While most busy attorneys don’t have trouble making money, many still like to do a little work on the side. For starters, the extra cash is never unwelcome no matter how well you’re doing professionally. Furthermore, a side business can help lawyers to transition to an independent career in the future, if desired. Here are thirteen great side business ideas for lawyers.
Offer Personal Coaching Services
One of the best ways to leverage your legal expertise for additional income is by offering coaching services to new attorneys. Pick a specific area of practice to zero in on and focus solely on that to start. For instance, you could teach young up-and-comers trial techniques or show law firms how to better manage their offices.
Sell a Niche Legal Course
Another great way to monetize your know-how is by creating a course that runs more or less on autopilot. For instance, you could create an online class entitled “Confidence in the Courtroom” or the “The Business Side of Law” and offer it via a platform such as Udemy, Educadium or OpenSesame for maximum exposure.
Develop a Helpful App for Lawyers
Producing a mobile app targeted at legal professionals can be surprisingly profitable if you know how to market it. A top-selling app on iTunes or Google Play can potentially net millions. You can hire a developer on Elance or Upwork at an affordable rate if you don’t have any existing programming skills.
Publish Legal E-Books Online
The great thing about writing e-books is that they can pay off for a long time after you’re done putting in the effort. Publishing e-books is easier than ever thanks to platforms like Amazon Kindle and Barnes & Noble Nook. To really maximize your profits, create an audiobook version of your text for iTunes.
Conduct Test Prep Courses
Studying for the bar exam in any state is often the most stressful part of any would-be litigator’s career. If you have a knack for teaching, you could always become a test prep coach for law students. Sites like Barbri connect knowledgeable coaches with hungry law students and allow attorneys to rake in the cash.
Teach as an Adjunct Professor
A great attorney can seriously boost his or her earnings by taking a position as a professor at a law school. While this particular path requires a lot of effort to see through to the end, good law professors can potentially double their annual incomes by teaching just a few classes per week.
Create a Popular Podcast
Nowadays, podcasting is serious business and podcasters with die-hard followings can benefit via advertisements and endorsements. Starting a podcast is easy since all you need is a mic, a laptop and a little opensource editing software. Though it may take some time to build a passionate audience, podcasts are simple to monetize.
Deliver Speeches at Private Functions
With enough cachet, any speech giver can make serious cash just by spewing solid information to their rapt audiences. The key is to develop a good reputation before demanding top dollar. Start out small and ask for a few hundred bucks per presentation. Once you’re a name on the speech circuit, you can command far higher rates.
Write Articles on Your Specialty
If you’re an especially gifted writer, you can make extra money on the side producing freelance articles for periodicals and legal websites. Start out by guest posting on legal blogs to build a reputation for yourself and pursue increasingly lucrative writing opportunities. Within a year, you should be drawing a significant income from articles.
Create CLE Classes
Any competent attorney can create and teach their own Continuing Legal Education courses for their legal peers. Check with the state bar to see what the requirements are for teaching CLE classes in your jurisdiction. The American Bar Association’s official website is a great resource for those interested in making money with CLE course instruction.
Do Legal Research for High-End Firms
While paralegals are typically used for basic legal research, it sometimes makes more sense to have an attorney do it in cases that require specific legal expertise. If you can carve out a niche for yourself as an ace researcher for high-profile litigation, performing legal research can be nearly as lucrative as taking cases for yourself.
Publish a Legal Blog
If you don’t want to take the guest posting route, you may want to simply put out your own blog instead. The advantage of running your own site is the fact that you can monetize it as you see fit through ads and affiliate links. Platforms like WordPress allow even amateurs to quickly build a blog.
Become a Head-Hunter
Despite the existence of Monster and LinkedIn, many attorneys and top-tier firms prefer to use headhunters to find employment and fill available spots. Matching up-and-comers with law firms where they’ll really make a difference. If you’re a real “people person” that’s good at spotting talent, a headhunter side gig can really boost your annual income.
A Whole New World for Enterprising Lawyers
For better or worse, digital communications technology is changing the legal industry in ways that are still difficult to comprehend. Ambitious legal eagles that are interested in more than a static annual salary can parlay this reality into a financial bonanza. If you’re willing to get creative, any of the aforementioned ideas can work wonders.