My most recent guest on The Law Practice Doctor was Attorney Adam Krause. What a great interview. Adam is an attorney from Kansas City who’s emphasis is in trial practice and litigation that focuses on personal injury and mass torts. Adam shared some great information for young attorney’s just starting out. Here is a snippet of that interview.
Any good doctor knows, when we’re talking to a new patient we want the opportunity to take a good history. So with that, give a little bit more of an introduction on yourself, your law firm, and how you got to be where you are today.
We started this practice knowing that we wanted to represent individuals, not corporations. We wanted to work on personal injury cases and mass torts. And so kind of a background of how I got into law is a little bit different than most people. I graduated from the University of Kansas with an undergraduate degree in Human Biology. And when I started law school, I was one of three students who had what’s called a hard science background.
So I’ve been in practice for about eleven months. Prior to law school I actually sold pharmaceuticals in the neuroscience division for Eli Lilly and Company. So a large pharmaceutical company, and now our law firm sues pharmaceutical companies.
What sort of pushed you to sort of create this law firm for yourself?
I’ve always kind of had an entrepreneurial spirit, even while in law school I had a small online business that you know, was a little bit of a revenue generator, and I did that for a little bit. But really the draw of it is that I kind of broke it down to financials. And you know I don’t want to get too much into it because it’s not all about money, but certainly a portion of it is. And you know, what I saw what was being offered out there to work at a small plaintiff’s firm as an employee, rather than a business owner, it just kind of baffled me where I said, “Well look, I can make that same amount of money by settling- or not even taking a case to trial, but settling two, three, four cases. And I just- I thought to myself that, ‘You know what? I could probably go get those cases, and I could do a real good job with them.’ When I broke down the finances I said, “Well look, this is how much an employee gets paid, and this is how much a business owner can actually make.” And I was really just kind of a tee chart on a piece of paper where I said ‘pros and cons’ and there was a whole lot more pros of being a business owner than being an employee; for me at least.
So in your experience, what are some of the things that you’ve found as business hurdles or obstacles that you’ve sort of run into. And then how have you sort of overcome those?
One of the obstacles everyone kind of told me when I graduated law school and I decided to start my law firm with Robert right out of law school was, “Well you’re going to be too young and nobody’s going to be able to trust you to be a lawyer. They won’t think you have the experience to be a lawyer.” I could say without a doubt that that has been very, very far from the truth. If I’ve gotten a client to walk in the doors to my office, I have yet to have anyone who hasn’t hired me. If there’s anyone that’s listening who is a young attorney, or someone who doesn’t think they have the experience to actually practice law or start a law firm by themselves, it can be done and it’s not really a hurdle that’s actually there.
To learn more about Adam visit his website at http://www.krauseandkinsman.com/
This is a transcript of a recorded live presentation. It is in spoken-word format. While we have cleaned up the transcript a bit for easier reading, it is not in edited written-word format.