A post today by Lee Rosen over at his Divorce Discourse blog reminded me again of how many times I have heard attorneys who are just starting out want to compete on price instead of making the effort to differentiate themselves and therefore create true value that people will pay more for.
As Lee notes, while Walmart may sell jewelry, it will never be Tiffany. Once you position yourself as the low-price option, you are stuck there. So if you choose to be the low-cost provider, then plan to remain in that position. But don’t start out with low prices and think once you get established, you can attract the higher end client who pays more.
By not discovering – and marketing – your difference, you are just one of a great many lawyers casting a line in a vast ocean. With nothing to differentiate you, what basis is there for those seeking legal services to make a choice? I’ll tell you: none.
There are 4 ways you can differentiate yourself from your competitors:
Service: labor/employment, complex litigation, immigration, healthcare, IP, etc.
Industry: transportation, construction, energy, real estate, medical, etc.
Geography: LA-based, Southern California, Manhattan, etc.
Specialty Market: privately held companies, Fortune 500, physicians, white collar executives, blue collar construction workers, Spanish-speaking, developers, commercial lenders.
Creating your own market niche for your practice is how you stand above the competition and attract more of your ideal client, helping make your practice more lucrative and your life more enjoyable.
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