Law firms somewhat work like the businesses in this shopping mall story. Yours truly uses somewhat to stress that selling products and selling services are two very different animals but you get the picture.
The law firm may be a Full Services (Terrible) firm or Boutique ( what?)firm. From the shopping mall story, the full service law firm which does EVERYTHING can be likened to the grocery store that has everything and the boutique law firm can be likened loosely to the store that sells only time pieces.
The question is simple: is it reasonable for a law firm to be full service? Methinks Not but it is the industry norm and how law firms are organized. They have never seen a dollar of business they did not want. Global law firms run this model/, sometimes very well and it performs wonders.
The dillema is this: to focus means letting business go and finding a way to bring out the value this focus model has brought to other industries as even boutiques are having quite a tricky time running the business model effectively.
Imagine opening a bottle of Coca-Cola and putting it to your lips and as you drink it you swallow a large portion of Starbucks coffee! That is what some boutiques are forced to offer to stay afloat and the market punishes them for this deception for economic survival.
The dislike of focus is partly a result of the times we live in where resources are spread to no purpose, single minded obsession is discouraged at every turn plus there is the reality of focusing for years and still not becoming 'great'.
Focus works because it provides room to find new services and products by the law firm, it forces the firm to dump areas where it cannot operate profitably and as other industries have shown unless you do so there will always be a limit to your global aspirations.
No comments:
Post a Comment