Solo Law Firm Owner Shares Advice on Running Your Own Business
Maura Johnson interviews Patrick Olmstead, owner of Patrick Olmstead Law LLP, about his journey from large law firms to solo practice.
Olmstead, a former attorney at Thompson Coburn LLP and Hoover Hull LLP, decided to open his own firm in Greenwood after several years of experience. He sought "to be as close to the apex" of an organization, leading him to take on sole ownership.
Key Takeaways:
- Motivation: A desire for autonomy and witnessing partner struggles in small firms prompted Olmstead's move.
- Challenges & Growth: Olmstead emphasizes learning from trial and error, recognizing strengths and weaknesses, and understanding that one attorney can't be an expert in everything.
- Advice for Aspiring Solos: Encourages young attorneys to say "yes" to new challenges, emphasizing the importance of willingness to learn and work hard.
Listen to Olmstead's full interview on [The Indiana Lawyer Podcast](link to podcast if available) for more insights into his journey and advice for fellow attorneys considering solo practice.