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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...
titillating irate lay
  12/29/17
what did you pay yourself?
Motley International Law Enforcement Agency
  12/29/17
$0, this is not some accounting scam whereby I make it look ...
titillating irate lay
  12/29/17
1. what kind of practice areas do you do? 2. mostly cont...
Motley International Law Enforcement Agency
  12/29/17
Employment contingency, mostly but not exclusively. I ended ...
titillating irate lay
  12/29/17
number of files - about 30. But some of those are matters w...
titillating irate lay
  12/29/17
explain how your marketing plan should have been
Motley International Law Enforcement Agency
  12/29/17
just simple stuff, have the website already up, the blog art...
titillating irate lay
  12/29/17
had lunch with a solo buddy last week. He gets majority of h...
Motley International Law Enforcement Agency
  12/29/17
I do get some referrals, but this is another area where bein...
titillating irate lay
  12/29/17
networking with other professionals who come into contact wi...
Concupiscible doctorate center
  12/29/17
Bro if you get any PI referrals will you send them to us
Opaque range
  12/29/17
will you pay me a referral? do you handle workers comp claim...
Concupiscible doctorate center
  12/29/17
Of course we will pay you a referral. I think we're undecid...
Opaque range
  12/29/17
i have very little exposure to PI or workers comp. a few a y...
Concupiscible doctorate center
  12/29/17
One incredible PI case can make all of us millionaires.
Opaque range
  12/29/17
How did you get your cases?
Opaque range
  12/29/17
some online advertising, some referrals. Recently an older l...
titillating irate lay
  12/29/17
i'd pay 2k to not have a boss
Flesh flatulent hunting ground
  12/29/17
...
Tripping nursing home national security agency
  12/29/17
What are your loss leaders? How to sharpen for the next yea...
Passionate Deep Stag Film
  12/29/17
...
Tripping nursing home national security agency
  12/29/17
Yeah I was actually surprised when I ran the numbers, it fee...
titillating irate lay
  12/29/17
Attaboy. Nice work. I know, the whole $300 per hour th...
Passionate Deep Stag Film
  12/29/17
terrified of state court, terrified of criminal law.
titillating irate lay
  12/29/17
you can do it.
Tripping nursing home national security agency
  12/29/17
DUIs are perfect guinea pigs for you, man.
Passionate Deep Stag Film
  12/29/17
State court should be your best friend as P's attorney. Gott...
navy jap
  12/29/17
...
supple bearded toilet seat
  12/29/17
Why would you be scared of state court?
Opaque range
  12/29/17
I have never practiced in my home state's court. I literally...
titillating irate lay
  12/29/17
You'd be amazed at what they will let you get away with not ...
supple bearded toilet seat
  12/29/17
do they have online filings system in your county? If so...
Motley International Law Enforcement Agency
  12/29/17
state court is great man.
Motley International Law Enforcement Agency
  12/29/17
I'm not even a lawyer and I know that these are two things y...
Irradiated Fluffy Property
  07/13/18
Startup loses money in first year, news at 11
Judgmental trip hospital
  12/29/17
Yeah but not that much. Kind of wish I could afford such a...
Passionate Deep Stag Film
  12/29/17
My goal for this year was zero, so I'm not that far behind. ...
titillating irate lay
  12/29/17
damn, I was starting to think from other poasters that every...
vibrant philosopher-king lodge
  12/29/17
not flame watching TT make it was one reason I thought I cou...
titillating irate lay
  12/29/17
he also practices in california
vivacious haunting coffee pot
  12/29/17
This has a lot to do with it. I changed from a defense couns...
titillating irate lay
  12/29/17
What's the hype with PI law and Cali? Still don't get it
Blue Arrogant Party Of The First Part
  12/30/17
...
Blue Arrogant Party Of The First Part
  12/30/17
MODS!
hot piazza internal respiration
  12/30/17
Yeah, you don't. You especially don't if it is in any way c...
Passionate Deep Stag Film
  12/29/17
What is the size of your household?
Spectacular soggy fortuitous meteor
  12/29/17
2300 sq ft, give or take
titillating irate lay
  12/29/17
Did you get any clients?
Opaque range
  12/29/17
"getting" clients is laughably easy in contingency...
titillating irate lay
  12/29/17
Did you advertise? If Kenny and I bring in no income next y...
Opaque range
  12/29/17
so cal is a nice place to be homeless.
titillating irate lay
  12/29/17
monthly overhead? fees earned? practice areas?
fiercely-loyal khaki den
  12/29/17
Monthly overhead, setting aside case expenses, is about $110...
titillating irate lay
  12/29/17
you should be on cash accounting you lost $12,000, not $2,0...
marvelous very tactful french chef headpube
  12/29/17
I'm just telling you what quickbooks tells me
titillating irate lay
  12/29/17
Brother, let me know if I can help with general advice on ma...
At-the-ready new version place of business
  12/29/17
thanks brother you can take it down. actually email bounc...
titillating irate lay
  12/29/17
180
Motley International Law Enforcement Agency
  12/29/17
180
Mind-boggling bawdyhouse dopamine
  12/29/17
180
Opaque range
  12/29/17
Really 180 what xo is becoming
medicated point wagecucks
  12/29/17
...
Tripping nursing home national security agency
  12/29/17
...
Poppy Meetinghouse
  12/29/17
...
razzle-dazzle pungent weed whacker resort
  12/29/17
...
Concupiscible doctorate center
  12/29/17
i lost a lot more than that my first year, and didn't pay my...
Concupiscible doctorate center
  12/29/17
How did you survive in the meantime
Opaque range
  12/29/17
substantial savings and wife's income
Concupiscible doctorate center
  12/29/17
also, my practice area has higher overhead than yours, so it...
Concupiscible doctorate center
  12/29/17
Our expenses will be incredibly low. 100 for our virtual ...
Opaque range
  12/29/17
my overhead right now runs about $15K per month
Concupiscible doctorate center
  12/29/17
Jesus Christ We should get lunch or a few beers sometime...
Opaque range
  12/29/17
that'd be cool, yeah. so are you actually doing it? going so...
Concupiscible doctorate center
  12/29/17
Not solo. Starting a firm with Kenny and CSLG.
Opaque range
  12/29/17
just read one of the other threads. 180, that's awesome.
Concupiscible doctorate center
  12/29/17
U can trust me too man. I'm a mod btw.
Opaque range
  12/29/17
GET. MONEY. BRO.
Tripping nursing home national security agency
  12/29/17
Damn, that's higher than my overhead. What are you spending ...
house-broken school cafeteria wrinkle
  12/29/17
took profits from first bitcoin bubble
Bisexual people who are hurt brunch
  12/29/17
If you're doing mostly contingency, that's not bad at all. I...
geriatric disturbing persian
  12/29/17
I would love to have a few hourly cases just to pay for expe...
titillating irate lay
  12/29/17
network with other lawyers. my area is similar - lots of emp...
Concupiscible doctorate center
  12/29/17
I see. I have a friend who went solo. One of the things he d...
geriatric disturbing persian
  12/29/17
that is fucking brilliant
titillating irate lay
  12/29/17
He's smart and extremely ballsy. He went in to the interview...
geriatric disturbing persian
  12/29/17
What did you do for health insurance?
ruby sinister foreskin round eye
  12/29/17
wife
titillating irate lay
  12/29/17
I'll have to get my own health insurance fuck my ass
Opaque range
  12/29/17
As a former solo, I share your pain and wish you all the bes...
Orchid Frozen Abode
  12/30/17
ty, what do you do now? I'm not in "pain" btw I co...
titillating irate lay
  12/30/17
Updates?
splenetic station
  07/12/18
we gonna maek it. I'll check QB tomorrow but I'm guessing 40...
titillating irate lay
  07/12/18
Nice man. Sorry if you posted already but what was your pre ...
splenetic station
  07/12/18
Yeah pretty standard.
titillating irate lay
  07/12/18
180. what kind of cases do you do now
hot piazza internal respiration
  07/12/18
u are 100% gonna maek it. dassit. don't equivocate. say i...
Crimson know-it-all ticket booth blood rage
  07/12/18
180
Fantasy-prone flickering fat ankles
  07/12/18
Just checked - $45K YTD. I also have about $20-25K in fees f...
titillating irate lay
  07/13/18
I live my life a quarter mile at a time.
Slap-happy market jewess
  07/12/18
Nothing else matters: not the mortgage, not the store, not m...
Slap-happy market jewess
  07/12/18
you should have tried it straight out of law school during t...
Copper provocative locale organic girlfriend
  07/12/18


Poast new message in this thread



Reply Favorite

Date: December 29th, 2017 12:00 PM
Author: titillating irate lay

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: Motley International Law Enforcement Agency

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: titillating irate lay

$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: Motley International Law Enforcement Agency

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: titillating irate lay

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: titillating irate lay

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: Motley International Law Enforcement Agency

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: titillating irate lay

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: Motley International Law Enforcement Agency

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: titillating irate lay

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: Concupiscible doctorate center

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: Opaque range

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: Concupiscible doctorate center

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: Opaque range

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: Concupiscible doctorate center

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: Opaque range

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: Opaque range

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: titillating irate lay

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: Flesh flatulent hunting ground

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: Tripping nursing home national security agency



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



Reply Favorite

Date: December 29th, 2017 12:06 PM
Author: Passionate Deep Stag Film

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: Tripping nursing home national security agency



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



Reply Favorite

Date: December 29th, 2017 12:10 PM
Author: titillating irate lay

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: Passionate Deep Stag Film

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: titillating irate lay

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: Tripping nursing home national security agency

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: Passionate Deep Stag Film

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: navy jap

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: supple bearded toilet seat



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



Reply Favorite

Date: December 29th, 2017 12:19 PM
Author: Opaque range

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: titillating irate lay

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: supple bearded toilet seat

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: Motley International Law Enforcement Agency

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: Motley International Law Enforcement Agency

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: Irradiated Fluffy Property

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: Judgmental trip hospital

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: Passionate Deep Stag Film

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: titillating irate lay

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: vibrant philosopher-king lodge

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: titillating irate lay

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: vivacious haunting coffee pot

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: titillating irate lay

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: Blue Arrogant Party Of The First Part

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: Blue Arrogant Party Of The First Part



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



Reply Favorite

Date: December 30th, 2017 1:20 AM
Author: hot piazza internal respiration

MODS!

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



Reply Favorite

Date: December 29th, 2017 12:15 PM
Author: Passionate Deep Stag Film

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: Spectacular soggy fortuitous meteor

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: titillating irate lay

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: Opaque range

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: titillating irate lay

"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: Opaque range

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: titillating irate lay

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: fiercely-loyal khaki den

monthly overhead?

fees earned? practice areas?

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



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Date: December 29th, 2017 12:26 PM
Author: titillating irate lay

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)



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Date: December 29th, 2017 12:20 PM
Author: marvelous very tactful french chef headpube

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)



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Date: December 29th, 2017 12:23 PM
Author: titillating irate lay

I'm just telling you what quickbooks tells me

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



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Date: December 29th, 2017 12:29 PM
Author: At-the-ready new version place of business

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)



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Date: December 29th, 2017 12:31 PM
Author: titillating irate lay

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)



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Date: December 29th, 2017 12:31 PM
Author: Motley International Law Enforcement Agency

180

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



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Date: December 29th, 2017 12:37 PM
Author: Mind-boggling bawdyhouse dopamine

180

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



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Date: December 29th, 2017 12:43 PM
Author: Opaque range

180

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



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Date: December 29th, 2017 12:53 PM
Author: medicated point wagecucks

Really 180 what xo is becoming

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



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Date: December 29th, 2017 1:02 PM
Author: Tripping nursing home national security agency



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



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Date: December 29th, 2017 1:05 PM
Author: Poppy Meetinghouse



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



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Date: December 29th, 2017 1:09 PM
Author: razzle-dazzle pungent weed whacker resort



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



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Date: December 29th, 2017 1:16 PM
Author: Concupiscible doctorate center



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



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Date: December 29th, 2017 12:31 PM
Author: Concupiscible doctorate center

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)



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Date: December 29th, 2017 12:37 PM
Author: Opaque range

How did you survive in the meantime

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



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Date: December 29th, 2017 12:38 PM
Author: Concupiscible doctorate center

substantial savings and wife's income

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



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Date: December 29th, 2017 12:40 PM
Author: Concupiscible doctorate center

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)



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Date: December 29th, 2017 12:42 PM
Author: Opaque range

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)



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Date: December 29th, 2017 12:45 PM
Author: Concupiscible doctorate center

my overhead right now runs about $15K per month

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



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Date: December 29th, 2017 12:47 PM
Author: Opaque range

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)



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Date: December 29th, 2017 12:56 PM
Author: Concupiscible doctorate center

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)



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Date: December 29th, 2017 12:59 PM
Author: Opaque range

Not solo. Starting a firm with Kenny and CSLG.

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



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Date: December 29th, 2017 1:00 PM
Author: Concupiscible doctorate center

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

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



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Date: December 29th, 2017 1:02 PM
Author: Opaque range

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

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



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Date: December 29th, 2017 1:17 PM
Author: Tripping nursing home national security agency

GET.

MONEY.

BRO.

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



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Date: December 29th, 2017 1:52 PM
Author: house-broken school cafeteria wrinkle

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)



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Date: December 29th, 2017 12:41 PM
Author: Bisexual people who are hurt brunch

took profits from first bitcoin bubble

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



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Date: December 29th, 2017 12:46 PM
Author: geriatric disturbing persian

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)



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Date: December 29th, 2017 12:49 PM
Author: titillating irate lay

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)



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Date: December 29th, 2017 12:55 PM
Author: Concupiscible doctorate center

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)



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Date: December 29th, 2017 12:58 PM
Author: geriatric disturbing persian

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)



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Date: December 29th, 2017 12:59 PM
Author: titillating irate lay

that is fucking brilliant

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



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Date: December 29th, 2017 1:04 PM
Author: geriatric disturbing persian

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)



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Date: December 29th, 2017 1:08 PM
Author: ruby sinister foreskin round eye

What did you do for health insurance?

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



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Date: December 29th, 2017 1:15 PM
Author: titillating irate lay

wife

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



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Date: December 29th, 2017 1:15 PM
Author: Opaque range

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)



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Date: December 30th, 2017 7:09 AM
Author: Orchid Frozen Abode

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)



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Date: December 30th, 2017 11:56 AM
Author: titillating irate lay

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)



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Date: July 12th, 2018 8:04 PM
Author: splenetic station

Updates?

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



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Date: July 12th, 2018 10:32 PM
Author: titillating irate lay

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)



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Date: July 12th, 2018 10:45 PM
Author: splenetic station

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)



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Date: July 12th, 2018 11:28 PM
Author: titillating irate lay

Yeah pretty standard.

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



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Date: July 12th, 2018 11:56 PM
Author: hot piazza internal respiration

180.

what kind of cases do you do now

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



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Date: July 12th, 2018 10:47 PM
Author: Crimson know-it-all ticket booth blood rage

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)



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Date: July 12th, 2018 11:29 PM
Author: Fantasy-prone flickering fat ankles

180

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



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Date: July 13th, 2018 11:03 AM
Author: titillating irate lay

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)



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Date: July 12th, 2018 8:15 PM
Author: Slap-happy market jewess

I live my life a quarter mile at a time.

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



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Date: July 12th, 2018 11:46 PM
Author: Slap-happy market jewess

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)



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Date: July 12th, 2018 11:32 PM
Author: Copper provocative locale organic girlfriend

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)