April 25, 2024

You’re the Boss Blog: Can Lawyers Be Entrepreneurial?

Today’s Question

What small-business owners think.

To some, the phrase entrepreneurial lawyer may sound like an oxymoron, but we’ve just published an article by Eileen Zimmerman, reporting that more and more lawyers are choosing entrepreneurship over the partner track.

Margie R. Grossberg, a partner at the legal recruiting firm Major, Lindsey Africa, said she saw an increasing number of associates choosing to start their own firms. “In the past, associates found if they worked really hard and did the right things, they made partner,” she said. “That’s not necessarily the case anymore — the odds are a lot slimmer and it’s also not as coveted as it once was.” These lawyers want more control over their futures, Ms. Grossberg said, and do not want to wait until they become partner to have meaningful relationships with clients.

The economy is another factor. “There have been thousands of associates laid off because of the recession,” said Eric A. Seeger, a principal at Altman Weil, a legal consultant. “We’re seeing more lawyers out there now taking risks, and that includes going out on their own.”

What advice would you give a lawyer starting a new firm?

Article source: http://feeds.nytimes.com/click.phdo?i=44ef86546e0f6ac40164008930a4d049