old ranging from being the CEO of Microsoft to the next president of the United States. Ask yourself: what separates their plans or goals from yours? It’s a ridiculous question, I know! You have a post-graduate degree. You successfully completed the Bar exam. You have managed to juggle your life, marriage and law school. But seriously, answer the damn question…
Hopefully, your answer explains how you will achieve these goals. If you have solid short, medium and long-term visions for your practice, this question should provide a detailed explanation of the exact mechanism for your path to success.
As a small law firm or solo practitioner, your business and your success will live and die by the quality of your goals and plans. And if you jumped into your practice with both feet, your family and your finances will also live and die by the quality of your goals and plans.
When you decided to hang your own shingle, did you stop to think about why you were doing this? When last did you ask yourself why? Are you looking to fill a gap on your resumé while you look for a traditional job with a medium or large size law firm? How often do you ask yourself why you want to continue with your own practice?
Jared Pierce hung his own shingle right out of law school and has spent every minute since then discovering the joys and difficulties of chasing success. Anyone who has ever met Jared will tell you h