Finding Opportunity in Hard Times

I used to work for a 280 lb, 5'4" class action abestos attorney by the name of Leonard Jacques.  Leonard was largely regarded to be the biggest SOB lawyer who ever lived.  He was probably a little mentally imbalanced as well, which contributed to his reputation as one of the most difficult, mean-spirited and controversial lawyers who ever practiced.  But Leonard also had his genius.  One of the things he used to always say during the years of tort reform was that there was never a period in time where there was more opportunity for plaintiffs' lawyers.  While many lawyers on the plaintiff side pissed and moaned, Leonard kept his eye on the ball and always managed to find new ways to drive new clients and suck more value out of cases. 

I think about Leonard a lot these days.  He died shortly after I left his law firm to move into my car and drift around the country.  I know that he would get a good chuckle out of what's happening in the legal market and broader market today.  He would not only see opportunity everywhere, he would seize it.

Thus far, our boutique intellectual property and complex litigation law firm continues to do well.  We believe that the turbulence in the legal market will upset many of the relationships between clients and their law firms.  This will throw those legal relationships up in the air and create opportunity for new relationships to be born.  We intend on taking advantage of the fact that companies are going to be rethinking all of their service providers for a lot of reasons.  Our law firm intends on being visible and available to provide legal services in ways that are different from our predecessors on payment terms which constantly discuss, measure, and analyze value. 

I am wondering whether your firm, or the firms you run up against each day, have changed anything about the way you do business in order to become more competitive.  Please comment below if you see opportunity in this market and what you are doing to seize it.