Don’t let the fear of the unknown stop you from opening your own business or doing something you are passionate about.

Featured: Jay Levy, P.A., Owner, Law Offices of Jay M. Levy, P.A.

BusinessInterviews.com:  What inspired you to open your own practice?

Jay:  That is a good question. I was inspired to open my own practice after working at a law firm for about five years and realizing that I would never make partner. At that point I knew that I was capable of opening my own law firm and that it was the prefect time in my career to do so.

BusinessInterviews.com:  What is the benefit of a boutique law firm?

Jay:  The concept of a boutique law firm suggests that it is specialized and you are therefore hiring a specialist in a specific industry. As a client, you go to a boutique law firm because you are assuming they have the knowledge and expertise for the matter you are bringing to them.

BusinessInterviews.com:  What types of cases do you usually take on pertaining to business owners/entrepreneurs?

Jay:  I generally handle oral and written contract disputes, and other related disputes, with regards to business. I also deal with disputes with banks and commercial litigation.

BusinessInterviews.com: What is one thing you repeatedly encounter that entrepreneurs and business owners should be aware of?

Jay:  Surprisingly, people don’t often read their contracts, yet in a contract, every paragraph is important. When you don’t read your contract, it is fertile ground for a lawsuit because there might be disagreement between the parties about the meaning of contract. The most important advice I can give to entrepreneurs and business owners is to read and understand the terms of every contract before signing.

BusinessInterviews.com: What has been your biggest challenge as a business owner and how have you met that challenge?

Jay:  The biggest challenge for me has been learning the business side of owning my own practice. You have to remember that running a law firm is running a business, and I was not trained in business, so making business decisions can be more difficult. It has been both a learning process and an acquired skill.

BusinessInterviews.com:  Do you have any recent success stories that you’d like to share with our readers?

Jay:  While I can’t get specific, I have had success on behalf of my clients in many cases throughout my 35 years of trial work and appeals.

BusinessInterviews.com: Have you had any mentors or role models that have influenced you? Describe the impact.

Jay:  Watching the seasoned lawyers in the courtroom influenced me when I was young and just starting my career. I learned some of my best practices this way. Additionally, my first boss was somewhat of a mentor because I was able to see firsthand the type of intensity you need to bring to the job in order to be successful.

BusinessInterviews.com: Do you consider yourself successful and by what means do you measure success?

Jay:  I consider myself successful because I like to go to work every day and every day presents a different challenge. I define success by liking what you do and making money doing it, although money should not the driving factor.

BusinessInterviews.com: What are your best referral sources?

Jay:  My best referral sources are non-litigating attorneys, attorneys that don’t like to handle complex cases, realtors and accountants.

BusinessInterviews.com: What advice do you have for other entrepreneurs and business owners who are thinking of opening their own firm? What do you wish someone told you?

Jay:  My best advice is not to be scared of unknown and remember that you are not the first person to attempt this, so it can be done. I also advise them to be careful and watch your dollars to make sure you have the money to pay staff and fund cases. I wish someone had told me how to better communicate with clients and make sure that they are always in the loop.

BusinessInterviews.com: What’s the biggest risk that you’ve ever taken and how did it turn out?

Jay:  Opening my own practice is by far the biggest risk I’ve taken, but I think it turned out great and is still rewarding 35 years later. I thought about opening my own firm and almost didn’t do it because of the fear of the unknown, but I’m glad I did.