Survival Tips for Ninety-Percenters

Posted by Alicia Dearn, Wednesday, February 10, 2010

In the mainstream media and blawgosphere, much has been made about the recession's toll on BigLaw. On any given day, I receive ten new articles and hundreds of tweets about layoffs and doomed compensation modelsÉ.

I have personal feelings about this, being an ex-BigLaw lawyer with a real shot at partnership. But I don't like to engaged in idle gossip. Rather, I loosely follow the information because I do think that there are real changes afoot in the legal profession. But, here's my view: they are all GOOD changes. BigLaw is going to survive, but they already have less than 10% of private practice attorneys and are going to stay that way. They are a niche and serve a different market than the rest of us. (This is no different than how big corporations actually make up a similarly small portion of business in America. And, in fact, we ourselves, are small business who service the Main Street small businesses in this country, and it is a good market to be in.) The important thing is that we are all aware of the business climate and that we plan accordingly. Here are 5 tips for good business planning for the Ninety-Percenter lawyer.

1. If you haven't done so already, develop a business plan. I know, I know, the concept of calling your practice a "business" is nauseating to some attorneys. But guess what, Esquire? You are a business, and it's time to start thinking like a business person! Writing a business plan is far less painful than it sounds. You don't need an MBA from Harvard, and you certainly don't need to pay an arm and a leg for DIY software. There are free online templates, like the one at The Small Business Association's website, which should serve you just fine. Remember, you aren't looking to design a slick, marketable document. The real value lies in the exercise of analyzing current systems, thinking about the future, setting concrete goals, and committing it all to paper. And of course, making a sincere effort to stick to the plan after it's completed.

2. Develop a social media marketing strategy. I've written about the value of social media sites before. (link to social media blog & twitter blog) In a nutshell, they're free, they're valuable, and they're the future of marketing. If you're a Ninety-Percenter, every day is a marketing grind. You can't afford not to be on a social media site.
So, let's say you've taken the smart step of putting yourself on all these social networks. How do you find time to manage your profiles and network? (You'd be amazed at how time-consuming this is.) This is where strategy development comes into play. The goal is to streamline your media campaign, so you can spend more time lawyering. Aggregate all your social networks to receive a feed from one source by using tools like Quub. And check out SmartBlog on Social Media, a very helpful blog/ newsletter that will give you tips on the most effective social media marketing techniques.

3. Focus your marketing. I never liked the expression, "Beggars can't be choosers." Why not be choosy, no matter who you are? And, actually, there are really good business reasons for your practice to be choosy [link to blog on this topic]. Experienced marketing consultants and copywriters will tell you to take a few minutes to define and visualize your ideal client. When you write on your site, social media, or marketing materials, speak as though you are talking to that idealized person. When spending time on networking and other marketing activities, do those activities that will allow you to be in the same place where your ideal client will be, and in a place where you can reach out and connect with him or her in a meaningful and memorable way.

4. Work on providing the best client service possible. It seems so obvious, and of course, this is a helpful tip for any lawyer in any economic climate. But during a recession, you may be tempted to let customer service fall by the wayside as you scramble to develop more work. Many attorneys are too concerned with their bottom lines to step back and realize repeat clients and referrals can be just the buoy to keep them afloat in turbulent times. Remember that it takes roughly fifteen times the resources and effort to bring in a new client versus maintaining a repeat client. So, go out of your way to let your clients know you appreciate their business.

5. Drop the billable hour.

Bonus: A close sixth on this list would be to create a free attorney profile GoodSharks.com. A shameless plug, no doubt, but sage advice all the same!