SPECIALIZATION IN LEGAL PRACTICE
Those of us who have been in practice for some time are familiar with the concept of the "full-service law firm"âeither a solo who does a bit of everything or a multi-lawyer practice where each lawyer does different things, each with the hope of being able to sell services to every warm body that walks in the door.
These days, attorneys who aim to succeed in a competitive marketplace are moving away from "full service" towards specializationâdoing a few things very well. Why? First, because specialization is the path to excellence, and second because it facilitates the efficient delivery of legal services.
Specialization is a key practice management tool for both new and established practices. It allows the startup practice to position itself for market success with service offerings that are different and better than those of competing firms. For established practices, specialization is an opportunity to optimize market standing and profitability by concentrating on what the firm does best and eliminating services where the firm is not a top-tier provider. For both new and established practices, specialization is an important tool for making delivery of legal services more efficient and more profitable.