📺 Event Replay- Working for Yourself: Legal Professionals Going Out on Their Own
The last 18 months have changed the way that we do business, and more people are appreciating the value of remote working. We've seen an exodus of talent leave their fixed positions and go out on their own. Whether you are a legal professional wanting to go out on your own, Or you want to scale your already existing business, we’ve got you!
We were lucky enough to have one of the biggest game-changers in the freelance legal industry, alongside our very own talent experts on our panel! They discussed how to build your legal brand and pave your way to success as a freelance legal professional.
Meet the Presenters:
Operate like an in-house counsel
Open yourself up to different types of roles
Decide the bandwidth you want to commit to
Set a consistent track record with the client
Establish boundaries early on
Be nimble and ready to adapt to changing expectations
Why go out on your own?
Jordan: “It allows you to practice in a lot of areas and take advantage of all your talents”
Experience with in-house counsel allows you to see the issues that small companies go through, and how hard it can be to find the right outside counsel
Position yourself like an advanced counsel, operating at the external level provides a lot of cost-savings for the company
How do you set goals?
Jordan: “It was an opportunity to broaden the base of products I was working with”
Compensation is a major reason people are hesitant
Decide what you need to make it a worthwhile endeavor
Focus on getting early engagements to build your profile out
What are the Obstacles?
Josh: “Figure out which roles you want to chase”
Compensation is a big question!
Lawtrades pricing is on avg. $120-180 per hour
How long will it take to find an engagement?
We’ve had talent sign contracts in less than 48 hours!
Decide and commit on the right time to leave your current opportunity
Jordan: “Be open minded and see how the work evolves”
Wasn’t the right time to jump right into a full time engagement
Enjoyed the flexibility and ability that Lawtrades offered
How do you manage your time?
Jordan: “Be cognizant about how much work you’re willing to put in”
Understand the turn around time you need to make deadlines
are you looking for work life balance, or…
are you looking to have as many engagements as possible
Understand the ebbs and flows of your client’s business, such as when work may pick up and when it will slow
How do you build out your profile?
Josh: “Describe what you’ve accomplished, and make it worthwhile for the client”
Highlight the diverse parts of your background
Keep it concise! Clients can only see the top third of your profile
Showcase any startup or small business related experience, technology assets, and highlight cool clients you have worked with
Jordan: “Keep it as pithy as possible”
Take the effort to flush out what your strengths are
Take on engagements that meet your current strengths, then you can pivot onto ones that broaden your experience
Build relationships with current engagements, be ready to broaden your scope as they may take you on for future engagements
How does the interview process work?
Jordan: “Make them comfortable with the remote-working relationship and being external”
It may be a little less cumbersome than going through the process at a full time company
Clients are generally looking to take someone on pretty quickly
Be confident, personable, and be ready to provide support
Be nimble and adaptable to the client’s system and processes
Josh: “Get to know the team upfront up”
Don’t be afraid to ask questions early on
Get comfortable with 100% remote work
Understand where and how communication will take place with the GC, and the rest of the legal team
How do you set boundaries?
Jordan: “Establish that track record and credibility with the client”
Be ready to provide estimates on time frames
Set expectations and form boundaries early on
Understand how much you need to be unavailable, and how flexible you can be during the day
Any tips on setting up a virtual practice?
Jordan: “Hire a good accountant”
Make sure to set up an accounting strategy- the taxing side can get tricky
Don’t be afraid to take a rate slightly lower to get yourself out there
As you build up a steady base of clients, you can adjust the hourly rate and scale upwards
At Lawtrades, we’re on your team to help things work.
If you want to find out more about Lawtrades, feel free to set up a call with our amazing team here.
Or, if you are ready to sign up & apply for engagements...you can join our amazing talent network here.