To demystify how to leave a Big Law job to
launch your own firm, Insider spoke with
Warren T. Allen II, a former Skadden
lawyer who recently launched his own
practice with another attorney. The
following is how he did it, as told to
Insider and edited for length and clarity.
I had always thought about building my
own law practice, even back to when I
was a junior associate and reading books
on how to do it. It got more serious in
2018, and I started approaching friends to
see whether they'd be interested in
joining. But for a while, it didn't look as
though anyone would come.

So in fall of that year, I hired a coach,
who told me the only thing that was
stopping me was fear — and by
December, I was ready to pull the trigger.
But I had months of preparation ahead.
This meant I was still doing my full-time
job at Skadden, but on nights and
weekends, I was chipping away at a three-
page to-do list I made. It included items
like planning how to notify clients, listing
what office equipment would be needed,
registering entities with state bars, and
filing an IRS form. One of the first steps
was to get a Post Office box, so I could
actually have a business address when
applying for credit cards. I registered a
professional limited liability company in
Virginia, and a separate bar registration
had a delayed start date so there were no
even perceived conflicts.


Around February, I believe, I told my
bosses what my plans were, and they
were as gracious and understanding as
possible. I was going to keep working
there until the end of May.
I kept my personal and business finances
separate, so I decided early on what I was
going to invest in the initial financial
accounts. My whole career I had been a
big saver, so I didn't have to scramble for
it. The goal was to have 18 months of
runway, also aided by a bank loan and
multiple credit lines.
Before we actually started taking clients
on June 1, 2019, I had spent about $40,000
on the firm — and a big chunk of that was
in technology. I spent about $10,000 on
items like office equipment, computers,
iPads, and phones. Office space was a
major expense as well as, somewhat
surprisingly, legal-service subscriptions.
We went with Lexis, the Anti-Corruption
Report, and Law360, which especially
gave us the most bang for our buck.


But frankly, like so many others trying to
launch small businesses, you have to lean
on your family and friends. One of my
wife's best friends designed a logo and
business cards. My wife, who is much
smarter than I am, taught herself how to
build a website for the new firm.
And around this point of spring, Ray D.
McKenzie, who was then an assistant US
attorney in the Justice Department and
had previously been an associate at
Skadden, said he was going to come
along. I believe I literally jumped up and
down in my kitchen when he told me he
was in.
And when you're about to launch your
own business, you have to get really in
the weeds in logistical matters you likely
never thought about before. We didn't
have any training videos for how to pick
billing software or timekeeping records. I
had to be really thoughtful about what
would work best for us and just do a ton
of research. We landed on Practice
Panther and QuickBooks.


We obviously didn't take on any clients
when we were still working other jobs,
but we did want to plan some marketing.
So on our website, about a week before
our launch day and the full thing went
live, we started a countdown clock, going
down until June 1. We made the
announcement all over social media.
When that clock hit zero, shortly after I
left my last day at Skadden, it actually
broke our website. But that was an easy
fix the next morning — and then we were
off running.
Now some two years later, the firm,
WTAII, which focuses on assisting
companies and individuals with
government enforcement, compliance,
and litigation needs, has added a third
member, and we're in a much more
comfortable spot. The operating costs for
the first year, not including compensation,
were just north of $100,000. My pay did
not ramp up as fast as I had hoped and is
a big pay cut compared to Big Law
salaries, but it's not really about the
money.
It's about prioritizing personal
relationships inside and outside the firm
over trying to make as much money as
possible.

https://www.businessinsider.com/warren-allen-quit-big-law-and-start-your-own-firm-2021-8

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