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Young Partners Should Embrace an Ownership Mentality

By Sharon Meit Abrahams
August 01, 2023

Firms promote associates to partner and then expect them to "act" like a partner. Acting like a partner is an unclear declaration and can cover a wide range of expectations. One of the most important expectations for these newly minted partners is for them to have an ownership mindset. The mindset of a business owner is not something that comes naturally, nor is it in any way developed through the associate years.

The number one reason for this lack of ownership mentality is that "most lawyers aren't raised to think of the practice of law as a business," says Elaine Fitch of Kalijarvi, Chuzi, Newman & Fitch. "They become lawyers because they want to be lawyers, not business owners."

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