I am a highly experienced in-house Paralegal who is considering starting a fully remote business from home.

Anonymous

March 20,2023 at 4:34PM UTC

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I am a highly experienced in-house Paralegal who is considering starting a fully remote business from home. Since being laid off a couple of months ago, i have received several remote assignments and I have been working with another part-time client for years as my side hustle. With the preliminary research and networking I've done, there seems to be a good amount of work available for my skill set. I would like to make the shift for flexibility and independence (kids are out of the house but i have aging parents). I have medical, dental and vision coverage so that is not a concern.

I have been interviewing for regular employee based jobs and my heart is just not in it. They are good jobs but not flexible enough and just too much wasted time at not a high enough salary given the economy.

I'd like to ask the community's thoughts on things I should consider before moving into a Consulting or Contractor capacity. I'm just beginning to really warmup to the idea so I'm sure I haven't thought of half the things necessary to truly set this in motion. I am working on my rate card and budget but beyond that I am open and would truly appreciate any advice or tips you would have. I am grateful for this community.

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CEJNYCMarch 20,2023 at 5:28PM UTC
Whatever you decide to do, pls make sure to use a separately formed legal entity in which to conduct your business and to protect you personal assets. You will also need malpractice insurance - that can get expensive for certain areas of law, such as securities. You will need an easy-to-use billing system. All these costs should be factored into your decision. Wishing you all the best!!
AnonymousMarch 20,2023 at 7:38PM UTC
Thank you! I have made an appointment with my CPA who has a business planner working in his office so I will plan all of this
Lesa Edwards, Career Coach & Master Resume WriterMarch 20,2023 at 7:48PM UTC
I recommend working with a business coach who specializes in startups - this ultimately can save you money and time.
AnonymousMarch 20,2023 at 8:53PM UTC
Most of the work I will be doing is as a 1099 contractor but I will definitely speak with a coach to see if there are strategies I should be considering now and down the line.
Cara HouserMarch 20,2023 at 10:10PM UTC
YES - starting your own business as a solopreneur can be an excellent way to craft a work life of autonomy, abundance, and fulfillment. I did it 7 years ago and ran my own real estate development consultancy for 5 years before launching my career advisory business.
AnonymousMarch 22,2023 at 12:30PM UTC
(Assuming you are in the US here) Check with your state/local business groups/guilds or your state business/workforce agencies. Sometimes they have resources available (learning, coaches, seminars) that are usually free for the public. I would also look for any local women or small business owner groups as well. They can be fabulous resources for information as well as a good start on a network of potential clients. The Small Business Administration (sba.gov) site has a lot of information on it as well that might be helpful.
Liz MilneMarch 22,2023 at 4:39PM UTC
As someone who's done exactly this - work out a budget and price yourself realistically. You might want to work cheap to get self-employed experience, but working for less than a realistic hourly rate is a mistake: you end up exhausted, working too many hours and still not being paid enough! (Work out what you need to earn in a year - then work out how many hours per week you want to work, remembering time off for weekends and holidays. Factor in about 7 to 14 sick (or just-in-case) days too. Take weekends, holidays and just-in-case days away from 365 - that's how many days you want to work - multiply that by the hours you want to work, and then divide your annual income needs by that number of hours - that's your hourly rate.)
Set a zero tolerance approach for your working hours. Yes, you'll be at home and flexible - but it's your flexibility, not your partners', family members' or neighbour's - people will want to drop in to chat, will expect you to sign for their parcels, pick up their children, run errands etc - and before you know it, your working day is broken up and you're exhausted because you're on from early morning until midnight constantly running from here to there!
Have a designated work space that no one else is allowed to use, with a lockable door for preference. I work in my living room (tiny house) and I hate it - I lust for an office!
It can be isolating working alone, so take time to leave your house once or twice a week for lunch at a cafe - or to meet a friend to chat. This is a good way to deter the drop-in chatters: tell them you'll meet them for a sandwich and a coffee at lunchtime as you're working on confidential info so can't let them in!
It's hard - but it is worth it! Having work available in your field is half the battle, especially as you have the qualifications you need, so you will soon have a good stable of nice customers (weeding out the bad ones is a trial!) and will look back on your salaried days with a shudder!
Good luck! xx
AnonymousMarch 22,2023 at 6:23PM UTC
All great advice here! I would also love to add my dos pesos here - one of the things that I wished someone had told me at the outset is to have clarity on the type of client/business partner that you would like to work with and the boundaries that you need - respectful of time/energy, communication, etc.
Good luck?
Luisa CorreaMarch 27,2023 at 1:03PM UTC
SCORE can set you up with a mentor. It’s free!
https://www.score.org/