From my perch, 2022 has not been the same as 2021…
While I wouldn’t consider myself to be an economist, my role enables me to obtain a pretty accurate pulse on the industry. That being said, it’s pretty clear that there’s a downturn happening even if we’re just using the financial markets as a reference point.
Strategically, what are your firm’s plans? What is your law firm doing to adjust / take advantage of the recession? I encourage you to stop and think about the answers to these questions:
- Is it business as usual at your firm?
- Are they cutting back on certain things?
- Are they being proactive and using this time to take advantage when others are fearful?
- Are they financially sound?
- Have you seen a difference in deal flow?
- Have you felt a difference in people’s attitudes?
Now’s the time to keep your eyes open and take a pulse of your firm. Some firms are using this time to their advantage to make strategic hires while others are using this time to make extra profit. It’s time to assess your firm and make sure that you are in the right spot.