Business Plans For Your Personal Injury Law Practice
Identifying Key Areas Of Legal Representation
Better Call Saul: it’s the exception that proves the rule. After decades of sequels and prequels which ultimately undermine their source material, Saul came along and proved that the continuity of a fictional universe can be effectively achieved without sacrificing narrative quality. Part of the reason for the series’ success is its realistic emphasis.
Saul uses real scenarios to construct a fictional narrative. In the series which preceded it chronologically (but which takes place after the events of Saul in terms of the show’s timeline), the character of Saul Goodman isn’t described as a criminal lawyer, but a lawyer who is a criminal. Before his character’s fall from grace, however, he worked in legitimate legal practice.
Basically, a burgeoning legal practice headed by “Saul”, whose real name is “Jimmy McGill”, begins this character on his trek toward the dark side of “the law”. But before he worked as a loophole-exploiting shenanigan master, Jimmy McGill found a niche of law in his local community which had a dearth of representation, and exploited it.
Specifically, his character dealt in elder law, and the series went on to chronicle how certain assisted living facilities and senior centers were exploiting their residents through outrageous pricing on minute items—a $50 toothbrush that retails for $1.00, for example. The centers were trying to wheedle down life savings from residents.
Where Reality Takes The Baton From Fiction
This is a very real issue, and part of the TV series’ success: it focused on real-world problems, then built compelling fictional characters around them. Now: your legal practice is no television show, it is no fictional character; but it does have the opportunity to represent regularly un-represented populations legally.
In terms of personal injury, there are a ubiquity of areas which definitely need legal representation, but continue to go unrepresented due to a lack of education pertaining to individual rights. What makes sense for your practice is determining where there is a limited “supply” of legal assistance, and providing solutions to meet an unrequited “demand”.
Granted, not every practice will find some spate of legal cases like Jimmy McGill did in Saul; they’ll have to find a core area of statistically dependable personal injury cases to center on until greater establishment defines operations. Accordingly, one area where you are always going to have cases pertains to the insurance industry.
Insurance For Injury
As website BattaFulkerson.com points out, “You never think that an auto accident can happen to you, but the reality is quite different. According to the car insurance industry, the average driver files an auto accident & property damage claim every 17.9 years. That adds up to three or four accidents over the course of a lifetime.”
Statistically, there are going to be regular instances of insurance representation issues that require legal assistance. If you can provide that assistance, you can quickly build up a representation which lends itself to being sought by those needing help in your local community.
Once you have an established set of regular legal provision established, your next step will be to branch-out creatively. For example, in Texas, a number of legal firms make profit by serving businesses who cater to sexually-oriented clientele. A less-than-desirable aspect of legal practice, perhaps, but certainly lucrative, and equally legitimate.
While we’re on that subject, you might look into divorce law as well. Divorce rates are up in many countries; you may find fertile ground for a legal practice in this region. You may even find that personal industry and sexually-oriented business play a part in a marital breakup, which leads to the final point of this writing.
Think Beyond The Box
You want to work in legal areas of personal industry that are in some way contiguous one to another. This makes it easier to provide comprehensive legal representation. Think of it like a shoe store who also sells shoelaces, socks, Dr. Scholls gel pads, and aerosol sprays to rebuff foot odors. Such a store turns a greater profit than the purist across the street who only sells dress shoes!
Well, with your legal personal injury practice, you’re likely to find a number of personal injury categories mingling with each other. Consider where the “threads” of representation lead in a statistically viable way, and cater to that which is most likely to yield profit in your region.
