2016 P&L - Made 783K solo last year (Calishitlawguru returns)
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Poast new message in this thread
Date: January 15th, 2017 11:16 AM Author: frum useless brakes
http://imgur.com/a/9q6Wj
Wife made about 125k in 2016 (she is corporate counsel for a company close to our house). This puts us at slightly over 900k for the year.
I'm thinking about writing a book and giving seminars on solo practice and marketing. Willing to take some questions today though as well.
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32377805) |
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Date: January 15th, 2017 2:34 PM Author: frum useless brakes
My marketing strategy is: talk to a lot of people. It's as simple as that. I don't really do much actual marketing. I pretty much "network" all day long 24/7. If I am at a friends house and he has friends there I don't know. They won't leave without having my business card and without knowing what I do.
If you've ever seen One Punch Man, it's sort of like that. He says you can be the strongest fighter in the world if you just do 100 push ups, sit ups, and run 5k a day. And it sounds like bullshit. But in the show he is the strongest fighter in the world. My advise is super simple, but it is effective and works.
At this point though, my firm just generates leads without any additional effort. I've had so many former clients that I just get calls from their referrals throughout the month.
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32378803) |
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Date: January 15th, 2017 2:45 PM Author: frum useless brakes
Sure, e-mail me.
calishitlawguru@gmail.com
What state are you in?
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32378843) |
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Date: January 15th, 2017 1:21 PM Author: frum useless brakes
It's always worth it. Just make sure you have enough to keep your family afloat. I would say expect zero income for at least 6 months. Especially if you do contingency work. So if I were you I wouldn't leave without having 25-30k that you can burn over 6 months. If you can do a side practice that is upfront cash (like criminal or immigration) that is good to supplement you while you build up your contingency pipeline.
In the meantime, start going to lunch with solos in your area who do what you want to do. Learn that shit inside and out, set up a website, make business cards, start telling your friends/family you are going to be leaving soon, and once you can quit all you have to do is start taking on cases.
I had everything set up and ready to go the day I quit my job.
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32378467) |
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Date: January 15th, 2017 4:16 PM Author: Diverse Disturbing Chapel Quadroon
how in the fuck does this advice apply to your law practice
gee, you broke your leg in a car accident when the other guy ran the stoplight
alright everyone, let's spot this guy's needs. now, after you've identified his needs, how are you going to show him that you can address these needs?
oh, by the way, tell me more about the pain in your leg and everything that you've suffered through because of it.
you don't need to read any fucking books about selling to do pi law.
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32379217) |
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Date: January 15th, 2017 2:38 PM Author: frum useless brakes
Yes. Or just learn yourself. The work isn't hard.
Even if you can't handle it, there are other options. For example, if you gave me 100 divorce cases today (or any type of case for that matter) today, I'd figure out how to get them done. I don't know the first thing about family law. If that means selling the leads or hiring someone to do it, that doesn't matter.
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32378816)
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Date: January 15th, 2017 4:43 PM Author: Boyish lay
am i supposed to know everything you've covered in every previous post?
good for you, but a lot of the bizarre numbers you throw out on here limits how useful any of this could be to other posters, if they don't undermine your no-flame credibility entirely.
just do all office space covered for $300/month!
just do ~$3,000 a year in total advertising/marketing but make sure to let people know you're a lawyer when you meet them at dinner parties!
just do $800,000 in legal fees handling car wreck contingency cases ... from the people you met at dinner parties!
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32379381) |
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Date: January 15th, 2017 5:05 PM Author: Boyish lay
yes it was a joke/exaggeration. i'm not saying you are flame because you're able to operate with low overhead. i'm just saying some of these things suggest your situation is a bit unique.
i'm in biglaw and not looking for tips to become a solo shitlaw king or anything.
i think you should advertise more. it's cool you're generating enough work to make that type of money largely on word-of-mouth, but then you'll have that either way. advertising if done right will definitely get you more cases that you wouldn't see just on networking, and like you said you can always just hire someone else to do the work if your volume grows that much. could also use it but only selectively add cases when your marketing brings in a whale case that will net you a huge fee. you can definitely afford to underwrite it as an experiment for a year, anyway.
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32379492) |
Date: January 15th, 2017 4:38 PM Author: Black Half-breed
a couple of things to point out:
1) calishitlaw is a natural extrovert and a friendly dude. some people have it, others don't. this is a skill that can be learned, but doesnt come naturally to most people. most people, for example, would not help out randos on xoxohth or even meet up with them irl. this goes to show how unusual his personality is.
2) calishitlaw is unusually rational and deliberate (these are qualities that can be very distinct from iq). for example, helping out random xoxo lawyermos isn't a purely altruistic act, because it creates goodwill at very little cost to himself and may in fact lead to a lot of benefit. if calishitlaw helps one lawyer become a successful solo and takes a cut of the business, it would be a pretty great pay off for him and the lawyer. most people would not think to network on a message bort, but he did.
in all, a good example of how to be successful in life.
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32379359)
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Date: January 15th, 2017 5:59 PM Author: Diverse Disturbing Chapel Quadroon
okay, this isn't legal advice
advertising rules are generally common sense and if you just do what everyone else is doing, you should be fine.
read through your state's ethical section and read the annotations. this literally won't take more than 15 minutes. there are probably annotations that tell you what you can't do based on people getting burned for it in the past.
in my state, you cross the line, you just get warned, and you back up. that's definitely not legal advice for your state.
shitlaw clients don't pay you if you give them a chance not to pay you. so, you get the money up front and do flat fees or you get money up front and bill hourly. if you deplete money up front and are owed more, you absolutely do not trust these clients to pay you in the future. they will not. you will ignore this advice and trust people. then you will be amazed at how worthless people can be. you will actually appreciate people who come through with their obligation to pay you. that's ridiculous, but that's how it works.
so, don't be a bitch. before you trust anyone, you withdraw.
ending the relationship? not legal advice. just end it. if you are dealing with someone who can afford to cause you problems, you probably aren't going to want to end it. otherwise, there are all kinds of buzz words and buzz phrases that you use to get out. breakdown of the lawyer-client relationship should get you out of almost all cases.
why isn't this taught in law school? because law school is greatly flawed.
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32379797) |
Date: January 15th, 2017 7:58 PM Author: bistre violent boistinker
was going to call flame but if this guy really did help out xoxo bros IRL, he deserves a cascade of 180s
take a 180 from me, friend
(http://www.autoadmit.com/thread.php?thread_id=3491997&forum_id=2#32380640) |
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