I believe that the age of the micro-specialist has arrived. As clients increasingly turn to the internet (and social media) in search of professionals, the focus will be on finding the person or group with the exact right skillset to solve a specific problem. Geographic proximity will be an afterthought.
In response to this trend, attorneys, consultants and other business professionals will inevitably become even more specialized. For example:
- The Past: A Specialization in Trusts & Estates law
- The Future: A Specialization in Trusts & Estates for Multi-Generational Family Businesses
A client with a multi-generational family business would likely be willing to pay more if he knew that a particular attorney’s expertise aligned exactly with his needs. Furthermore, he’d be much more likely to deal with an attorney far away if he was convinced that he was getting specialized expertise that wasn’t available locally.
It’s much easier for attorneys to market their practice once they become highly specialized.
- Specialization allows you to focus your marketing effort on a relatively small group of prospects.
- Specialization makes it easier to develop a reputation as the “go-to” expert in your field. This is nearly impossible if your field is broad and loosely defined.