In Turbulent Times, Pay Someone a Compliment

For the past few weeks, I have been trying to come up with relevant career advice for these turbulent times. Admittedly, it is hard to give advice in the middle of a storm. As I write this, no one knows whether Congress will succeed in rescuing the economy. It's therefore very difficult to predict which practice areas will do well in the coming months.

If you are finding that you have time on your hands, there are things you can do. I wrote about this yesterday. But I was also reminded yesterday that in stressful times, look for ways to connect with people and be generous with your praise (a good policy in good times but something that is even more important right now.) I saw this in the weekly newsletter of the Boston Bar Association and my spirits were lifted.

So go pay someone a compliment. If it is sincere, it will make them feel good; and the good news is that it will lift your spirits as well.

Weathering the Financial Storm

It is very unclear how the failure of major financial institutions and the federal bailout of some of these institutions will effect the legal profession. But like most of you, I’ve been doing my best to make sense of all this uncertainty.

On the one hand, law firms are likely to see a large uptick in litigation, particularly in high stakes litigation. Similarly, if the current mood in Congress creates a host of new regulation for the financial services industry, law firms stand to benefit.

On the other hand, during a period of financial turmoil, businesses are more likely to stay on the sidelines rather than pursue acquisitions, even ones that were already in the pipeline. Tightening credit is likely to mean less investment in general and a general slow down in economic activity. This is turn will probably mean fewer deals for lawyers.

So what is an associate to do? My colleague Debbie Acker has stressed the importance of taking care of yourself during times of stress. I won't repeat her words of wisdom. But there are also things that you can do for your career in tumultuous times.

For starters, if you are finding that your work is truly slowing down, don't sit around whining about it. Be positive and proactive. Spend more time on marketing activities. Stay involved in professional organizations, write an article or meet with colleagues. You can also spend more time learning about your clients. Take them to lunch. Invite clients to a sporting event.

Find partners who are busy and ask them how you can be helpful. Pay attention to practice areas that are busy and see if you can pick up some projects in those departments.

A lot of this is easier said than done. Lawyers are professional pessimists. We are paid to help clients identify risk. We are trained to think in worst case scenarios. This kind of thinking can do a lot to help a client manage potential risk. But it can be a source of paralysis for our own careers.

So be aware and take action now. If you do, you will have more control over your destiny as we get through this time of great uncertainty.

Should You Write a Book?

Penelope Trunk, who writes the career blog the Brazen Careerist, argues that book publishing is an outmoded way of distinguishing yourself. Her arguments have some merit. We live in a fast paced digital world where blogging is a much quicker way to get your ideas published. The amount of time that it takes to write a book ensures that you are unlikely to get a meaningful return on your investment (at least in terms of book sales or speaking engagements.)

For professionals, however, I think the calculus is a different. Lawyers are still valued for the knowledge and experience they bring to their clients. Writing a book on a particular area of legal practice is one way to say to the world that you are the expert (i.e. you wrote the book.) If you have written or edited a treatise on the non-compete agreements, for example, then prospective clients are more apt to view you as someone they should hire if they want to enforce a non-compete.

I've often thought of publishing a book on career issues facing the legal community; but for now, I'll stick with blogging and the occasional article in a legal publication. I get the chance to think reflectively about what is going on in the legal profession, I have the satisfaction of seeing myself in print quickly, and I am not distracted from the hard work that it takes to succeed as a recruiter.

Best Firms for Women--Round II

I noted a month ago that Working Women magazine has come out with it's second annual list of best law firms for women. Yale has now come out with it's own third annual list. For my Boston readers, WilmerHale and Mintz Levin have made the cut.

While I think these lists are instructive as to which large firms are most focused on creating better work/life programs (and implementing them as well), don't miss the big picture. By design, large firms are most likely to service the largest clients. Large firms are most likely to have the highest billing rates. Large firms generally pay the highest salaries. Large firms are therefore most likely to have clients who are the most demanding or who have the greatest expectations when it comes to customer service.

So maybe the firms on these lists do try harder than other firms; but large firms are probably not the best place to find work/life balance.

Great Networking Opportunities This Fall

There are 60 days left in what promises to be a very exciting (and probably a very close) presidential race. Unless you live in a state where your candidate is expected to win by a landslide, the Democrats or Republicans need you more than ever.

Working on a political campaign can be a lot of fun; but it is also a good way to increase your network of contacts. And if you are a lawyer who is beginning to think about how you might generate your own clients in the future, this is a great time to jump into the fray.

Don't worry about selling yourself as a lawyer. The point is to get out and meet other professionals, business owners and future leaders who may some day need legal services. Right now, you are simply volunteering your time and energy to do a range of administrative things that will help get out the vote for your candidate.

A political campaign is a very natural way to make strong connections with other individuals. Your starting point is that you are both passionate about the same thing (presumably your candidate--if you are not, then perhaps this is not the best way to spend your free time.) Both campaigns desperately need you to make phone calls, organize events and countless other activities. As a lawyer, you will be valued for your organizational skills. But the time is NOW. If you wait much longer, the game will be over and you will have missed out on one of the most interesting presidential races in your lifetime.