An inside look at how three small firm attorneys leveraged shared law office space to make their practices more successful.
Lawyers come to the shared office space concept from different paths and often discover different takeaways. Just as one practice differs from another, so do the reasons to appreciate the various benefits of a shared office space environment.
You can build a solo practice without an enormous investment and find professional relationships in a shared space. Here’s what success sounds like from the perspective of three very different lawyers.
Upgrade From a Home-Based Office and Grow Your Practice
A home-based office helps keep expenses down, but some lawyers reach a point where business is growing beyond the point where a home-based practice is no longer practical. It may be necessary to move to a location that is more convenient for your clients. That’s what happened when matrimonial and family law attorney, Anne McCarthy, received a shared space recommendation from one of her colleagues.
She explained that, after five years of practicing from home, she was able to grow her practice in a shared office environment. She appreciates the opportunity for close-by advice from peers, new professional relationships and a steadier flow of new business.
Practicing from home has its perks, but it comes with its share of drawbacks. Isolation is a big one. Shared space lets you move out of a home office and practice in a peer environment as much or as little interaction or privacy as you want.
Move to a Professional Address Without Over-inflated Expenses
Expanding into a new market can be an exciting time brimming with opportunity. But managing a professional office in two cities at once usually means double the cost and double the responsibility. A virtual law office space provides the address and presence that you need without the hassle of managing two offices.
For Jeff Greco of the Houston firm, Greco & Associates, a virtual law office expansion was the right choice. He explains that it’s the perfect solution “as we expand our practice from our base of operations in Texas into New York City.” He values the ability to “find attorneys to make appearances,” getting practical advice and the sense of community.
With shared office space in the virtual realm, clients find the peace of mind of a real brick-and-mortar address, and you enjoy a presence in a new city without the time and financial costs of management and upkeep.
Start Your Own Practice in an Affordable, Professional Environment
The conventional path for new law school graduates typically involves employment with a firm or corporation. However, a new survey shows that more lawyers would go solo if it were affordable.
Shared office space is affordable. That’s one of several reasons why commercial litigator, Vivian Sobers, is happy with her decision. She skipped conventional route and opened her practice shortly after graduation.
Sobers explains that, with her shared office, she has “found a like-minded group of attorneys that have referred cases to my firm and have also provided a sounding board for practice issues when they have come up, which is invaluable.” For Sobers, having the opportunity to learn the ropes of running a solo practice from others who have been there helped her practice get off the ground and continue to grow.
Shared law office space isn’t a compromise. It’s an opportunity.
For some, shared law office space is the opportunity to branch out into a whole new territory. Others find that the camaraderie and professional relationships are a shot in the arm. New graduates gain the freedom to launch on their own instead of becoming an employee. Everyone enjoys the convenience of an on-site staff of skilled professionals who handle the non-legal aspects of the normal office routine.