LEAPingAhead: NC LEAP -- Lawyers are the Entrepreneurs' Movement

Article Date: Friday, November 19, 2010

Written By: Mary Horowitz

According to the Kauffman Foundation, 80% of Americans believe that the U.S. economy has been, and will continue to be, built by entrepreneurs. Accordingly, if the U.S. economy is going to have a sustained recovery, it will be up to its entrepreneurs to lead the way. As lawyers, we have the ability to help lead the economic recovery-both through our practices and through our support of clients. To do so requires an entrepreneurial mind and spirit.

Every lawyer has the potential to become entrepreneurial-minded. Thinking like an entrepreneur is something that we do every day in our work as attorneys, no matter what our practice setting. Starting your own firm, thriving as an associate, building your practice as a partner, and practicing in a non-traditional role are all areas where an entrepreneurial mind will only help push you past your competition. Below are seven characteristics that Entrepreneur.com  considers essential for the successful entrepreneur.

1. Do what you enjoy.
The legal profession has many possible paths for legal graduates, and a niche exists for everyone. Find yours.

2. Plan everything.
This goes well with the saying, “always be prepared.” Lawyers know that each scenario we run into has many possible outcomes, and we need to be prepared for everything.

3. Remember, it’s all about the customer.
Clients are who pay our bills. Keeping the clients happy (ethically) and informed are two great ways to start building a relationship for life.

4. Be accessible.
Taking calls, returning calls and e-mails promptly, and generally keeping clients informed are great ways to build new relationships and strengthen the attorney-client relationship.

5. Become known as an expert.
This helps with reputation building, but is important alone as well. Experts are called on for many things, and people will begin to seek you out if you’re known as an expert.

6. Build a rock-solid reputation.
As lawyers, we stake our professional reputation on our stock in trade – our work product. Make sure that anything that has your name on it is the best work you can produce. (Thanks to Gene Pridgen for this nugget.)

7. Get involved.
Successful entrepreneurs get involved in their communities and their professional networks. Being involved in the community that supports your practice helps build relationships, and most people like to do business with people they know, like, and respect. There are many opportunities to get involved within the Bar Association, including NC LEAP. 

Of the above characteristics, how many do you possess? I suspect that if you’re anything like me, you have mastered several, and the rest are works-in-progress. If “Get Involved” is still a work-in-progress for you, or if you’re looking for new ways to become involved with your community, I encourage you to volunteer with NC LEAP. Just as entrepreneurial-minded lawyers are succeeding in their practices, entrepreneurs in other business niches need assistance that only lawyers can provide when starting and growing their businesses. Join NC LEAP in supporting local entrepreneurship today!

Mary Horowitz is the Director of NC LEAP. She can be reached at mhorowitz@ncbar.org or at (919)677-0561. You can learn more about NC LEAP at www.ncleap.com .

Views and opinions expressed in articles published herein are the authors' only and are not to be attributed to this newsletter, the section, or the NCBA unless expressly stated. Authors are responsible for the accuracy of all citations and quotations.