Has your firm heard the good news about industry focuses? With almost religious fervor, law firm management teams are embracing this concept (or are finally catching up to the accounting and consulting firms that have leveraged this client-centric approach for decades). Its adoption is viewed—in part—as a way to ward off headwinds facing the entire legal industry—threats of low cost disruptors, boutiques peeling off Big Law business and midsized firms cannibalizing each other. Adapting to a particularly cut-throat marketplace where attraction, retention and rate leverage all rest with the clients requires a makeover in how a firm’s services are presented—along with how they are communicated and evaluated.

Balkanization Busting Benefits

John Smith does estate planning and is in the Estate Planning group.