You can manage your own work lifestyle, overcome challenge after challenge building up a proud list of your own personal achievements, and have more control over what you do. But should you take the plunge?
We speak to Sarah Austin who did just that. Sarah is a Law Society Council member representing Women solicitors in England and Wales and is the principal of Austins, a niche private client firm in Chiswick. She reveals the challenges she faced when leaving her position as top fee earner to venture out to start her own firm and how she overcame them.
- When did you realise you wanted to start your own firm?
It was when I was my firm’s top fee earner for three years in a row. I thought, well, if I can do it for them I can do it in my own firm. My first degree was in business administration with a background in investment banking. So I understood I would be setting up a business from a standing start without decades of goodwill behind me. My family is entrepreneurial and so it seemed like a natural next step. More importantly, it enabled me to create my own, ideal work environment.
- What challenges did you face when doing this?
There were two main challenges. When you start out in any business you are largely on your own juggling all the different aspects of the business, from compliance, regulation, overheads, marketing as well as servicing your clients. The second challenge was balancing my work and home life.
- How did you overcome these challenges?
First of all, I joined a local business network. It gave me the support and contacts that helped to establish my practice. Secondly, I signed up for training and accreditation courses that developed my managing and legal skills. It enhanced the business and helped me to market my firm by expertise and experience.
- Who would you recommend to start their own firm?
If you are creative, organised, passionate and resilient go for it. Don’t do it on your own. Ask for support and treat every day as a learning day. Above all be patient and organised. No two days will be the same, but it will be all worth it.
- Best tip on improving confidence?
Imagine you are where you want to be and act like you are there already. Know your subject and believe in your success. Talk to good friends for objective advice and guidance. Or hire a business coach. A good one will encourage and guide you towards your strengths.
- If you could go back and pick your career, would you choose law? Why?
Yes definitely, as I am a private client solicitor. What other profession would enable me to help, protect and inform people, often at a sensitive or otherwise important time in their life? Law is a great profession. Women now outnumber their male counterparts. So undoubtedly the profession’s culture will need to evolve for everyone’s benefit, to better meet changing work expectations.
- Who would you invite to your dinner party? – (you can bring people back from the dead for this one).
Nelson Mandela for wisdom. Muhamed Ali, for sheer power. Ava Gardner for glamour. Helena Kennedy contemporary insight into women in the law. My father, just because I still miss him. Marie Curie for scientific intelligence. Elizabeth I for her dynamism and political nuance. Oprah because who wouldn’t want her to come over for dinner!
