Do You Want to Start Your Own Firm?

I admit it:  I am a fan of the Wall Street Journal.  I have read it almost every week day since I was 19, and actually got chill bumps when they started a Saturday edition a couple of years ago.  The editorial page makes me mad as hell every morning, but quite frankly I think it is important to get mad as hell about something every single day. 

Yesterday the WSJ had a great article titled "So, You Want to Be an Entrepreneur."   The intended audience is those who want to start a business, but many of the points made apply to those who intend to start their own law practice.  Here are the ten questions that the article encourages you to ask to see whether you are "up for the challenge of entrepreneurship:"

1.  Are you willing and able to bear financial risk?

2.  Are you willing to sacrific your lifestyle for potentially many years?

3.  Is your significant other on board?

4. Do you like all aspects of running a business?

5. Are you comfortable making decisions on the fly with no playbook?

6. What’s your track record of executing your ideas?

7. How persuasive and well-spoken are you?

8. Do you have a concept you’re passionate about?

9. Are you a self-starter?

10. Do you have a business partner?

Read the entire article here.