Post #852 – June 24, 2020
Get Your Industry Focus In Sync
Surveying 700 in-house and law firm attorneys across the US and EU, the 2020 Future Ready Lawyer Survey: Performance Drivers provides some compelling information.
When exploring what factors clients use to select their preferred firms, three criteria were tops: Specialization (are you doing something that we cannot just get everywhere else?); Technology (are you using technology to improve your productivity and collaboration?); and Ability to Understand Client Needs (which sounds a lot like the commonly phrased – do you understand our business / industry?)
This article provides some prescriptive guidance on how what label you attach to your industry group actually matters; how you need to be very specific about the sub-industry you are targeting; how there are areas of lucrative opportunity that may defy simple industry categorization; and why industry sector expertise is THE differentiator.
Read the complete article – HERE