Large Law Firm Growth Areas Represent Blog Opportunities

The Wall Street Journal’s Sara Randazzo reports that large firms are prospering despite the Covid-19 economy.

”Many large law firms have excelled financially this year, even as some clients in sectors ranging from hospitality to retail have suffered. The most elite firms say they are on track for a record year, thanks to hot practice areas like restructuring and public-offerings work, and many are doling out extra money to lawyers this fall.

Firm leaders and consultants attribute the stability to lawyers’ ability to easily work from home, business that comes from a range of industries and practice areas, and a major reduction in travel expenses.”

At the onset of the pandemic, the legal industry braced for the worst, but come summer, law firms found their lawyers were still busy and many busier than the year before.

Though certain practice areas took a hit, they have been off­set by boom­ing re­struc­tur­ing prac­tices, cap­i­tal-mar­kets work and lit­i­ga­tion, per Randazzo.

It’s these practices, unnamed growing practice areas, and niches in such practice areas which represent blog opportunities for law firms and law firms.

Pandemic related items in growing practice areas represent even greater blogging opportunities. Sharing what you are reading and learning is of value to both clients and prospective clients.

The pandemic turned our business development world upside down. Networking through the Internet, via blogs and other social media, are among the leading ways to develop a reputation and relationships.

No question there have been law firm layoffs, but Randazzo shares they may not all be pandemic related.

“Some in­dus­try ob­servers see the lay­offs as pru­dent busi­ness de­ci­sions that stick out less dur­ing a pan-demic. “I think a lot of firms are us­ing 2020 as cover to do things they wanted to do any­way,” said Janet Stan­ton, a New York-based le­gal con­sul­tant.”

Bottom line though, what has been a very tough world for us all, health-wise, business-wise and social-wise, may strangely provide business development opportunities, through blogging, for law firms and lawyers.