It should be obvious that some practice areas will soon be “hotter” than others, if they’re not already. Divorce, bankruptcy, foreclosure, loan workouts, evictions, and other areas are likely to be in high demand.
What can you do with this information?
If you’re starting (or re-starting) a practice, it makes sense to practice in one of these areas. Get ready for the coming wave.
If you have a general practice right now, get prepared to emphasize these those practice areas. Work on your skills, create more content, and explore ways to market your services to clients who need those services.
If you don’t practice in any of these high-demand areas, consider adding them to your repertoire.
Finally, if you don’t practice in any of these areas and you’re not inclined to start, align yourself with lawyers and firms that do.
When the wave hits and your clients and prospects ask you for help with something you don’t handle, you want to be able to refer them to someone.
Helping the client, and scoring points with attorneys to whom you’re referring business, can only lead to more business and good will for you.
Of course, this is something you should be doing anyway. It’s a smart way to build your practice.
Start by making a list of practice areas you predict will be in high demand. Then, make a list of attorneys you know who practice in those areas.
After that, begin looking for attorneys you don’t know. Start by asking your current contacts who they know who specialize in those areas.
Contact them, introduce yourself, and tell them you’d like to know more about what they do. As you get to know them, they will get to know what you do.
Which should lead to some referrals for you.
Start now. Get ready for your clients and prospects to ask you for a referral.
Because they will.
You can learn more about how to do this in my Lawyer-to-Lawyer Referrals Course.