Traditional or Home Office - The Great Debate

One of the first things solo lawyers debate is where to practice. This isn't particularly a practice "specialty" debate, as much as a general debate regarding locating your practice.

 

There are two general "schools" of thought regarding locating your practice. The first is the home office school, while the other is the traditional method.

Home office lawyers champion the idea that because of technology, the location of your practice is not important. With WiFi almost as common as the cell phone, your office can be anywhere you want.

 

The traditional school believes that your office is what distinguishes you from the "schmuck" attorney, and that having a physical location lends credibility to your solo practice.

 

My thoughts have always centered around those of the traditional school, but there's viability to the home office crowd.

When I began my practice, there really was no home office option. I have 3 small children, and therefore, practicing out of my home would have been a disaster. I realized early in law school that if I wanted to accomplish any work, I had to leave the home. Many other attorneys find the same thing.

There are some particular pros and cons to each, and here they are:

Traditional: Pros

1. "Secure" space to meet with clients and discuss important issues;
2. Ability to network with other businesses, attorneys, or professionals sharing office space or in the building;
3. "Legitimacy" to the solo practice;
4. Focus for unfocused home office people
   

Traditional: Cons

1. Costs for renting/outfitting office space
2. Distractions from others
3. Takes time to get going
   

Home Office: Pros

1. Little to no overhead
2. Use cellphone/home internet/technology to manage office
3. Meet clients where and when you want
4. Easy work/life balance
5. Easy to get going
   

Home Office: Cons

1. Distractions at home (dishes, kids, TV, etc.)
2. Perceived "illegitimacy"
3. Meet clients at home or travel elsewhere - consumes extra, valuable time or raises security concerns

I think most new attorneys will opt for the traditional method of practicing. I think, like me, you learned early in your academic career that you're less productive if you're sitting at home.

I believe if you leverage technology, you can establish a high-quality work/life balance working away from home.

Startup Predictor

The website, YouNoodle has created a pretty cool predictor to estimate the value of your startup. The cool thing about this is that you can get the prediction for your startup's value in 3 years. Although the test is geared toward traditional startup ventures (ie: those types of businesses that can take/split profits with non-lawyers), the predictor gives a nice glimpse into your firm's success.

I took the test for my firm's site, and failed miserably (although it values my firm at $141,000 after 3 years, so I don't think that's too bad), as far as my potential for the million dollar firm.

Your Alma Mater

Not feeling like you got the best education during law school? Check out this post by Scott Moss, which ranks the top 10 law schools. The catch, Scott uses crimes and punishments to create the list. The spoiler, Harvard (said with sarcastic arogance) ranks numero uno.

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