Wherever there is change, and wherever there is uncertainty, there is opportunity. -Mark Cuban
The market is shifting. You feel it in your current position. You hear it time and time again on the news. A looming recession. Inflation. Layoffs. Chilling business news. Political chaos. International standoffs. And yet, we get a booming jobs report and all is forgotten. The whiplash you feel is real. What can you do to prepare for (potentially) rough seas ahead?
The bottom line is this – no one knows what the legal market is going to look like tomorrow, several months, or a year down the road. The best thing you can do is prepare for a volatile market now.
- Brush off your resume and be ready to make a move. With all change and uncertainty comes opportunity. Be ready for it. If your current firm is struggling, another firm may be booming. Be ready to make a move when the right opportunity is presented to you (or better yet, go seek it out).
- Get as much experience as you can! If you have experience gaps in your resume, work hard to fill them now. If you haven’t taken a deposition, work to get that skill. If you haven’t been client-facing in your practice, work to get in front of clients!
- Start networking. You shouldn’t wait until you need your network to start networking. Use your lunches, coffees and cocktails wisely to stay top-of-mind with your peers.
- Stay calm. This too shall pass. We are coming off one of the biggest boom cycles in the legal market. Any market correction will quickly pass.