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Overcoming the ‘big shock’ of running your own business

Thursday, June 25, 2015 @ 8:00 PM | By Grant Cameron

Talent is vital for lawyers starting a practice from scratch, but business skills are just as important, say legal industry consultants, specialists, and lawyers who’ve lived through the experience.

“Lawyers who go out on their own are often surprised at what they need to know about running a business,” says Natalie MacDonald, a founding partner of Toronto-based Rudner MacDonald and author of Extraordinary Damages in Canadian Employment Law.

“I think it comes as a big shock and that’s how people fail.”

MacDonald says entrepreneurial lawyers hanging...