There are many factors to consider when choosing an attorney.  As a small business owner, you need to have the best possible advice on legal/security matters.

(Note: “Small business” does not mean small in revenue or profitability– that’s yet another future Blog post- “Why “Small Business” Isn’t a Putdown…)

Your Professional Team

It is better to have these relationships established BEFORE there is a pressing emergency. In many cases, an ounce of prevention can equal a tanker truck full of “cure” (Corporate record keeping is one such area). You should have established relationships with the following people on your professional team:

1. Lawyer (attorney)

2. Business insurance agent

3. Accountant/CPA

4. Banker

5. Mentor/Coach 

Choosing your Lawyer: 

1. You want a business lawyer, not one that handles divorces, or child custody, or your Uncle Ned who passed the bar exam on his ninth try and operates a Hair Care, Smoothie Bar and Law Office in Wichita.  Lawyers come in two types, those who specialize in litigation/lawsuits and those who specialize in day-to-day stuff like contracts, agreements, and other legal mumbo-jumbo.  These second types are what you want- they are sometimes called ”Transactional Lawyers”.  (Of course if you are already involved in a lawsuit, then you want the litigator) 

2. You want to choose a lawyer who is licensed in your state.

3. You want to hire a lawyer who has experience in your specific type of business, especially if there are going to be a lot of contracts that need to be evaluated and/or written.  At attorney rates, it is just too expensive to have to pay them to learn the basics of your business and the special issues that arise.  You are better to find one that already has relevant experience in your field as compared to a generalist. 

4. You want a lawyer who is actively engaged in his law practice.  Things change and you want someone who is abreast of the changes so they can let you know when things come up that concern your situtation.  You want a successful person like yourself to represent you.

5. You want to meet them and make sure you are both on the same page. You can interview attorneys like you interview real estate agents, they want your business and know they need to earn it.  Look for people that you can understand, that do not drag everything out, that appear authentic, and who you trust.  But you aren’t looking for a friend, they can be found for far less money per hour, you want someone who exudes competence.

6. You will ask for and check references.  (You really should check them you know).

7. You need to discuss money and fees.  A great lawyer at $350 an hour could be a bargain compared with the incompetent one at $200.  Sometimes you get what you pay for. Sometimes not.  If they have relevant experience in your field, they make only charge you for 30 minutes to pull something from their files, and fax or email it to you with a cover letter. If they are starting from scratch, you might be looking at a four hour project or even more for them to research and draft the entire reply.  Which is better? 30 minutes at $350 and hour or 6 hours @ $250?  Have I made the point that specific experience is good?

8. Talk to at least three attorneys, then make your decision.  I know this is hard, and it is a pain in the neck, but you will be working with this person and his team for the next ___ years, isn’t it worth it to choose the right firm?

Getting Referrals:  

This is the tried and true method to finding any professionals for your team.  As long as you ask the right people, referrals can be the key to finding a great attorney.  You are better off asking people in your field of business, or associations in your field for recommendations because they will refer you to people who understand your field already (as discussed above).

Secrets to Using Your Attorney Wisely:     I’ll discuss this in a future post.  The key is preparation.  See you soon…

Have a great day!  

Rob