jessipatton

Common Ways to Finance a Law Practice

Asking for money for any reason is really hard for me, as it may be for you. I didn’t want to ask family or friends for a loan even though I had plenty of people I could approach. I didn’t want even to ask for a co-signer or a guarantor to help me get a loan. I wanted to stand on my own. And succeed or fail on my own.  Before you embark on this exciting journey,  it is important that you evaluate the financing options available to you. Before you liquidate any assets or borrow money, do your homework.…

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jessipatton

Small Firm Profile: Patton Law and Our Love of Startups

Over the past few months, I was floored by the amount of emails I received from Ms. JD readers asking why I decided to focus on serving the tech startup community.  Because of the overwhelming interest, I wanted to share my recent profile on Hypepotamus, the largest tech blog in the SE United States, that answers that specific question in more detail.  I am incredibly thrilled and humbled to share my personal experience and hope that it in some small way helps other attorneys navigate their own path of starting their own practice.   Over the next week, look out for another blog post on writing a…

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jessipatton

Do You Have What It Takes To Run Your Own Law Firm?

If you are working for another attorney or firm, there has probably been a time or two you have wondered if you have what it takes to start your own law practice or business.  According to Merriam-Webster, an entrepreneur is a person who "starts a business and is willing to risk loss in order to make money."  Not everyone is wired to be an entrepreneur, especially when it comes to taking risks to launch your own venture.  There are pros and cons to starting your own practice; some of the pros include: The freedom to be your own boss Job…

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jessipatton

Go Small or Go Home:  The Importance Of Niche Marketing

  Niche marketing is known by many titles: micro-marketing, industry marketing, and target-marketing to name a few.  No matter the nomenclature, it all comes down to the idea of becoming a big fish in a small pond.  Niche markets can be broad or narrow and are "created by identifying needs, wants, and requirements that are being addressed poorly or not at all by other firms, and developing and delivering goods or services to satisfy them."*  When I started my law practice, I wanted to help every business owner protect and grow their dream venture. I kept my marketing very general, not wanting to exclude a potential group or client.   I…

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jessipatton

Why You Should (Or Should Not) Start Your Own Law Practice

For my inaugural post, it seems fitting to begin with the most important question you should ask yourself before starting your own practice: “Why am I doing this?” Starting your own practice or firm has many advantages: independence, control over your focus, and flexibility to name a few.  It can also be one of the most rewarding experiences of your life but if you’re doing it for the wrong reasons, you will be miserable. This question will come up constantly —in your business plan, in conversations with potential clients, and with other attorneys.  It will also be the deciding factor…

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