Rules for Surviving a Bad Economy

Matthew Homan writes a great blog for lawyers called "the [non]billable hour."  In a recent post he outlined his "Ten Rules for the New Economy."  Basicly his thoughts about how one survives in a bad economy and his advise is good:

1. Become indispensible to your clients
2. Reach out to old and new clients
3. "Serve More"
4. Be proactive
5. Don't lower rates, increase terms for payment
6. Be able to tell your clients you can help them get through this
7. Drop your worst paying clients
8. You may earn less but never deserve less of your clients' trust
9. If clients leave, it's because they need other things more
10. Now is the time to make changes, upgrades, to your practice.

These are all great ideas.  The long and the sort of it is bad economic times present opportunities, if you know where to look for them.  Marginal, ankle biting competition will be swept away.  Invest in yourself and take your practice to the next level.  Take the long view.  Unelss it all goes to Hades in a Handbasket, we will come out of this.  If you've been laking that long view, laying the groundwork, taking your knowledge to the next level, you are in a superior position to take advantage of having less competition as the economy starts getting better.

Here is a link to Matthew Homan's full article:

thenonbillablehour.typepad.com/nonbillable_hour/2008/12/ten-rules-for-t.html

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