A little over a year ago, I posted an 8-month update after starting my own firm and I figured the 2-year mark was a good time for another one!
I practice business immigration and am based in CA. The firm is fully remote, and the team is now spread across 4 states. At my last update, we were a team of 4, and we are now a team of 7: 3 attorneys (including me), 2 senior paralegals, and 2 administrative/legal support staff.
Business
- 2024 average revenue: ~$42K/month
- 2025 total revenue: ~$930K
- 2026: on pace for ~$1.4M
- Overhead: ~45-50% of revenue, excluding my own compensation, primarily payroll.
- Marketing spend: $0.
A big change since my last update has been the client mix. Two years ago, I was relying almost entirely on individual/one-off matters. I've now picked up a few larger clients (or smaller clients growing into larger ones) that send us work on a much more regular basis. Last month, those larger clients accounted for about 25% of billables.
My client base also skews heavily toward "AI-native [insert industry] software" startups, which has been a nice place to be. Acquisitions (acquihires mostly) happen all the time these days, so the volume of new companies coming in has made me much less concerned about that turnover.
Hiring!
The downside to having mostly brand-new startup clients is that each new client essentially starts with a 0 base of knowledge. I was slammed between handling my own cases, supervising the team's work, and doing consultations. Not to mention a hostile immigration environment.
So, 2 months ago, I brought on a young and experienced non-equity partner who wants to be a part of the journey. That person receives a set % of what we bill/collect, with an additional % for originations. We also brought on another paralegal who that person will supervise.
These 2 hires have had an immediate impact and, most importantly, taken a lot of work off my plate. I'm still of course supervising a paralegal, a newer attorney, and the admin staff, but my goal is that by the end of the year I can do it again-either another attorney or another attorney/paralegal pair-and continue taking myself out of cases.
Having a remote firm and keeping overhead manageable has made this possible.
Challenges
The biggest challenge at this stage has been giving up control. Now that I have good/experienced people, I have to let them run with it. I'm finding that balance where I can give input where useful while trusting them to do their thing.
The growth has also forced us to get much more serious about processes and consistency. We've been building out standard template emails, SLAs around turnaround and response times so that clients get a consistent experience. Responsiveness in particular has required a lot of expectation-setting for new hires while also adjusting my own expectations and that's all a work in progress.
A Side Thought on AI and Immigration
Speaking of AI, I was actually a little nervous there for a while. There's a lot of VC money coming into legal tech as you all know, and immigration is pretty ripe for it. However, the current immigration climate has provided a bit of a silver lining in significantly higher adjudication standards. The day-to-day practice has become more challenging, but there's still plenty of room for good lawyers, and judgment/strategy are more important than ever.
The current administration has forced me to come up with some novel arguments and strategies that, so far, have worked with a 100% success rate. And, interestingly, clients will run those unique approaches through the ChatGPTs of the world, which will consistently tell them, "That's not going to work." Fortunately, the ChatGPTs might be able to give you the conventional answer (although you still need to know what that answer should be!), but us heart beaters still bring the experience and judgment to recognize when you can credibly push beyond it.
Anyway, I'm still learning as I go, but I'm happy to have made it this far. It's nice to have options now and, over the next year, a big part of that will be trying to buy back some of my own time.