Market Data

 

This is an important one… how does one sell a product in a market if there isn’t evidence the market is buying? This can be true for law firms as well. However, it’s not like the 1989 smash movie, “Field of Dreams,” when a young farmer cleared his corn field to make a baseball field because he thought he heard voices and the players just wandered in from the cornfield. Unfortunately, law firms have to be much more strategic in expanding into any given market. Certainly, a firm could, on faith, rent space in an affluent area in the business community and announce their arrival.  And some well-known firms have done just that.  But what’s happens next is critical.

Here are some keys to having a successful launch which also demonstrates the importance of having accurate market data.

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• Understanding the current lateral market

• Creating your own story

• Establishing key cornerstones for future firm development and growth

• Avoiding the pitfalls that can undermine your efforts now and later

If you are curious what market research is telling you about your firm’s growth plans, contact JAG for a confidential discussion and learn how we can assist you in making the right move. teamjag@jaglaw.com.

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