How will attorneys fare in 2020 and beyond?

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The economy is good. Prosperity is predicted to continue next year. Is that good or bad for attorneys?

A growing economy is certainly a good thing if you handle business start-ups. Maybe not so good if you handle bankruptcy.

What about litigation? Collection? Foreclosures? Evictions? Will there be less work ahead? If fewer people are arguing about money, will there be fewer divorces?

Will there be less work for criminal defense lawyers?

With higher incomes, record growth in the stock market, and an aging population, we should see more work for estate planners, right?

On the other hand, some say we’re due for a recession. What then?

I don’t know what the future holds. What I do know is that it doesn’t matter.

It doesn’t matter which way the economy goes or the outlook for the legal profession or any specific practice area. What matters is how you do.

And you can thrive no matter what the economy is doing.

Work may be down for your practice area but there will always be enough work to keep you busy.

Providing you stay one step ahead of your competition.

You don’t have to be the best in your field, you just need to do a good job of marketing.

But, if you happen to be in a practice area where there is more work than before, you shouldn’t take it for granted. Don’t assume you can ignore marketing.

You may earn more in a thriving economy but not nearly as much as you could if you also put some effort into marketing.

Next year, make marketing your jam and you won’t have to worry about the economy, nor have to depend on it.

Here’s a good place to start.

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