Question for any attorneys out there who started their own business:
Were there any advantages or disadvantages you experienced from being an attorney and starting your own business? Are there any pitfalls along the way that I should be conscious of?
For context, I am a young attorney interested in starting my own business (not a law firm) and eventually want to transition away from my law career. The skills I’ve picked up along the way have helped me greatly with the basics (entity choice, business formation, etc.). But I’m curious to see how I can leverage my experience or what precautions I should take as I take more meaningful steps. My business would be a products based business with online sales direct to consumers.
This question is directed at former/current attorneys but it’s also open ended, so any and all advice is welcome. Thanks everyone.
Founders who were/are lawyers
byu/FamiliarNobody7991 inEntrepreneur
Posted by FamiliarNobody7991
2 Comments
It’s been tremendously helpful. The benefit has been less about what I know and more about knowing what I don’t know (sort of like issue spotting in law school). I’m then able to use my legal network to source the info and/or know-how cost effectively.
I am an attorney who never practiced with a law firm and I’ve always been an entrepreneur and salesman. I think that your advantage comes from your brains and thinking ability and basic knowledge. But online sales requires other skills. Any type of sales process is different from thinking like a lawyer. I guess I’m being supportive but realistic.