This post wraps up my mid-year check in as to the state of the legal profession in 2017. This short series touched on a few topics which weren’t included in the series I wrote, earlier this year, on why there will be fewer law firms in the near future. The bottom line is that the legal profession is being disrupted in a big way. While many blogs and websites talk about things which impact the actual practice of law, such as innovations which are noticed inside a law office, most are ignoring the fact that the demand for legal services is rapidly declining. At the end of the day quite a few attorneys are going to wind up looking like this:
While those who choose to “get it” will wind up looking like this:
Personally, I would rather look like the latter chap.
I looked at a number of topics over my last few articles. These
rants discussions looked at:
- Whether the ABA is hurting the legal profession by accrediting new law schools
- How recent State Bar actions hurt individual attorneys
- Why demand for legal services is declining
One point I cannot stress enough is that most attorneys either a) don’t understand how quickly things are changing for legal professionals or b) simply don’t want to believe what is happening. The funny thing is that statistics and numbers don’t lie. Those numbers and statistics show that it is going to become increasingly difficult to run a law firm. Those attorneys who choose to acknowledge such change, and adjust accordingly, will do incredibly well. Those who don’t…..won’t. We’re quickly heading into a time where a very small percentage of law firms are going to be sucking an overwhelming percentage of law firm profits. It’s important to start running your firm like a business and stop making many of the mistakes typically made in law offices.
What changes are you seeing in terms of demand for legal services? Please chime in through the comment form below.