I’ll start by looking at law firm differentiation today and will discuss other service sectors in the future.
More than two-thirds of businesses nowadays are in the services sector. Their founders have a specific area of expertise. So, when they set up in business it’s to deliver knowledge-based skills.
This is the upshot of the trend for the corporate sector to retain smaller teams of permanent staff and to use contractors with specialist skills to increase resources to deliver specific ad hoc projects. Consequently, there has been an explosion in the number of self-employed people in the market.
The common issue these new businesses face when it comes to the need to stand out among competitors is how to operate in an environment that is likely to be quite competitive.
For example, small intellectual property law firms were rare...