This article highlights differences and similarities between lawyers and entrepreneurs in the way that they think. Entrepreneurs are risk takers, while lawyers tend to try and minimize risk or avoid it. Understanding the differences can help to be a better corporate or business lawyer and a better entrepreneur.
Excerpt:Â
“Lawyers have launched numerous startups—some law-related, some not. But does legal training benefit or, as some have argued, hinder a future entrepreneur? In search of an answer, I interviewed three law school graduates who founded businesses and was surprised by what the members of this admittedly small sample size have in common. Their opinions on the benefits of their legal training differed. But they all shared the experience of being raised by business owners, and believe it shaped their approach to entrepreneurship.”
I can see both sides of the coin here, as lawyers are typically risk averse while also possessing a lot of the necessary knowledge or skills that would be a major benefit to a business start-up. I think, as with many of us, the characteristics of the individual might play a lot more in these cases than the fact that they have some legal training.