The median real income of lawyers fell 1.9% since 2001 according to Reuters.
Over the same period, the real income of all US workers rose nearly 4%.
The solution is not doing more of the same.
Marketers tell you to increase your digital footprint to attract more clients. I say something a bit different.
Legal incomes are falling (in real, inflation-adjusted terms) because there are more lawyers chasing after increasingly commoditized legal services.
The solution isn't spending heavily to get more price-sensitive clients who don't value your work.
The solution is attracting better clients. Ones who recognize the value to bring and look to you for guidance and advice.
Quality, not quantity.
To thrive you must be clear about how you improve your client's business.
Every day I work with lawyers, CPAs, consultants, and coaches who see the current market as a Golden Age for their services.
Nothing I do matters unless it improves your business
