The legal profession, like others, is undergoing a major churn, making it imperative for a lawyer to constantly adapt and reinvent their legal practice. This will allow them to build their business in a better and more fulfilling way.
The art and business of law practice is being challenged by different forces. This is one of the reasons why a complete rethink and change in approach may be necessary.
To reinvent yourself, you have to start with a ‘why’. Why do you want to reinvent? Is it to serve in a different legal capacity?
Starting with the why in mind will help you know how to go about with the reinvention.
Following the tips below will help you in building a thriving legal practice in keeping with the changing times.
Determine the Market NeedBefore reinventing your practice, determine the market you will serve. Is there enough demand or is demand projected to grow in the market?
For example, over the last year, more states have legalized the use of marijuana. As a result, the demand for lawyers specialized in marijuana law is bound to grow as legalization is enacted in more states.
Carve Your ExpertiseCheck whether your former area of expertise complements the new area you would like to pursue. For example, if you have handled real estate cases in the past, you may want to branch out into real estate litigation. Depending on the area you would like to get into, this may mean short or long additional learning.
Read the LawIf the area you are branching to relates to discrete law, read the legislation. Read and digest the underlying legislative history. Any regulations derived from the law should also be understood. If the area you are branching out to is relatively new, it will be easier to manage the universe of material available.
Keep UpdatedBe up to date with legal matters related to the practice area. Recent rulings, court challenges, and other matters can affect your practice. Use the internet and local resources to stay in the know.
You should only reinvent yourself if you feel you will enjoy the new line of work and make an impact with your skills. If your main reason for reinvention is motivated by money, it will hurt when you don’t end up making the money.