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This is a time of year when most people are preoccupied with New Year’s activities. Typically, readership of this website dips as many people are focused on other things.
Since it is just you and I paying attention, this is the perfect time for me to make some bold predictions for the next twelve months.
Here goes:
Prediction 1: Small and mid-size law firms will steal a record number of clients using value-based billing
On 2011 the most successful attorneys I know have literally stolen work from big firms because of the way they price their services.
Most clients view hourly billing as an immoral, unethical and inconvenient – if not a disgusting practice. If you offer a reasonable alternative to hourly billing, you will reap the rewards.
Prediction 2: Major search engines will change their algorithm significantly to force lawyers to abandon search engine optimization.
SEO has always been a black art practiced by college dropouts; nefarious outsourcing companies located a dozen time zones away, and a guy in his underwear at his kitchen table. 2012 will be the year Google finally slaps these folks silly.
Search engines can change their algorithm faster than anyone can adjust. Forget SEO and do some real marketing.
Prediction 3: Attorneys who focus on actual face-to-face networking will out earn attorneys who focus on social media.
This will be a bad year for socially awkward, homebound, agoraphobic lawyers.
Whether or not you realize it, you cannot Twitter and Facebook your way to a million dollar law practice.
Get off your ass and meet with people.
Prediction 4: A record number of recent law school grads will hang their own shingle.
This prediction was, by far, the easiest to make because it is already happening.
Big Law is not hiring. Kids in law school are sweating. There is no alternative. They are hanging their shingle and claiming to be fully minted lawyers. Scary but true.
Get ready for a low priced, newly licensed attorney to move in next door.
Prediction 5: Resentment, anger and frustration among Big Law Partners grows to an unprecedented level as they see the quality of life enjoyed by their solo counterparts.
Experienced attorneys (called Partner regardless of their equity stake in big law firms) will be overworked in 2012. This will occur because big law firms are not hiring inexperienced associates and because many “partners” do not know how to attract their own clients.
This overwork combined with the insatiable need to bill more hours will frustrate those “partners” who do not succumb to illness. This frustration will lead to great resentment for the solo practitioner who attracts clients on demand, offers alternative billing and sets his own hours.
Now you may not agree with any of these but it should be fun to see which of them actually come true.