Cheers to the practice of Elder Law! Cheers to the brave and caring souls who help all those in need of exactly that. There is good reason to “toast” our industry. There is also precedence for such optimism. Living in Denver I am surrounded by the splendor of the Rockies, the many forms of outside activities, a great city with even better people and… beer. Before you scoff, the craft beer industry holds striking similarities and parallels to elder law and its opportunities.
Think about the pioneers of both industries and their barriers to entry. It wasn’t easy looking at Anheuser Busch or Miller or Coors and saying “I can do that and do it better.” From garages, sheds and basements all across the country, individuals set out to provide a superior product to a specific market and do it on their own terms. Families mortgaged everything for startup money, worked endless days and poured their passions into their work. Sound familiar?
They did it through our country’s biggest and longest economic hardship and they prospered. They grew having a limited (but growing) market and serving them with specific and superior products. Sound familiar? They are thriving by selling a more expensive version of an existing product in a market where people do not have the expendable income they used to and are pinching every nickel. I know that sounds familiar.
There are new entries into the market – in Denver it seems daily. Is there no worry about saturation? No worry about diminishing returns? If this small, three day old, family brewery I visited last weekend is any indication – No. Not to mention the overwhelming market research that shows their market growing faster than their production. This should be deafeningly familiar. Elder Law’s “market” grows like no other in the country and un-like craft brewing this “market” NEEDS what you do. It isn’t a pleasant diversion – what you do is a valuable necessity.
The next time you have a choice – ask to see the tap list. Enjoy a product that was built with as much passion as what you put into your offerings. Salute a fellow entrepreneur who started with little, put it all on the line and was confident enough to charge more for better. Eventually – they will do the same for you.