Episode 161: Partnership or Sole Proprietorship? What to consider before you jump!

In this podcast, the fifth episode of eight in the CLI’s Women Legal Business Founders and Leaders Series offered through our Legalpreneurs Lab, Women Legalpreneurs Special Interest Group, Sheetal Deo, Founder and Principal Solicitor, Shakti Legal Solutions facilitated a discussion focussed on Partnership or Sole Proprietorship and what to consider before you jump, with two outstanding women founders and leaders from Australia:

• Natasha Blycha, Managing Director & Founder Partner, Stirling & Rose
• Kelly Gatehouse, Principal Lawyer and Director, Nurture Law

Topics covered in this session included:

• How you know when you’ve reached a decision point in your career, the alternatives available to you, and how to compare/assess them
• The key differences and considerations between partnership and sole proprietorship
• The realities of starting and running a legal business: solo or a team; growing the business or not; home office or not; funding options; balancing doing the work and managing your business
• Why you need and how to create/integrate a multidisciplinary team inside/outside your firm, or both
• The importance of mentors, advisors and support – who you need, where to find them, and how you translate advice into actions steps

If you would prefer to watch rather than listen to this episode, you’ll find the video in our CLI-Collaborate (CLIC) free Resource Hub here.