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LawBiz® TIPS – Week of October 1, 2013

LawBiz(r) newsletter

The weather has been absolutely spectacular - usually is in the first few days of Fall, after a hot summer and before a cold winter. Isn't that the way it's supposed to be? Though seldom is the weather exactly as we want it to be. I was walking my dog and reveling in the glory of the weather and the free spirit of my environment in the Canals of Venice (CA). I hope that you are experiencing the same joy. Real wealth is discretionary time. Take the time to enjoy what is around you. Soon enough, we'll be dealing with winter. As Mark Twain said, "... everyone talks about the weather, yet no one does anything about it."

Life After Law Coaching Program starts October 1st. Join us today!

If you are near my travels, please join me for breakfast. Send me an email:

Chicago - Thursday, October 3
New York City - Monday, October 7
San Jose, CA - Saturday, October 12
Buellton, CA - Friday, October 18

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A Statistical Snapshot of the Legal Profession

Lawyers seem endlessly fascinated with themselves and with each other - whether through the many peer evaluations for professional honors, countless blogs and social networking posts, print and broadcast advertising, or the many more ways of expressing uniqueness. As for the profession as a whole, our image of ourselves as expressed in hard data seems to be more elusive. However, one can draw fascinating conclusions from a "Lawyer Demographics" summary posted on the website of the American Bar association. It includes the demographic picture of the legal profession from the comprehensive American Bar Foundation 2012 Lawyer Statistical Report. The lag in compiling data means the numbers are not up-to-the-minute, but as reported by the ABA, the trends are significant.[1]

1) We are an aging profession. The median age of all lawyers in this country has risen from 39 in 1980 to 49 in 2005. In 1980, 15% of all lawyers were under the age of 29; in 2005 that had shrunk to 4%. Conversely, in 1980 12% of all lawyers were in the 55 to 64 age range; by 2005 that age bracket encompassed fully 21% of the profession.

2) We are gradually becoming more diverse. According to the American Bar Foundation, in 1980 males made up 92% of the profession, compared to 8% for females. By 2005 the lawyer population had shifted to 70% male and 30% female - and ABA figures show that for the past three academic years, females were 47% of total law school enrollment. Census and enrollment figures show less progress on minority representation, which has been holding at about 12% of the total lawyer population and 24% of law school admissions.

3) We are becoming a two-tier profession, split between solo firms and large ones. There are 1.245 million licensed lawyers in this country, and 47,560 law firms. In the 25 years since 1980, the number of lawyers in solo practice remained consistent at 49%. Yet during the same period of time the percentage of all lawyers working at firms with 100-plus practitioners has risen from a statistically negligible number to 16%.

These numbers confirm trends that many of us have found to be anecdotally true. The legal profession does not yet mirror society as a whole, but it is gradually moving in that direction. Longer term demographic trends are being impacted by the Great Recession, by the dramatic recent decline in law school enrollment, by technology and by the increasingly more complex demands of clients. The only thing that can be said for sure is that the profession's demographics will continue to change, and that every firm of every size will be impacted.

[1] ABA Lawyer Demographics 2012

8 Steps to Greater Profitability

The Lawyer's Guide to Profitability

8 Steps to Greater Profitability

Audio excerpt available!

until Nov 1
(reg. $199)

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Success is only 8 steps away ... 8 Steps to Greater Profitability: The Lawyer's Path to Prosperity is an 8-CD set that provides the most complete audio guide to law practice management available.

From crafting a business plan to selling your practice for maximum value, Ed will lead you from start to finish through the eight most crucial steps to law firm success. Earn the living you deserve and find fulfillment throughout your career - embark on the path to success today! Learn more.

In this issue:

A Statistical Snapshot of the Legal Profession

8 Steps to Greater Profitability - 50% OFF!

Video: Think Before Jumping Ship

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What Clients Are Saying:

"Ed's command of the podium and his connection and interaction with the audience were outstanding. His skills enabled us to successfully implement a new culture into the organization without damaging our relationships with outside counsel."

Torrance, CA

"When I had my own private practice as a solo practitioner, I wanted to run my office as efficiently and profitably as possible. I researched business coaches and discovered that most had "passive" models as their basis for coaching, i.e. they would promise all the things they would do for my practice without my having to invest time and energy into the process. I'm so glad I chose Ed Poll instead, for he had an "active" model, i.e. how much I got out of the coaching was directly dependent upon what I put into it. Over a period of six months, Ed conferenced with me and gave me weekly assignments for structuring my practice as well as giving me tips on how to work with clients from the initial interview through to the end of the case. After working with Ed, I didn't have a single outstanding account receivable over $500. The time I spent working with Ed was invaluable and I would recommend him to any attorneys interested in improving the quality and profitability of their practices."

Los Angeles, CA

Ed Poll, LawBiz® Management   |   |   |
©2013 LawBiz® Management. All rights reserved.

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