Practice Management

Yet, many lawyers do.  They do not believe in their niche, or they are just scared they might not make enough money, or they just get mesmerized by some cash that might be available by agreeing to do something else.  I know it does not help that the economy is not doing so well but, just like starting out, the reasons for niching and not varying too much are the same.  You need to stick to what you do because in the long run it will probably cost you market share.

The problems arising by operating outside your niche are:

You will dilute your message.  For example, if you are the king of real estate closings and you now start promoting that you are a foreclosure expert, you have done yourself a world of hurt.  You have just diffused your message.  That message is what helps people remember you.  It is what drives referrals to your front door.  When you dilute or diffuse your message, it is similar to the TV watching public tuning out your TV spot. 

You do not have that much time on your hands.  There are only so many hours in the day.  You cannot make any more.  If you are spending time in other practice areas, then you are losing time you should be spending shoring up your niche.

You are competing in a broader legal market place.  Do you want to be a big fish in a small pond or a small fish in a big pond.  What kind of impact can you possibly make when you are a newbie in a broad, highly competitive legal market?  Not much. Further, you are inviting others to move into your niche due to your neglect.

The bottom line.  Do not abandon your niche.  Instead, boost the time you spend marketing your niche to overcome the economic drag.