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<p>And that great pearl of wisdom comes from somebody who has yet to finish college and get his first job! And what’s your experience about law and finding work in the legal services industry in this economy? Zero!</p>
<p>Setting up your own practice takes a client base. You also need malpractice insurance which can be expensive and a docketing system. Don’t expect people to pay you $300/hr starting up either! Doing a will for your mother-in-law won’t pay the bills! </p>
<p>If you are just an associate for BigLaw it is virtually impossible to take any accounts with you when you leave. Building a client base from scratch is damn hard! I should know! I did it, but I had the benefit of 30 years in industry and a very large network of contacts I could tap! And I still needed to raise the money for my first clients to pay me!</p>