The Good Life or bust

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The Good Life or bust

Postby gwuorbust » Thu Jan 13, 2011 6:55 pm

Since my statements always arouse questions I have decided to make a weblog host my recent musings and as a place where I can point people in the event people are confused with my statements.

I went to GWU for undergrad and enrolled in Tulane Law School with a schly in the Fall of 2010. I thought about retaking the LSAT for a 3rd time and going to a different school, but if I had taken a year off I would have never gone back.

I operate a study abroad company with three of my associates. This firm is focused on internships Latin America. We are mostly focused on undergrads. In the summer of 2010 our first group went and they had a great experience. In 2011 a second group is going. Right now we are aiming to have between 30 and 100 participants. We are in the middle of recruitment season right now. This summer I will make a decent amount, but not as much as if I was working on this full time. It is me and my business partners estimate that with full-time focus and dedication we could make 100k each per year (that includes future expansion from just Panama and Costa Rica to also include Brazil, Peru, etc.). Obviously, however, this puts me in an odd position relative to other lawl students. My original plan has been, and remains:

top 15% work at biglaw for 2-3 years. Quit then start a firm. I have a good friend who can pull great strings and get me interviews.

below 15% we figure that even his strings couldn't help me. So I would go with my company.

Today I got my grades back. I'm sitting at just above median. While theoretically I could bump up my grades next semester, I doubt that will happen. Which basically means I'm back to square one.

But wait you say, why did you go to law school at all?!?!? Well first b/c as much as I enjoy study abroad, it is not my dream future. I would like to work in the business of law. I do not really want to work on client's cases day-to-day; I'm more interested in growing a law firm. My law firm.

Which is where my next part comes in. Since I will have decent cash flows when I graduate, I plan on starting my own practice. I will be detailing more on this later on in a follow up post. To briefly discuss, however, since I will have the cash flows to start and maintain a firm I do think that this puts me in a different position. Normally this is an act of utter desperation. Most young law firms by recent graduates have a hard time at first b/c the founder does not have an income stream to supplement the lost income while the firm is getting started. They usually also have limited cash reserves with which to advertise. I will hopefully have an income stream and should be able to point money at advertising. While there are issues I will have to figure out before I open shop, I think most of them (malpractice comes to mind) can be addressed. And since I can grow at whatever pace I want, I want to be selective on which clients I take. I have no interest in setting up another DUI mill. I would rather work on business law with startups and medium-sized private companies.

Overall, my life story is very complicated and convoluted I know. But be that what it may, I am not one to believe that there are not opportunities. Shit has never just landed in my lap: I went out and created everything I have. I think the same is true for everyone. Do or die is my philosophy and I am going to keep pushing ahead until I succeed or I'm homeless on the streets of Costa Rica.

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