Do you have what it takes to be a sole practitioner?

One-third of the lawyers in private practice in Ontario are sole practitioners. As a solo, it’s great to have the freedom that comes with being your own boss, but you also have full responsibility for all aspects of the operation of your law practice.

Do you have what it takes to be a sole practitioner?

This quiz helps identify your strengths and weaknesses and gives you a better idea of whether you’re cut out for solo or small firm practice.

Rate your skills by selecting the appropriate number, using a scale of 1 to 5.

1. GETTING CLIENTS

Projecting confidence in your skills; networking; client service follow-up; asking for referrals; identifying client needs; tracking competitors

2. MARKETING

Advertising/promotion/ public relations; annual marketing plans; marketing strategies; pricing; social media

3. FINANCIAL PLANNING

Cash flow planning; bank relationships; management of credit lines; monthly financial statements

4. ACCOUNTING

Bookkeeping; monthly profit and loss statements/balance sheets; quarterly/annual tax preparation; billing, payables, receivables

5. ADMINISTRATIVE

Scheduling; payroll handling; benefits administration

6. HUMAN RESOURCES MANAGEMENT

Hiring employees; motivating employees; general management skills; firing employees

7. BUSINESS SKILLS

Presentation skills; computer skills; written communication skills; word processing skills; time management/organizing

8. INTANGIBLES

Ability to work long and hard; family support; ability to work alone; ability to manage risk and stress; ability to deal with failure; ability to work with and manage others
Press submit to find out if sole practice is for you:
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