This just in: Divorce in U.S. Plunges to 35-Year Low. If you’re a divorce lawyer, what do you do?
Whatever you do, don’t panic. Put down your coloring book, let go of your blankie, and come out of your safe space. Everything is going to be okay.
First, markets ebb and flow. This year might be bad, next year the trend could turn.
Second, no matter what’s going on in the overall divorce “marketplace,” unless and until divorce is outlawed, there will always be enough business available to keep you busy. In fact, there should be enough business available to make you rich.
The same goes for other practice areas.
So don’t worry about “the market”. Just worry about yourself.
It’s like the old joke about you and a friend getting lost in the woods and a bear starts chasing you. You don’t have to outrun the bear, you just need to outrun your friend.
But don’t ignore what’s going on in the market or get complacent. In order to run faster than the other lawyers and stay ahead of the bears, you must continually work to
- Improve your core lawyering skills
- Improve your other skills, e.g., writing, speaking, networking, sales, etc.
- Attract better clients (e.g., more affluent, more “at risk,” better connected, etc.)
- Run a profitable practice (e.g., manage overhead, hire good employees, improve operations)
- Look for new target markets
- Expand and improve your marketing
Do these things no matter what’s going on in the marketplace and you’ll be golden.
Oh, one more thing. Don’t believe everything you read in the news.
Make sure your marketing plan is up to date