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4 Myths Associated with Operating a Virtual Paralegal Business

03 Jun 2020 12:59 PM | Cordina Charvis (Administrator)

There are several myths associated with virtual paralegal businesses. Most paralegals believe that all they need is their paralegal skills, a computer and a smart phone to operate a successful business. However, there are responsibilities, sacrifices, and disadvantages to owning and operating a virtual paralegal business.

Responsibilities

  • You will be responsible for hiring competent employees or independent contractors that reflect your business ethics and policies.
  • You must deal with the different personalities of your clients and employees or independent contractors.
  • When you assign a project to one of your employees or independent contractors your company as a whole is responsible for the completion and accuracy of the assignment.
  • You must be able to anticipate problems before they arise and take pre-emptive steps to avoid them.

Sacrifices

  • You may have to work longer hours; owning a business is more than a 9-5 job.
  • You may have to reduce your vacation, personal and sick days until your business is established.

Disadvantages

  • Your clients become your bosses. If your business does not do a great job; your clients can fire you.
  • You are responsible for your benefits such as, healthcare, retirement, sick and vacation days.
  • It can be a financial risk and you could lose everything you have invested.
  • It may not be a steady income and the lack of job security.
  • You are responsible for client development.

Advantages

With all the responsibilities, sacrifices, and disadvantages that comes with launching and operating a virtual paralegal business; there are also many advantages:

  • You get to create your own schedule.
  • You get to decide what services you would like to offer.
  • You get to decide which projects you would like to work on.
  • You will have the chance to work and form relationships with your clients.
  • You will be able to eliminate the middleman and make most of the money.
  • Even though your clients can fire you if they are not satisfied with your services; you can also fire a problem client and still keep your business.


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