Practice Management

Pictured is lawyer Stephen A. Kennedy holding a "base plug" the intent of which is to fill the holdes left behind when bases are removed from baseball diamonds.  Not only would I have never thought of such a thing, but Anchor Sports I, Inc. out of Richardson, Texas makes $600,000 selling these little jobbers.  And, it has only been selling these things since 2001.  Not bad for a little device that seems so unsubstantial.

According to the Dallas Business Journal, when Anchor Sports suspected another company was paying to have knockoffs made in China it rushed to the federal court in Tyler, Texas to defend its patent.

As Stephen Kennedy told the Dallas Business Journal, intellectual property law is work intensive, which requires a number of attorneys and a lot of billable hours on each case.  To which he stated, "It's a niche area you can't dabble in.  It's not that it requires more brain cells, It's an area with a lot more complicated issues ... "

And, such is the truth about most niche practices that attorneys do not wish to recognize.  Oh, certainly some niche practice areas like intellectual property might be more profitable than some, but I think new lawyers, especially, misunderstand both the intensity of a niche practice, as well as the ultimate freedom it can provide.

It is intensive.  Because it is a specialty of sorts you have the obligation to learn all of the ancillary law and keep up with all of the opinions and decisions that affect your practice niche practice area.  But, this is time consuming.  If you want to be an expert at any practice area (as opposed to not knowing any practice area well enough), it takes a lot of time and energy.  It is because of the time and energy it takes to both learn, keep up and promote your niche, you do not have time (especially as a solo) to spin your wheels dabbling in other areas.

The very idea of a niche practice means you need to commit.  Some people, and some lawyers, have a problem with commitment.   They want to play the field, which may be great except for the eventual feeling of low job satisfaction and in earning money.

A niche practice represents freedom, because as you become more knowledgeable, as you have track the difficult issues concerning your niche, as you have gotten the feel of the land that you care to dominate, you feel liberated in knowing that you actually know something.  You become better at eyeballing and evaluating cases quickly and accurately, you become quicker at research and drafting, you become better at client interviews and negotiations, and in the process you become actually known for something, you can process more cases yourself, and you have more free time to do what you want without worry.  I am telling you that is nirvana in the practice of law.

My niche practice covers 6 to 10 pages of the Bankruptcy Code, depending on what published at which you version look.  But,I know those 6 to 10 pages probably as well or better than anybody else in this country.  That allows me a certain degree of peace and comfort in my life.  It should want to make you find that peace and comfort in your life.

As Zig Zigler likes to say, you will not get anywhere in life as a wandering generality.  You have got to be a meaningful specific.  I am here to tell you that being a meaningful specific in the practice of law is the finding and development of a niche.

So keep your eye out for the base plug equivalent in the practice of law.  Or, you can look to represent clients in niche areas like intellectual property.  Either way, you can look for your place in the practice of law all you want, and for as long as you want, but you are not going to get anywhere until you commit.  Little legal victories aside, the general practice of law does not often work either to bring you lots of money or peace of mind.