Just like goodbye doesn’t mean forever, solo practice doesn’t either – or at least, it shouldn’t. Some lawyers who start their own practices are committed to building and running a firm for the long haul. Others view solo practice not as a permanent end in itself, but as a transition – a way to ride out recessionary times after a lay-off, to develop a new practice area or establish a reputation in a niche market or get courtroom experience or re-entering the profession after time spent raising family.
In today’s times, careers, not just at law firms, but in all professions are fluid, no longer characterized by a rigid career ladder or up-or-out-partnership track. Today, lawyers practicing at firms and frustrated by lack of experience may decide to start their own practice, build up a skill set and return to another firm – as of counsel or partner years later. Look at the business models of most dotcoms or serial entrepreneurs – most want to bring a technology along to a point that they can sell it to another company. Could that model work for your practice?