Renie Leakakos decided to jump into entrepreneurship later on into her career. After relocating to Northern California, Leakakos decided to step out on her own. Her background supporting the real estate industry in both business and litigation kicked off her journey as a solopreneur. In a video interview with Hera Hub founder, Felena Hanson, Renie shares advice for attorneys who are considering private practice.
Her love for running her own business continued to grow from almost the moment she started her private practice. She realized there was a bigger need outside of litigation for business owners, so she began working to support them. Being self-employed isn’t for everyone, but for Renie, it was a decision she was glad that she made.
When asked what advice she would give an attorney who is stepping out on their own for the first time, Renie suggested that the advice would differ depending on the length of time the attorney has been in practice. For someone early on in their practice, she recommends getting experience and really taking the time to understand the law and building your confidence as a legal professional.
In addition to having time to gain more experience, this also allows you the opportunity to build up your network through solid relationships and contacts. The importance of a supportive community is something Renie says, “you may flounder” without. Great places to find community are industry-specific networking events, coworking spaces, associations or even considering joining a board or volunteer on a committee. Building a strong network is also a great place where you can find a mentor. How you show up, whether it’s at an in-person event or using social media is incredibly important as it gives potential strategic alliances and prospects the ability to get to know you more.
A lot of people struggle with finding a mentor. Renie’s advice would be to first understand what you want to do first. That will help you decide who the best person might be to ask. Asking for a quick phone call to connect with someone for the first time and being respectful of people’s time is key, according to Hanson.
Renie says that some pitfalls to avoid early on in your career as an entrepreneur is to learn to market yourself well by trying different things and seeing what works. Getting malpractice insurance, while a costly investment, is critical. Not having this may potentially prevent you from getting business.
She recommends having one to two years of money saved or have access to some sort of financial resources unless you are leaving a firm and taking a certain number of clients with you. Entrepreneurship is a long journey, so setting yourself up for success from the beginning will make things easier to navigate and you grow and get more experience.
Renie Leakakos is the Founder and Managing Attorney for Leakakos Law. Leakakos Law, APC is a full-service legal practice that specializes in supporting entrepreneurs, small business, and emerging growth companies in California. Founded by Managing Attorney Renie Leakakos in 2002, our vision is to help our clients pursue happiness, harmony, and freedom.
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