I’m pleased to announce that Michael Rappaport of M.R. Legal Communications is writing an article on “hanging out your shingles after articling” for The Lawyers Weekly. This article will feature PSWLaw as one of the sole practitioners.

During the interview, I shared my experiences of opening the firm. We dedicated no less than one-third of the interview to business operations: marketing, advertising, what has worked, and what hasn’t. (You’ll have to read the article to find out the answer!)

We then moved on to the pros and cons of being a sole practitioner:

Pros:

• flexible hours
• ability to decide what kinds of cases to accept
• better margin
• less peer pressure
• no need to please superiors
• ability to offer pliant payment schedules to clients
• being your own boss!

Cons:

• uneven cash flow compared with salaried positions
• lack of collegial support on difficult legal questions
• constant overwork
• burden of administrative duties and statutory compliance
• difficulty in finding replacement in emergencies
• little or no economy of scale
• dilemmas of work/life balance

At the conclusion of the interview, Rappaport asked me the inevitable question: “What would you tell someone who’s thinking about opening up their own firm after articling?”

“Know the challenges ahead and keep your spirit up. You’ll be fine,” I said.

Stay tuned!