To stay competitive, you really want to know your market.
To determine how well you know the legal area and practice within which you are a successful member, take your market challenge.
Describe succinctly in no more than four words the type of law you practise.
Explain how you developed your practice expertise and built your client base.
Probe the robustness of your practice area, in terms of the number of practitioners with whom you practice; the number of clients you currently service; your profitability; and your firm’s perceived value and support for your practice.
Articulate your market’s relevancy in today’s economy: how long a shelf life does your practice area currently have/will continue to have.
Critically consider your market’s leaders: who are they and where do you stand in relation to these leaders, and why.
To further gauge your market knowledge and effectively leverage this expertise, tune in to After It Rains, video #16, and understand that the proof in how well you know your market is tied to your bottom line.
Let it rain.