Post #838 – March 10, 2020
Clients Value You Having a “DEEP” Industry Focus: So Do You? (Part Two)
While attorneys tout their deep technical or functional expertise, most clients view that as table stakes. They assume you’re an expert in employment law, international tax or complex litigation. And as clients face increasingly complex business challenges that go well beyond any one (traditional practice group) area of the law, they wonder if you really understand the key aspects of their industry. To be fair – they don’t care if you don’t know the intricacies of making their widgets – but they DO want you to know the idiosyncratic aspects of what they are having to deal with.
What they also want to know is – have you done it in their industry? Do you understand the nuances of their industry? Can you hit the ground running or will they have to invest hours to teach you and your team how things are normally done in their world?
In Part Two of our series on the importance of Industry Groups, Michael Rynowecer (BTI Consulting) and I continue to try to help you to assess the strength of your industry practices and to identify those signals where clients know when you are not up to speed on their deeper industry concerns.