If you've made the decision to set up on your own — congratulations. Following these 10 steps will help you succeed from the outset, with practical guidance and a checklist to review your progress at every stage.
Work through each step in order, or jump to the area you need. Scroll to follow your progress along the path.
Before anything else, understand what's required for your firm to be authorised and compliant — SRA authorisation, appointing your COLP and COFA, professional indemnity insurance and your anti-money-laundering obligations.
What SRA authorisation involvesThe area(s) of law you practise will define your strategy going forward — your ideal clients, your marketing and your pricing. Play to your strengths and the demand in your market.
Choosing your area of lawYour business plan is essential, but there are important items to consider first — your services, target market, financial projections and the goals that will keep you on track.
Writing your business planUnderstand the right method when it comes to billing your clients — fixed fees, time-based billing or a hybrid — and how each affects your cashflow and client relationships.
Compare billing modelsWith a physical office no longer essential, weigh the pros and cons of working from home, a serviced office or a fully virtual practice — and the impact on your overheads.
Building a cloud-first firmYour name is the foundation of your brand. Understand the regulatory considerations and practical factors — from domain availability to how it reflects your services.
Naming your firmHave you considered your marketing approach and how you'll generate new business? Plan your website, online presence and referral networks before you launch.
Winning your first clientsThe cloud lets you run your law firm from anywhere, so identify the right technology from the offset — practice management, accounting, document handling and client collaboration.
Adopting the right technologyHow much money will you need to get set up? Work out your initial and ongoing expenses, your funding options and the runway you'll need before your firm becomes profitable.
How to fund your first yearKeep our checklist to hand throughout the process to track, plan and review each step — so you always know what you've completed and what comes next.
Get the free checklistThis guide gives you the steps to create and run your own successful practice — including a checklist for when you want to review your progress or decide your next step.
Start a Law Firm