The year in review puts a spin on the phrase “20/20 vision.”
Just as with many things, something we once thought meant ‘perfect’ has morphed into something much, much–so very much–different, if not diametrically opposed.
So how do we face 2021? Instead of playing the gambler’s card game of “21,” we take inventory of our strengths/weaknesses, opportunities/threats, and come up with a memorable game plan.
I have a six-year-old business. Our family-law firm has enjoyed remarkable success. For 2021, we look to be buoyed, not held back by current global confusion, political unrest, pandemic politics, and the like.
Here are thoughts for how to “play” 2021–as opposed to the gambler’s “21”–like an expert.
Strategy #1: Education Is Marketing
As a divorce attorney in Utah, in 2021, Coil Law will leverage education as marketing. We seek to inform for promotion. For example, advising regarding how to file for divorce in Utah drives business, while helping those in need. Listing free “edu-products” is a great way to do this. You see free e-books all the time, all over the Internet. In our case, we have a free family-law guide listed on Amazon. Inventory your assets. What do you uniquely know, and how can you share it in a way to help inform, then monetize customers. When you educate, you market.
Strategy #2: Hone the Tech Edge as a Differentiator
Innovation is among law firms’ buzziest priorities–and that is for a semi-staid industry. How big a priority is technology for you? In 2021, we will work smarter, continuously reinventing as a tech-savvy practice. The opportunity is there for all to embrace what may have been 2020’s Covid game changer to a long-term differentiator, with tech as a key. How can you work smarter, reach further and farther, and not just save but make money? Technology holds the keys to a lot of those profit answers.
Strategy #3: Diversification as Not Just Expansion, But Retention
In 2021, we will market new products to both existing as well as new clients. We will do this for two reasons. First, obviously, to grow as a business and serve real clients’ needs. Second, and perhaps much less obvious, to retain our employees. Lawyers, paralegals, and legal-support staff want, daily, to be innovative, intrigued and involved. We want that for them.
Diversification is a win-win-win for clients, employees, and the firm at large. What are the opportunities in your world? What do your former, current, and potential clients need? Include employees in the discussion, to reveal your opportunity sweet spots. Sometimes the greatest ideas come from those who work most closely with the customers. Mine those opportunities to make all happy and continually find silver linings.
Strategy #4: Play the Pink Card
Media coverage aside, law firms continue to be remarkably male dominated. What are the circumstances of your industry? In law, “Significantly under-represented” and “largely absent” is the status of senior women attorneys in Utah. The Lexis-Nexis Law 360 Glass Ceiling Report confirms this on a national basis. In light of this information, do we, a power-packed, chiefly female family-law practice hang our heads low? No, we strike. We find the way to capitalize on the status quo. We intend to continue to be the law firm with Utah’s leading female divorce attorneys—and lead other legal practices, as well. What is your intention?
Strategy #5: Diversify, Diversify, Diversify as well as Diversity, Diversity, Diversity
On the heels of the last idea (yes, pun intended!), we will continue to diversify. In terms of employees, we will seek out best-in-class from a variety of backgrounds. We will also serve various metropolitan areas in our state. We will only go where we have strength. This focus, amid diversity and diversify, is what has made us so strong. This continuing focus is what will make us stronger. What is your focus, through diversity and diversification? Ask, then answer. Or keep asking, until strong answers emerge. As above, include others in the conversation.
Strategy #6: Monetize and Pro Bono-itize, Success’s Yang and Yin
The Chinese philosophy of Yin and Yang holds that contrary forces can actually be complementary forces. We will take 2021 by storm in a Yin-Yang manner. We will monetize assets and make new markets. That is our “Yang”—also known as the active principle of our success.
Our receptive principle of our success, or “Yin?” Our Yin will be our continuing to aggressively provide Utah’s best legal advice to pro bono or “free” client aid. Think about what your Yin and Yang are, for 2021, with newly improved vision, over that of 2020.
Strategy #7: Face 2021 with a Deep Breath and a Healthy Dose of Optimism!
Enough said. Now DO!