Okay, the law business has gone from boom to — maybe — bust, depending on your area of practice. You just got laid off, or maybe you think there is a good chance that will be happening soon. What should you do? Here are some thoughts.
At the outset, do not go out and tell other people you need a job. This is a poor plan, as you will essentially be branding yourself as a sad sack who needs help. Even your closest friends will find it difficult to help someone in that situation. So whatever you do, don’t do that. In fact, don’t reach out to anyone until you take the following steps, all designed to make you hot property when you start speaking to people:
First, read these three articles I wrote about four years ago. They outline exactly how to get a job. They have all of my thoughts from four years ago. I tried to give very specific steps, and if you follow them, they will dramatically increase your chances of success:
Second, think of this as an opportunity rather than a problem. You possibly always wanted the chance to redefine your career, but who would quit a steady job for something risky? Well, that concern has been taken away — since your employer effectively made or is making the decision for you — and now the world is open to you. When I got fired from a big firm — close to 30 years ago — I recall initial horror, depression, panic, and misery. But then it was followed by open-mindedness, then introspection, and finally by (yes, truly) exhilaration.
Third, take a look at the industry you are servicing and think what needs there are in that industry and how you could create value. I am sorry to sound like a humbug, and I don’t mean it that way, but I suggest that you read my book, “If You Want To Get Rich, Build A Power Niche,” as that is what you should be doing (i.e., creating a Power Niche for yourself).
Note that until this time, you haven’t reached out to anyone. You are setting up your game plan so that you are in a good and strong position when you start talking to people — unlike the sad sack mentioned in my second paragraph above.
Fourth, once you have created a Power Niche, now it is time to start reaching out to people. Instead of “needing a job,” you have something to offer; namely, power in your Power Niche. This will only be of interest to a small subset of potential employers, but if you do it right it will be of dramatic interest to those few employers and, after all, you only need one job.
As an aside, be mindful that you don’t FIND a Power Niche, you CREATE one.
Fifth, network and network and network, but as you do it, keep mentioning your Power Niche to everyone. If your Power Niche is a good one, the message will resonate, and you will start to see all sorts of things happen. Of course, if your Power Niche is a dud, it may still work but not nearly as well.
Lastly, you can — and should — start creating a Power Niche for your career even if you are gainfully employed and think a layoff is very unlikely. A Power Niche can juice your career dramatically.
Oh, yes, if you are a real estate lawyer, maybe give me a shout. We are hiring!!!!
Good luck.
Bruce Stachenfeld is the chairman of Duval & Stachenfeld LLP, an approximately 50-lawyer law firm based in midtown Manhattan. The firm is known as “The Pure Play in Real Estate Law” because all of its practice areas are focused around real estate. With almost 50 full-time real estate lawyers, the firm is one of the largest real estate law practices in New York City. You can contact Bruce by email at bstachenfeld@dsllp.com. Bruce also writes The Real Estate Philosopher™, which contains applications of Bruce’s eclectic, insightful, and outside-the-box thinking to the real estate world. If you would like to read previous articles or subscribe, please click here.
