The term entrepreneurial lawyer has gained momentum in the last several years, but what does it mean?
In its simplest form, the definition of an entrepreneurial lawyer is one that both loves being a lawyer and also loves the challenge of building their own practice on their own terms. If you attended law school and have practiced law, you already know what traits it takes to be a lawyer. But what traits are needed to be a successful entrepreneur?
The Top 15 Traits of Successful Entrepreneurs
- Strong Work Ethic – Disciplined
- Determination – Tenacity
- Self Starter
- Loves to Learn
- Knows How to Network – Strong People Skills
- Flexibility – Highly Adaptable
- Basic Money Management Skills and Knowledge
- Takes Calculated Risks
- Ability to Sell and Promote
- Willing to Ask for and Accept Help
How do you stack up?
Perhaps you identify with many of the qualities on this list but still wonder if you could really be an entrepreneurial lawyer with your own law practice. Or perhaps you identify with several of these traits but are hesitant because some of these traits seem out of reach. Good news—you are not alone. We’ve worked with over 2,600 lawyers over the past twelve years and we’ve seen it all. We’ve designed the systems and tools that help lawyers fill in the gaps on what it takes to be successful business owners and estate planning lawyers.
Believe it or not, many of our New Law Business Model lawyers did not start out self-identifying with this list fully either. In fact, some of our most successful lawyers had a lot of questions about how to run their law practice like a business. But once they started working with New Law Business Model it completely transformed the way they practice law and has allowed them to build businesses and lives they love.
Becoming an Entrepreneurial Lawyer–is it Right for you?
If you’re curious about whether building your own law practice is the right move for you, start by asking yourself these basic questions:
- Do you want to put your law degree to use in a way that you feel good about?
- Do you want to control your earning potential – the ability to dial up or down your income to suit your lifestyle?
- Do you want to control when and where you work?
- Do you want to be a business owner?
- Does helping families from a place of genuine care interest you?
- Are you willing to face your fears and assumptions that are holding you back and work through them with coaching?
Get Into Action
Step 1: Learn About Our Programs
If you found yourself nodding your head yes to most of these questions we invite you to learn more about our two core programs here:
- The Life & Legacy Planning Program
- Life & Legacy Planning Program with Strategic Business Advisor Upgrade
The New Law Business Model programs are designed to address the unique challenges lawyers face when building an entrepreneurial law practice and a life they love.
Step 2: Read Success Stories
Take a few minutes to read through a few New Law Business Model success stories. We think you’ll identify with many of the stories our lawyers share.
Read about New Law Business Model lawyers who:
- Hit the $1M Mark
- Started a New Estate Planning Law Practice
- Enjoy a Flexible Schedule
- Transitioned to Part-Time
- Built a Home Office
- Love Their Practice Again
Step 3: Schedule a Call
At this point, you likely have some questions. That’s where our team of trained Law Business Advisors comes in. They can answer any questions you have about our programs, provide resources to support your decision-making process, and help you get clear on the exact steps that you can take to create a thriving estate planning practice. You can schedule a call with one here.
A Parting Word
“There are only two rules for being successful. One, figure out exactly what you want to do, and two, do it.” – Mario Cuomo
Being an entrepreneurial lawyer, you’ll be in business for yourself, but this doesn’t mean you have to do it all by yourself! If you know what you want to do, it is okay if you don’t quite know how to do it yet! If you’re committed to your goals and ready to get into action, it is absolutely possible to build a lucrative and fulfilling solo practice, and we’re here to support you every step of the way.