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Real Lawyers Have Blogs On the topic of the law, firm marketing, social media, & baseball

Blogs grow book of business independent of large firm employer

Larry Bodine’s post that the generation gap hurts law firm marketing is generating a good deal of discussion on the blogosphere.

Larry raises an excellent point that it’s no wonder young lawyers aren’t interested in marketing when 69% of associates do not see themselves staying with their law firm and 55% are not even sure they’ll stay in the practice of law.

I agree if you’re not planning to stay in the profession, you’re not inclined to grow your practice. However, if you don’t see yourself as staying with the firm as a partner, common sense dictates that you better make a name for yourself independent of the firm. That way a professional builds a portable book of business they can take with them when they leave the firm.

LexBlog is seeing a lot of individual lawyers starting blogs for exactly this reason. To enhance their personal reputation as a reliable and trusted authority in their niche as well as build a client base.

In addition, lawyers fear law firm mergers may result in layoffs. Some also fear that the law firm’s management places the interest of the firm above the individual lawyers. Still more reasons to grow that portable book of business.

  • http://www.stillwatercapital.com Richard Rudy, Stillwater Capital

    Many small to medium size law firms are constrained from growing by a lack of capital. That doesn’t have to be the case. At our firm, Stillwater Capital in New York, we have a specialty lending to the legal industry. We have a fund that lends money to small and medium sized law firms and the loans are collateralized by a secured interest in the firms fee income. The fund underwrites the loans by carefully analyzing many of the borrower’s major cases and lends only a
    portion of the prospective income. The program has been highly successful.
    Richard Rudy, Stillwater Capital

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