How To Go Solo In A Big Firm

Here's another perfectly valid and good reason for lawyers toconsider going to work for a big law firm. . . they're a GREAT place tohang out your own shingle. No, I'm not crazy. You read that right, biglaw firms are great places to hang out your own shingle. It's all amatter of perception. Let me explain. . .

Let's say you're just getting out of law school, or maybe you'vebeen out for awhile but your solo law firm hasn't been performing foryou as well as you might have hoped. Do you struggle out there on yourown, ordering your own office supplies, managing your own IT,negotiating with your own landlord and managing your staff all byyourself, all the while trying to find time to practice law and have alife?

Well, if that's you then having a life is probably the first thingthat got sacrificed a long time ago. So let's take that out of theequation when comparing big vs. solo practice for our hypotheticallawyer who isn't able to make enough rain to keep him/herselfcomfortably appointed.

Now we need to touch upon an important subject which is oftenmisunderstood by lawyers. Unfortunately, it's a subject for which wedon't have enough space to give justice, here in a short blog posting.And that's the subject of what it REALLY means to "own" or be a"partner" in a law firm? In reality, the only thing the Owner(s) orPartners of a big law firm actually "own" that is of any value, is theignorance of their associates who never learned how to make it rainenough to be in a position to demand a piece of the pie for themselves.Oh yeah, and a collection of used furniture, old computer equipment, alease obligation for the space, and a collection of accountsreceivables. And what do you suppose each Partners' slice of all thatis really worth on the open market?

Now once you recognize that the only thing that REALLY separates thePartners of big law firms from their Associates, is the ability togenerate enough business to cover their own overhead and make a profitfor the firm, it becomes clear that it's perfectly possible to hang outyour own shingle in a big law firm.

Do you have to sacrifice some of the freedoms of being completelyout on your own? Sure you do. But the trade-offs can be well worth itif you manage the relationship well and go into it with your eyes open.And keep in mind that just because you're bound by someone else's rulestoday, doesn't mean you will have to still be bound by those rulestomorrow. If you learn how to generate enough business to have a say inthe matter, that is.

So how does one go about hanging out his/her own shingle in a biglaw firm? The Answer: Become a Rainmaker. Were you hoping for a morecomplicated answer? Sorry to disappoint you, but that's it. . . Justbring in roughly double what you take out of the firm and for allpractical purposes, you've achieved "solo" status. That is to say, youcan begin to have a say on the rules of the firm which affect you,because at that point, the firm needs you as much as you need them.

When you bring in three times what you take out, you can have a sayon the rules of the firm that govern the lawyers who your work iskeeping busy. Because at that point, those lawyers need you more thanyou need them. And when you tip the scales and are able to bring inmore than three times what you take out of the firm, that's when youmake the transition and either become a "Partner" in a big law firm, orgo out on your own and open your own shop because you want to have asay in the rules of all the lawyers in a law firm, except of course forthe ones who bring in twice what they're taking out of the place.

So there you have it. Think of working for a big firm as owning yourown shop in a mall. The mall takes care of security, HVAC, basicinsurance, and maintenance of the roof over your head. And in exchangeyou agree to run your shop in accordance with mall rules. But insideyour own four walls YOU still get to make all the important rules aboutstrategy and how you prioritize your finite resources of time, energyand enthusiasm.

So to any lawyers reading this or any of the other many great blogsfor solos, if you're ever tempted to feel like bashing (or beingjealous of) lawyers in big law firms, remember that we're ALL bound bythe same Golden Rule Of Law Firm Management: Whoever Controls TheGolden Clients Rules The Law Firm.