I have been a lawyer for a startup and am currently a lawyer for a small corporation. I’ve been considering starting my own business for a while now but I don’t know what type of business (not a law firm though). I’ve sat down with my spouse and brainstormed ideas. If I put my head down and focus I can be successful at most things I attempt so I want to get this right on the first attempt. I’m just curious what type of start up do you guys see a lawyer being successful at?
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Being a fractional legal council for startups at any stage would be great, I’m actually kind of jealous; most startups need someone to confer with about cap table legalities and would pay for it, you’re missing a trick not leaning into your talent
What part of the world are you in? Depends on your background and your local markets. What do you want to do?
I say make something. Get crafty, use your hands and make or build something to sell.
Where to start…
It is nearly impossible to say where a ‘lawyer’ could be successful in, other than law.
More importantly; what kind of lawyer are you? Are you a Harvey Spectre (corporate sales)? Louis Litt (very details oriented > go to the VMC. Carbon Credits Market)? Are you a Jessica Pierson? etc etc. That will tell us more ;-).
- Look at your Youtube-history and/or other media consumption. Eliminate all entertaining subjects, whats left? What are your interests in your downtime?
- Identify your skills in pragmatic blocks. So non-subject related. Why should people pay you money for your skills? What do you like in ‘startup-world’?
- How long can you go without money? This determines your realistic balance-load. A long time: 80% Passion, 20% Pain. Not so long: 50% Passion, 50% Pain.You have to have a good pain threshold. So you really have to want it. Because, believe me, entrepreneurship = pain.