In Peaks and Valleys for Expert Witnesses construction site expert witness William Gulya, Jr., President & CEO, Middlesex Trenching Company, writes:
No matter which field of expertise you specialize in, as an expert witness you will experience peaks and valleys in the number of cases you are retained to opine on in a given year.
This may lead you to question your marketing efforts. And that is not, in and of itself, a bad idea. Your marketing plan should be reviewed every six months anyway. But your marketing program may not be the problem — it may be the economy. Yes, even expert witness practices are subject to the effects of a bad economy.
Why, however? Let’s take a look at this question in depth. For most businesses, a bad economy or slow economy translates to lower sales and thus lower profits overall. Experts are not exempt from this common phenomenon.
When the economy slows, certain aspects of litigation do, in fact, increase. A case in point is the payment of debt. Business and individuals can have difficulty paying their debts in a bad or slow economy, sometimes resulting in litigation. As a consequence, some experts in the fields of forensic accounting and economics may actually see an increase in their retaining percentage.
William Gulya, Jr., President & CEO, Middlesex Trenching Company for more than 35 years, specializes in excavation & construction site preparation – earthwork and grading, water mains, sewer installation, trenching, containment, underground utilities, dike repair, heavy equipment rentals. www.siteworkexpert.com