Practice area trends of 2010 and 2011 have been anything but expected. Contrary to historical ebbs and flows, such as litigation spikes in downturns, today’s legal market is bucking the trend. In everything from corporate work to bet-the-company litigation, periods of growth and decline are sporadic, short-lived and, at times, unanticipated.
Envision the age-old arcade favorite, Whac-A-Mole. You stand poised with an oversized foam Q-tip in one hand, anticipating the brief, surprise appearance of a furry brown head. Upon seeing the little critter you aggressively pounce with all of your might, as if the power of your swing will lead you to victory.
No matter how much strength you bring to bear, however, you may miss the mark. The winning strike demands not heft but a keen eye, disciplined stroke and quick action—much like the attributes of a skilled predator. So too does the 2011 legal market.
Hone your Whac-A-Mole skills to win more business in today’s competitive market by:
- Performing a firm-wide analysis of client feedback with your top clients
- Devising client-specific tools to distinguish your firm (e.g., IP litigation portfolio analysis, checklist of risks to beware of when hiring C-level executives, etc.)
- Using annual in-person client meetings to anticipate changes in client needs
- Ordering BTI’s Premium Practices Forecast 2011 (yes, a blatant plug)