Change Your Ways
Change was the basic theme of a speech by ABA executive director Jack Rives in a recent speech, according to Terry Carter in “The ABA Should Embrace Change and Not be ‘Left in the Dust,’ Executive Director Says,” an August 8, 2016, ABA Journal article. Rives discussed how to increase membership in the face of declining numbers.
Rives’s advice is advice that spans all sectors of the legal profession, not just the ABA as an organization. Lawyers need to figure out ways to embrace the change around them and make it work to their advantage in their practice.
Locale Changes
The locale in which you practice might experience change. It might, for example, pull in a wealthier group of residents. You should then choose an office in a wealthier part of town and update the décor, thus appealing to this wealthier niche.
The locale might also lose population. In this case, you might be competing with the same number of lawyers for fewer clients. Thus, you should up your game in how you cater to clients, making sure that you are the lawyer of choice.
Economic Changes
If the economy improves and the housing market booms, you might want to consider changing your practice focus to real estate law.
If the economy changes for the worse, you should change how you market your firm, gearing yourself to a wealthier clientele so that you won’t have to worry about whether your clients will pay for your services. In a down economy, your clients might have trouble paying your fees, so you should change collection practices to be more aggressive.
Technological Changes
When technology improves, you can embrace it to give better services to your clients, thus gaining their loyalty and giving you the ability to gain new clients.
Technological improvements also are usually time-saving occurrences, which means that you will have more time to increase either your business or your free time with family and friends.
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