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Closing out books on first year of solo practice - lost two grand

almost to the penny. This doesn't count over $10,000 which I...
A Jurisprudence is Performed
  12/29/17
what did you pay yourself?
michael doodikoff
  12/29/17
$0, this is not some accounting scam whereby I make it look ...
A Jurisprudence is Performed
  12/29/17
1. what kind of practice areas do you do? 2. mostly cont...
michael doodikoff
  12/29/17
Employment contingency, mostly but not exclusively. I ended ...
A Jurisprudence is Performed
  12/29/17
number of files - about 30. But some of those are matters w...
A Jurisprudence is Performed
  12/29/17
explain how your marketing plan should have been
michael doodikoff
  12/29/17
just simple stuff, have the website already up, the blog art...
A Jurisprudence is Performed
  12/29/17
had lunch with a solo buddy last week. He gets majority of h...
michael doodikoff
  12/29/17
I do get some referrals, but this is another area where bein...
A Jurisprudence is Performed
  12/29/17
networking with other professionals who come into contact wi...
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
Bro if you get any PI referrals will you send them to us
chandler
  12/29/17
will you pay me a referral? do you handle workers comp claim...
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
Of course we will pay you a referral. I think we're undecid...
chandler
  12/29/17
i have very little exposure to PI or workers comp. a few a y...
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
One incredible PI case can make all of us millionaires.
chandler
  12/29/17
How did you get your cases?
chandler
  12/29/17
some online advertising, some referrals. Recently an older l...
A Jurisprudence is Performed
  12/29/17
i'd pay 2k to not have a boss
Maori woman performing defiant haka
  12/29/17
...
beckersted, abogado.
  12/29/17
What are your loss leaders? How to sharpen for the next yea...
...,,..,,.,
  12/29/17
...
beckersted, abogado.
  12/29/17
Yeah I was actually surprised when I ran the numbers, it fee...
A Jurisprudence is Performed
  12/29/17
Attaboy. Nice work. I know, the whole $300 per hour th...
...,,..,,.,
  12/29/17
terrified of state court, terrified of criminal law.
A Jurisprudence is Performed
  12/29/17
you can do it.
beckersted, abogado.
  12/29/17
DUIs are perfect guinea pigs for you, man.
...,,..,,.,
  12/29/17
State court should be your best friend as P's attorney. Gott...
bill laimbeer
  12/29/17
...
cannon
  12/29/17
Why would you be scared of state court?
chandler
  12/29/17
I have never practiced in my home state's court. I literally...
A Jurisprudence is Performed
  12/29/17
You'd be amazed at what they will let you get away with not ...
cannon
  12/29/17
do they have online filings system in your county? If so...
michael doodikoff
  12/29/17
state court is great man.
michael doodikoff
  12/29/17
I'm not even a lawyer and I know that these are two things y...
Wilbur Mercer, the supreme gentleman
  07/13/18
Startup loses money in first year, news at 11
jared kushner
  12/29/17
Yeah but not that much. Kind of wish I could afford such a...
...,,..,,.,
  12/29/17
My goal for this year was zero, so I'm not that far behind. ...
A Jurisprudence is Performed
  12/29/17
damn, I was starting to think from other poasters that every...
Judas Jones
  12/29/17
not flame watching TT make it was one reason I thought I cou...
A Jurisprudence is Performed
  12/29/17
he also practices in california
"'"'''''""'
  12/29/17
This has a lot to do with it. I changed from a defense couns...
A Jurisprudence is Performed
  12/29/17
What's the hype with PI law and Cali? Still don't get it
.,,.,.,.,,,,,.......,.,,
  12/30/17
...
.,,.,.,.,,,,,.......,.,,
  12/30/17
MODS!
.,.,,.;;...;;.;;;.;.;.....;.;;;;.....;
  12/30/17
Yeah, you don't. You especially don't if it is in any way c...
...,,..,,.,
  12/29/17
What is the size of your household?
Gregor
  12/29/17
2300 sq ft, give or take
A Jurisprudence is Performed
  12/29/17
Did you get any clients?
chandler
  12/29/17
"getting" clients is laughably easy in contingency...
A Jurisprudence is Performed
  12/29/17
Did you advertise? If Kenny and I bring in no income next y...
chandler
  12/29/17
so cal is a nice place to be homeless.
A Jurisprudence is Performed
  12/29/17
monthly overhead? fees earned? practice areas?
.,.,...,..,.:.,:,,:....,:::,..,:,.,.;..:.,:.::,,
  12/29/17
Monthly overhead, setting aside case expenses, is about $110...
A Jurisprudence is Performed
  12/29/17
you should be on cash accounting you lost $12,000, not $2,0...
sealclubber
  12/29/17
I'm just telling you what quickbooks tells me
A Jurisprudence is Performed
  12/29/17
Brother, let me know if I can help with general advice on ma...
Martin Prince
  12/29/17
thanks brother you can take it down. actually email bounc...
A Jurisprudence is Performed
  12/29/17
180
michael doodikoff
  12/29/17
180
Mario Lmao
  12/29/17
180
chandler
  12/29/17
Really 180 what xo is becoming
bird brain alimony explosion
  12/29/17
...
beckersted, abogado.
  12/29/17
...
Emory law
  12/29/17
...
poopy dick
  12/29/17
...
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
i lost a lot more than that my first year, and didn't pay my...
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
How did you survive in the meantime
chandler
  12/29/17
substantial savings and wife's income
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
also, my practice area has higher overhead than yours, so it...
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
Our expenses will be incredibly low. 100 for our virtual ...
chandler
  12/29/17
my overhead right now runs about $15K per month
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
Jesus Christ We should get lunch or a few beers sometime...
chandler
  12/29/17
that'd be cool, yeah. so are you actually doing it? going so...
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
Not solo. Starting a firm with Kenny and CSLG.
chandler
  12/29/17
just read one of the other threads. 180, that's awesome.
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
U can trust me too man. I'm a mod btw.
chandler
  12/29/17
GET. MONEY. BRO.
beckersted, abogado.
  12/29/17
Damn, that's higher than my overhead. What are you spending ...
calishitlawguru
  12/29/17
took profits from first bitcoin bubble
1920 North Side Mick Gangster
  12/29/17
If you're doing mostly contingency, that's not bad at all. I...
LathamTouchedMe
  12/29/17
I would love to have a few hourly cases just to pay for expe...
A Jurisprudence is Performed
  12/29/17
network with other lawyers. my area is similar - lots of emp...
.,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.
  12/29/17
I see. I have a friend who went solo. One of the things he d...
LathamTouchedMe
  12/29/17
that is fucking brilliant
A Jurisprudence is Performed
  12/29/17
He's smart and extremely ballsy. He went in to the interview...
LathamTouchedMe
  12/29/17
What did you do for health insurance?
President-Elect Donald J. Trump
  12/29/17
wife
A Jurisprudence is Performed
  12/29/17
I'll have to get my own health insurance fuck my ass
chandler
  12/29/17
As a former solo, I share your pain and wish you all the bes...
Tjhooker
  12/30/17
ty, what do you do now? I'm not in "pain" btw I co...
A Jurisprudence is Performed
  12/30/17
Updates?
;;;';';;';;;;;;''';';''';
  07/12/18
we gonna maek it. I'll check QB tomorrow but I'm guessing 40...
A Jurisprudence is Performed
  07/12/18
Nice man. Sorry if you posted already but what was your pre ...
;;;';';;';;;;;;''';';''';
  07/12/18
Yeah pretty standard.
A Jurisprudence is Performed
  07/12/18
180. what kind of cases do you do now
.,.,,.;;...;;.;;;.;.;.....;.;;;;.....;
  07/12/18
u are 100% gonna maek it. dassit. don't equivocate. say i...
beckersted.
  07/12/18
180
radio zozo
  07/12/18
Just checked - $45K YTD. I also have about $20-25K in fees f...
A Jurisprudence is Performed
  07/13/18
I live my life a quarter mile at a time.
honiara
  07/12/18
Nothing else matters: not the mortgage, not the store, not m...
honiara
  07/12/18
you should have tried it straight out of law school during t...
Boomer Life-Coach Telling You To Accept Diversity
  07/12/18


Poast new message in this thread



Reply Favorite

Date: December 29th, 2017 12:00 PM
Author: A Jurisprudence is Performed

almost to the penny. This doesn't count over $10,000 which I have in advanced client costs, which don't show on the books as "losses" because they're technically recoverable.

Taking q's.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034292)



Reply Favorite

Date: December 29th, 2017 12:01 PM
Author: michael doodikoff

what did you pay yourself?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034300)



Reply Favorite

Date: December 29th, 2017 12:04 PM
Author: A Jurisprudence is Performed

$0, this is not some accounting scam whereby I make it look like I lost money for tax purposes. I literally took in less money than I spent.

I should add that it's not really a full year, but pretty close.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034323)



Reply Favorite

Date: December 29th, 2017 12:09 PM
Author: michael doodikoff

1. what kind of practice areas do you do?

2. mostly contingency or hourly?

3. How many files did you take on this year?

4. Any lessons on this you care to tell us?



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034349)



Reply Favorite

Date: December 29th, 2017 12:13 PM
Author: A Jurisprudence is Performed

Employment contingency, mostly but not exclusively. I ended up making little on my few hourly cases because lazy opposing counsel didn't push their cases, meaning I couldn't bill anything.

Advice would be to prep more than I did. I didn't buy a computer, have a logo made, or order business cards, until *after* I had already given notice at my job. That was a big mistake - better to do all that while still on someone else's dime. I think I was also too cheap upfront. I should have had marketing ready to go full throttle on day one, and not sweat a couple hundred bucks here or there.

That being said, I psychologically needed some time off. So those incredibly quiet first couple of months were bad from a business perspective but probably necessary in a more personal sense.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034379)



Reply Favorite

Date: December 29th, 2017 12:16 PM
Author: A Jurisprudence is Performed

number of files - about 30. But some of those are matters with two hours in them, worth a couple hundred bucks; some are class actions. The number of files doesn't tell you much.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034426)



Reply Favorite

Date: December 29th, 2017 12:20 PM
Author: michael doodikoff

explain how your marketing plan should have been

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034453)



Reply Favorite

Date: December 29th, 2017 12:22 PM
Author: A Jurisprudence is Performed

just simple stuff, have the website already up, the blog articles written, business cards already printed. Nothing like radio ads or billboards.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034473)



Reply Favorite

Date: December 29th, 2017 12:26 PM
Author: michael doodikoff

had lunch with a solo buddy last week. He gets majority of his clients from his lawyer friends who don't handle his sort of law.

Have you been networking at lawyer events a lot?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034514)



Reply Favorite

Date: December 29th, 2017 12:28 PM
Author: A Jurisprudence is Performed

I do get some referrals, but this is another area where being in biglaw put me behind the 8 ball. I had a "national" practice not a local one.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034541)



Reply Favorite

Date: December 29th, 2017 12:35 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


networking with other professionals who come into contact with people who may be your clients is huge. at first, you will be the one sending them business, but it will come back. also, this is basic, but if you don't have any business to send at first, try to make strategic introductions between people who can benefit each other - they will remember you as the person who connected them, and it bolsters your reputation with both.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034584)



Reply Favorite

Date: December 29th, 2017 12:36 PM
Author: chandler (chandler)

Bro if you get any PI referrals will you send them to us

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034592)



Reply Favorite

Date: December 29th, 2017 12:38 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


will you pay me a referral? do you handle workers comp claims?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034602)



Reply Favorite

Date: December 29th, 2017 12:42 PM
Author: chandler (chandler)

Of course we will pay you a referral. I think we're undecided on workers compensation right now but having discussions about it. How many of those do you get?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034644)



Reply Favorite

Date: December 29th, 2017 12:45 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


i have very little exposure to PI or workers comp. a few a year maybe.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034659)



Reply Favorite

Date: December 29th, 2017 12:47 PM
Author: chandler (chandler)

One incredible PI case can make all of us millionaires.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034677)



Reply Favorite

Date: December 29th, 2017 12:20 PM
Author: chandler (chandler)

How did you get your cases?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034455)



Reply Favorite

Date: December 29th, 2017 1:15 PM
Author: A Jurisprudence is Performed

some online advertising, some referrals. Recently an older lawyer who practices in a related area has started sending me lots of cases to go 50-50 on.

you should be extremely grateful for the CSLG pipeline. Makes your life 10x easier

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034913)



Reply Favorite

Date: December 29th, 2017 12:06 PM
Author: Maori woman performing defiant haka

i'd pay 2k to not have a boss

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034331)



Reply Favorite

Date: December 29th, 2017 12:28 PM
Author: beckersted, abogado.



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034535)



Reply Favorite

Date: December 29th, 2017 12:06 PM
Author: ...,,..,,.,

What are your loss leaders? How to sharpen for the next year? BTW, I think that's a pretty good outcome for the first year solo.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034336)



Reply Favorite

Date: December 29th, 2017 12:07 PM
Author: beckersted, abogado.



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034337)



Reply Favorite

Date: December 29th, 2017 12:10 PM
Author: A Jurisprudence is Performed

Yeah I was actually surprised when I ran the numbers, it feels worse than that. I think I was overconfident going in about how easy it would be to make money; biglaw warps your mind into thinking "of course people will line up to pay $300 an hour for my services, that's a stone cold bargain!"

I didn't do any loss leaders, in retrospect I wish I had dabbled in consumer bankruptcy. One or two cases a month would've been nice, especially in the first couple of months.



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034351)



Reply Favorite

Date: December 29th, 2017 12:11 PM
Author: ...,,..,,.,

Attaboy. Nice work.

I know, the whole $300 per hour thing only works when its OPM.

Do a couple DUIs to ramp things up a bit. There are standard ways to treat them--it's routine as all fuck.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034367)



Reply Favorite

Date: December 29th, 2017 12:14 PM
Author: A Jurisprudence is Performed

terrified of state court, terrified of criminal law.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034389)



Reply Favorite

Date: December 29th, 2017 12:14 PM
Author: beckersted, abogado.

you can do it.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034401)



Reply Favorite

Date: December 29th, 2017 12:16 PM
Author: ...,,..,,.,

DUIs are perfect guinea pigs for you, man.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034417)



Reply Favorite

Date: December 29th, 2017 12:17 PM
Author: bill laimbeer (old John L.)

State court should be your best friend as P's attorney. Gotta get over that.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034433)



Reply Favorite

Date: December 29th, 2017 12:23 PM
Author: cannon



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034487)



Reply Favorite

Date: December 29th, 2017 12:19 PM
Author: chandler (chandler)

Why would you be scared of state court?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034439)



Reply Favorite

Date: December 29th, 2017 12:21 PM
Author: A Jurisprudence is Performed

I have never practiced in my home state's court. I literally don't know how it works and I'm embarrassed to ask. There is some degree of foolish pride.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034466)



Reply Favorite

Date: December 29th, 2017 12:24 PM
Author: cannon

You'd be amazed at what they will let you get away with not knowing

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034488)



Reply Favorite

Date: December 29th, 2017 12:30 PM
Author: michael doodikoff

do they have online filings system in your county?

If so, look up some case filings from prominent attorneys in your practice area. Pull up their pleadings, MSJs, orders, etc, should give you a good idea of what they do. Most of them won't be that different from the federal stuff, honestly. Hell, go sit in court on motion days and just observe.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034560)



Reply Favorite

Date: December 29th, 2017 12:21 PM
Author: michael doodikoff

state court is great man.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034463)



Reply Favorite

Date: July 13th, 2018 12:04 AM
Author: Wilbur Mercer, the supreme gentleman (Short Pride World Wide)

I'm not even a lawyer and I know that these are two things you should NOT be nervous about

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416761)



Reply Favorite

Date: December 29th, 2017 12:13 PM
Author: jared kushner

Startup loses money in first year, news at 11

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034378)



Reply Favorite

Date: December 29th, 2017 12:14 PM
Author: ...,,..,,.,

Yeah but not that much.

Kind of wish I could afford such an experiment. But I'd have to have a trust fund or something.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034399)



Reply Favorite

Date: December 29th, 2017 12:30 PM
Author: A Jurisprudence is Performed

My goal for this year was zero, so I'm not that far behind. I did think there would be more expenses, and more income. So I was close to zero, but not how I expected to reach it.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034556)



Reply Favorite

Date: December 29th, 2017 12:14 PM
Author: Judas Jones

damn, I was starting to think from other poasters that everyone makes 6 figures easy their first year solo

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034388)



Reply Favorite

Date: December 29th, 2017 12:14 PM
Author: A Jurisprudence is Performed

not flame watching TT make it was one reason I thought I could do this. He is the laziest and worst lawyer in history yet claims to make $200K a year working from Thailand

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034402)



Reply Favorite

Date: December 29th, 2017 12:55 PM
Author: "'"'''''""'


he also practices in california

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034748)



Reply Favorite

Date: December 29th, 2017 12:58 PM
Author: A Jurisprudence is Performed

This has a lot to do with it. I changed from a defense counsel in a blue state to a plaintiffs' counsel in a red state, and the difference in how cases are valued is just shocking. I knew that would be true to some extent but I deeply underestimated the degree.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034764)



Reply Favorite

Date: December 30th, 2017 1:17 AM
Author: .,,.,.,.,,,,,.......,.,,

What's the hype with PI law and Cali? Still don't get it

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35040181)



Reply Favorite

Date: December 30th, 2017 1:35 AM
Author: .,,.,.,.,,,,,.......,.,,



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35040303)



Reply Favorite

Date: December 30th, 2017 1:20 AM
Author: .,.,,.;;...;;.;;;.;.;.....;.;;;;.....;


MODS!

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35040208)



Reply Favorite

Date: December 29th, 2017 12:15 PM
Author: ...,,..,,.,

Yeah, you don't. You especially don't if it is in any way conditioned on clients getting your bills in the mail for services already performed and paying them (lol).

Any sort of solo practice along those lines just isn't going to function without a lot of other stuff to balance it out.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034406)



Reply Favorite

Date: December 29th, 2017 12:15 PM
Author: Gregor

What is the size of your household?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034405)



Reply Favorite

Date: December 29th, 2017 12:17 PM
Author: A Jurisprudence is Performed

2300 sq ft, give or take

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034429)



Reply Favorite

Date: December 29th, 2017 12:15 PM
Author: chandler (chandler)

Did you get any clients?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034410)



Reply Favorite

Date: December 29th, 2017 12:20 PM
Author: A Jurisprudence is Performed

"getting" clients is laughably easy in contingency practices, which is something I didn't really understand. I've literally never had a client who I wanted to sign up, refuse to sign up.

It's the opposite, I spend more time turning people down. One of the worst parts of the solo life is listening to people who have no case. Many of these people will vociferously argue with you, beg, cry. It can be a real time suck and again is something that biglaw didn't prepare me for.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034452)



Reply Favorite

Date: December 29th, 2017 12:21 PM
Author: chandler (chandler)

Did you advertise? If Kenny and I bring in no income next year I'll be homeless.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034460)



Reply Favorite

Date: December 29th, 2017 12:23 PM
Author: A Jurisprudence is Performed

so cal is a nice place to be homeless.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034481)



Reply Favorite

Date: December 29th, 2017 12:16 PM
Author: .,.,...,..,.:.,:,,:....,:::,..,:,.,.;..:.,:.::,, (dishy apex chad)


monthly overhead?

fees earned? practice areas?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034425)



Reply Favorite

Date: December 29th, 2017 12:26 PM
Author: A Jurisprudence is Performed

Monthly overhead, setting aside case expenses, is about $1100-1200. $800 for rent, $150 for telephone/fax, plus WL fees, random office supplies.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034511)



Reply Favorite

Date: December 29th, 2017 12:20 PM
Author: sealclubber

you should be on cash accounting

you lost $12,000, not $2,000

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034446)



Reply Favorite

Date: December 29th, 2017 12:23 PM
Author: A Jurisprudence is Performed

I'm just telling you what quickbooks tells me

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034476)



Reply Favorite

Date: December 29th, 2017 12:29 PM
Author: Martin Prince (Bad (or sick) guy!)

Brother, let me know if I can help with general advice on marketing/getting clients/running a practice/etc. I am a solo in a different practice area but I'm happy to help any other XOers who want to take this journey. I made a little over $100k in profit my first year and will probably make about $220k in profit this year (adding back in my salary and the cost of my health insurance). I'm no CSLG but if I can help, let me know.

martinprincexo@yandex.com

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034547)



Reply Favorite

Date: December 29th, 2017 12:31 PM
Author: A Jurisprudence is Performed

thanks brother you can take it down.

actually email bounced back. wtf are you using a Russian website

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034565)



Reply Favorite

Date: December 29th, 2017 12:31 PM
Author: michael doodikoff

180

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034568)



Reply Favorite

Date: December 29th, 2017 12:37 PM
Author: Mario Lmao

180

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034599)



Reply Favorite

Date: December 29th, 2017 12:43 PM
Author: chandler (chandler)

180

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034645)



Reply Favorite

Date: December 29th, 2017 12:53 PM
Author: bird brain alimony explosion

Really 180 what xo is becoming

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034725)



Reply Favorite

Date: December 29th, 2017 1:02 PM
Author: beckersted, abogado.



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034780)



Reply Favorite

Date: December 29th, 2017 1:05 PM
Author: Emory law



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034804)



Reply Favorite

Date: December 29th, 2017 1:09 PM
Author: poopy dick



(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034840)



Reply Favorite

Date: December 29th, 2017 1:16 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.




(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034919)



Reply Favorite

Date: December 29th, 2017 12:31 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


i lost a lot more than that my first year, and didn't pay myself. year two was better, and i was able to take a mediocre salary. year three is when things really started working. talking with other solos (and really any startup small business), this is a common experience.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034566)



Reply Favorite

Date: December 29th, 2017 12:37 PM
Author: chandler (chandler)

How did you survive in the meantime

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034600)



Reply Favorite

Date: December 29th, 2017 12:38 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


substantial savings and wife's income

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034605)



Reply Favorite

Date: December 29th, 2017 12:40 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


also, my practice area has higher overhead than yours, so it will be easier in the beginning on the expense side for you.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034615)



Reply Favorite

Date: December 29th, 2017 12:42 PM
Author: chandler (chandler)

Our expenses will be incredibly low.

100 for our virtual office

Malpractice Insurance costs

Filing fees (we will get a lot of fee waivers)

Service of process fees

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034638)



Reply Favorite

Date: December 29th, 2017 12:45 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


my overhead right now runs about $15K per month

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034662)



Reply Favorite

Date: December 29th, 2017 12:47 PM
Author: chandler (chandler)

Jesus Christ

We should get lunch or a few beers sometime

Hit me up at zozohthchandler@gmail.com

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034683)



Reply Favorite

Date: December 29th, 2017 12:56 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


that'd be cool, yeah. so are you actually doing it? going solo?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034752)



Reply Favorite

Date: December 29th, 2017 12:59 PM
Author: chandler (chandler)

Not solo. Starting a firm with Kenny and CSLG.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034770)



Reply Favorite

Date: December 29th, 2017 1:00 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


just read one of the other threads. 180, that's awesome.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034778)



Reply Favorite

Date: December 29th, 2017 1:02 PM
Author: chandler (chandler)

U can trust me too man. I'm a mod btw.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034784)



Reply Favorite

Date: December 29th, 2017 1:17 PM
Author: beckersted, abogado.

GET.

MONEY.

BRO.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034933)



Reply Favorite

Date: December 29th, 2017 1:52 PM
Author: calishitlawguru

Damn, that's higher than my overhead. What are you spending all that money on?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35035252)



Reply Favorite

Date: December 29th, 2017 12:41 PM
Author: 1920 North Side Mick Gangster (unban my account rach!)

took profits from first bitcoin bubble

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034633)



Reply Favorite

Date: December 29th, 2017 12:46 PM
Author: LathamTouchedMe

If you're doing mostly contingency, that's not bad at all. I'm sure money will start rolling in from settlements in year 2-3. Those happy clients will refer you some more employment contingency cases (those types probably travel in the same circles). Have you talked to your local chamber of commerce or the local orgs in the area (Rotary club etc.)? Do you do employment defense work too?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034672)



Reply Favorite

Date: December 29th, 2017 12:49 PM
Author: A Jurisprudence is Performed

I would love to have a few hourly cases just to pay for expenses. But this area is saturated with employment defense attorneys, with very few employment plaintiff specialists. From what I can tell most plaintiff-side cases are brought by PI attorneys or generalists who are just trying out something on a lark. So there's more of an open market niche on the plaintiff side.

edit: also I've given a couple of speeches to HR groups and have not even gotten a single phone call out of them.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034697)



Reply Favorite

Date: December 29th, 2017 12:55 PM
Author: .,,.....,.,.,.,:,,:,,.:,:::.,,.,:,.,.::.:.,:.::,.


network with other lawyers. my area is similar - lots of employment defense attorneys, few employment plaintiffs attorneys. if you get known as an employment plaintiffs attorney you will get sent clients simply because you do plaintiffs work.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034747)



Reply Favorite

Date: December 29th, 2017 12:58 PM
Author: LathamTouchedMe

I see. I have a friend who went solo. One of the things he did to snag a nice small to mid-size business as a client was look through ads for general counsels where the company would be hiring its first attorney. He applied for the position and met with a company and explained why they'd be wasting money on a full-time gc and gave them a flat-fee deal ($6k a month to his solo firm, not including litigation for which they'd pay extra).

There are companies out there that are "in-betweeners" (too big not to have dedicated legal work but still too small be a sophisticated shopper for legal services). They need someone to map out a strategy for tackling the legal work. Too often they've been burned by expensive biglaw and midlaw firms. This client now pays his monthly bills and gives him a small base salary. I thought the way he snagged this client was pretty ingenious.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034765)



Reply Favorite

Date: December 29th, 2017 12:59 PM
Author: A Jurisprudence is Performed

that is fucking brilliant

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034769)



Reply Favorite

Date: December 29th, 2017 1:04 PM
Author: LathamTouchedMe

He's smart and extremely ballsy. He went in to the interview with what was basically a financial presentation. They loved it. He's ex-biglaw too so he was able to sympathize with the bs they'd probably been through with expensive biglaw and even boutique firms.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034797)



Reply Favorite

Date: December 29th, 2017 1:08 PM
Author: President-Elect Donald J. Trump

What did you do for health insurance?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034827)



Reply Favorite

Date: December 29th, 2017 1:15 PM
Author: A Jurisprudence is Performed

wife

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034904)



Reply Favorite

Date: December 29th, 2017 1:15 PM
Author: chandler (chandler)

I'll have to get my own health insurance fuck my ass

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35034911)



Reply Favorite

Date: December 30th, 2017 7:09 AM
Author: Tjhooker

As a former solo, I share your pain and wish you all the best.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35041187)



Reply Favorite

Date: December 30th, 2017 11:56 AM
Author: A Jurisprudence is Performed

ty, what do you do now? I'm not in "pain" btw I could live off biglaw savings & wife for literally years. That is the one part of biglaw I look fondly on.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#35042161)



Reply Favorite

Date: July 12th, 2018 8:04 PM
Author: ;;;';';;';;;;;;''';';''';


Updates?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36414965)



Reply Favorite

Date: July 12th, 2018 10:32 PM
Author: A Jurisprudence is Performed

we gonna maek it. I'll check QB tomorrow but I'm guessing 40-50K in proft for first 6 months of 2018

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416231)



Reply Favorite

Date: July 12th, 2018 10:45 PM
Author: ;;;';';;';;;;;;''';';''';


Nice man. Sorry if you posted already but what was your pre solo experience . Biglaw lit?

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416344)



Reply Favorite

Date: July 12th, 2018 11:28 PM
Author: A Jurisprudence is Performed

Yeah pretty standard.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416614)



Reply Favorite

Date: July 12th, 2018 11:56 PM
Author: .,.,,.;;...;;.;;;.;.;.....;.;;;;.....;


180.

what kind of cases do you do now

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416743)



Reply Favorite

Date: July 12th, 2018 10:47 PM
Author: beckersted.

u are 100% gonna maek it. dassit. don't equivocate. say it three times in the morning and at night.

IMMA MAEK IT

IMMA MAEK IT

I MAED IT!

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416362)



Reply Favorite

Date: July 12th, 2018 11:29 PM
Author: radio zozo

180

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416619)



Reply Favorite

Date: July 13th, 2018 11:03 AM
Author: A Jurisprudence is Performed

Just checked - $45K YTD. I also have about $20-25K in fees for settlements where I'm waiting for the check to come in, although those might take a month or two.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36418304)



Reply Favorite

Date: July 12th, 2018 8:15 PM
Author: honiara

I live my life a quarter mile at a time.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36415016)



Reply Favorite

Date: July 12th, 2018 11:46 PM
Author: honiara

Nothing else matters: not the mortgage, not the store, not my team and all their bullsh*t. For those ten seconds or less, I'm free.

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416699)



Reply Favorite

Date: July 12th, 2018 11:32 PM
Author: Boomer Life-Coach Telling You To Accept Diversity

you should have tried it straight out of law school during the great recession

(http://www.autoadmit.com/thread.php?thread_id=3843359&forum_id=2#36416638)