Should I quit my pursuit of a law career and start a business?

I am currently doing my Master in Law and realized my passion for law has waned. Looking at all the startups doing well, I am thinking of completely closing the chapter on law and starting a whole other book on business and who knows, grow an empire some day?

  • Having a law degree will make you more attractive as a co-founder. I am beginning the journey of starting my first company. It would be nice to have someone with a law degree on my team.

  • My co-founder is a lawyer and I must say, when we sit down with people for a meeting and they find out that he’s a lawyer, the panties come flying off dude… it’s unreal. LOL

    Just kidding.. But seriously, get your Master’s … those are only like 2 year programs… Finish it while going through the ideation phase of whatever startup you want to do.

  • Finish the degree, because you’ll always have it. Your startup will probably shutter its doors within three years.

  • Finish your degree. There are plenty of great business opportunities today and there will be plenty of great business opportunities next year and the year after.
    Actually my advice would be:
    Finish your degree
    Work for a startup for at least 1 year.
    Start your own business.

  • As a “recovering lawyer” I practiced law for 12 years before I left to go to the “client side” of business. I would not only complete the LLM program I would ensure that if haven’t done so you take and pass the bar exam and spend at least 1-3 years practicing law with an established law firm. Here’s why.

    1. While entrepreneurship sounds glamorous, as a lawyer you’ll get to see a more complete picture of the good and bad of startups while getting paid.

    2. By learning from those who have experience assisting companies navigate successes and failures (from VC, to IPO to Bankruptcy) you’ll be able to objectively observe and assist others navigate the process before taking on the risk.

    3. While practicing law you may develop relationships with really successful entrepreneurs who might ask you to leave your firm and join them.

    4. If you really want to be an entrepreneur, start your own law firm. You’ll have subject matter expertise and, like any startup, there’s serious risk when you start personally guaranteeing leases, bank lines of credit, employee issues and other expenses of a law firm. If you’ve got the stomach to handle those risks and you can successfully navigate those waters, then maybe you’re ready to try something different.

    If you’re dead set against practicing law you might think about using all that education for the entrepreneurial side of the law. There are private equity/hedge fund type firms like Parabellum Capital in NY that are in the “litigation finance” business. You may want to investigate that option. At least it will allow to use your education to make entrepreneurial decisions. The only drawback you’ll discover is that without real world legal experience there’s a wide chasm between education and experience.

    Good luck.

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