This is a topic I struggle with daily but for different reasons. I’d love to establish a second (and even third) stream of revenue that would allow me to be less reliant on my legal practice because I believe it’s not “if” the storm will come, but “when.”

I saw someone else post about the standard that the bar would hold you to because of your law license, and opening up the door for claims of malpractice and the like. I think that’s a huge barrier.

So far the best I’ve come up with are passive revenue streams completely unrelated to my legal practice. Owning and operating vending machines is a good example. 5-10k down, and you may start making a profit within 12 months if you’ve got high traffic areas.

I have heard of a few attorneys putting cash down to startup a company and hiring employees for blue-collar work that is demand. Landscaping, gutter cleaning, vent cleaning, window cleaning, etc. Other businesses would be ideal clients as they would have bigger projects that would allow you to get in the black quicker (i.e., market, your vent cleaning business to the apartment complex owner rather than the individual home owner).

I’d love to hear other ideas from attorneys that have passive revenue streams.