Become the only firm that matters to the clients worth keeping.
By Hitendra Patil
Specialization is the single decision that will do more for an independent firm’s long-term position than anything else. I know that is a strong statement. I also know it is the recommendation that gets the most pushback in the room.
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The pushback usually sounds like one of three things. “We cannot afford to turn away work right now.” Or: “Our market is too small to specialize.” Or the version I hear most often: “We already serve a fairly focused type of client, we just have not put a name on it.” That last one is usually true, and it is also the starting point for everything.
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