Business Development Strategy
At present, the supply of qualified lawyers serving commercial clients far exceeds demand. This, along with other major disruptors within the profession, requires lawyers and their firms to be much more strategic and targeted in their positioning and delivery of services and expertise. While clients appreciate lawyers who can serve as trusted advisors, providing insight beyond a particular issue or area of expertise, the era of the generalist is over. Clients want specialists in a service niche and in their industry.
Firms need to better define and promote what they are distinctly good at, and at the same time determine which practice areas no longer enhance their credibility or align with their growth strategy. RainMaking Oasis helps firms, practice groups, industry groups and individual lawyers identify and develop emerging and in-demand areas of niche expertise and execute strategies to increase their market share in those target markets. We help clients:
- Track trends and market research
- Assess competitive threats and opportunities
- Devise new niche practices
- Analyze existing and required skills in niche
- Design plans for positioning and selling/cross-selling niches
We are unusually qualified as we have developed strategies for scores of practice and industry specialties. In addition to what are now more common niches like cybersecurity, data privacy, health care technology, renewable energy and FCPA, examples of narrower areas we have advised on include agribusiness, copyright, nanotechnology, ITAR/export-import, consumer finance regulation and the CFPB and FinTech.