This post wraps up my series on the current and future state of the legal profession. My goal over the last several posts has been to help attorneys understand the market they are competing in and, hopefully, get a few people to make some changes which will foster success. It’s no secret that attorneys are struggling. The big thing, however, is that the situation for legal professionals is likely to get worse. If you’re not careful you might wind up out in the rain like this guy:
Taking the right steps, however, can help ensure that your rain storm looks a little more like this:
I’m assuming you’d rather look like the latter. The good news is that you can quite easily – you just need to put in the work.
I’ve covered several topics over the course of this series. Subjects I’ve looked at included:
- The current state of the legal profession and where things go from here
- How lawyers can improve their business management techniques
- How attorneys must market their firms going forward
One thing that’s important to take from this series is the fact that having a law degree does not entitle you to earning a good living, nor is it an easy way to ensure a comfortable lifestyle. The law, like anything else, is governed by supply and demand. Right now there is a surplus of lawyers and the amount of work for those lawyers to do is decreasing. The cold and hard truth is that if there is more labor than work then the workers go hungry. This is no different for the legal profession.
Do you want to ensure your future success? No problem. Understand that you are running business and start focusing on efficiency. Also, ensure that you are providing an excellent customer service experience. Finally, invest in assets you own and control for marketing as opposed to renting ad space from third-parties. Can all attorneys do these things? Yep. Will most attorneys not do these things? Yep. Will those attorneys fail? Yep. Will you be one of them? It’s up to you.
Do you think attorneys will choose to change as their prospects worsen or will many go down with the ship? Please chime in through the comment form below.