I recently posted a blog about developing a niche practice, and included one of my favorite quotes:

If you market to everyone, you market to no one.

A lawyer I coached a few years ago asked that I expand on why he should consider an industry based practice. Here are the reasons I shared with him:

Industries.jpg

  • Your business clients repeatedly say they want you to understand their industry and their business
  • Industries have industry publications to read to stay on top of what is going on in the industry
  • You may also have the opportunity to write for the industry publications
  • Industries have associations who meet regularly and discuss what is impacting their business
  • You may also get the opportunity to speak at industry association meetings
  • When you build a relationship with an association executive you have also built a relationship with members of the association
  • When you focus on an industry it is easier to find out who the influencers are
  • Potential clients might google “Their industry (e.g. highway construction) and law
  • You have a better chance to become a “go to” lawyer by narrowing your target market