Speaking with many of my colleagues, there is a consensus that – at some time in every sole practitioner’s career – there comes a time when you start thinking about developing your practice. Some solo practitioners join with others. Some sell their businesses to already-established firms. The few who have the funds available may even buy out others’ firms/practices.
Personally, I’m a romantic – I was always mesmerized by the notion of starting a practice and building it from the ground up, with my own clerks, assistants, associates, etc. What I did not know, however, was when and how this process looked like. Fortunately, I have many colleagues and mentors who went through this process and imparted invaluable advice and wisdom as to the process and steps one should take into account before hiring their first employees. In this submission, I would like to share some of the advice I received with our readers.