by Karen Kahn

When I ask clients to describe their business development efforts I most often hear the word, “scattered.” If this defines you, you likely feel inefficient, ineffective and frustrated when even thinking about developing business. I did too, and then I read Good to Great, by Jim Collins. My life changed that afternoon (I couldn’t put the book down!). For those of you who haven’t read this book stop reading this blog and get the book right now. Collins compared similar companies, some unremarkable in terms of their achievements (who he calls “good”) and others that had attained extraordinary business results (“great”). He sought to discover key distinguishers of success. Here is the concept that was a life changer for the way I thought about developing business:

The good-to-great companies are more like hedgehogs—simple, dowdy creatures that know “one big thing” and stick to it. The comparison companies are more like foxes—crafty, cunning creatures that know many things yet lack consistency.

I realized that while I could coach “anyone” from any industry, just as you can likely deliver legal services to any business in need, success required that I focus on, learn about and connect with only one group.

If you want to accumulate a substantial book of business, you, too, must become a hedgehog and pursue business from one particular industry. (Please note there are a few practice areas such as appellate, white collar, bankruptcy that don’t fit this notion.) For those of you who have enjoyed practicing with a wide variety of people and industries this guidance will propel you toward a difficult, yet critical, fork in your professional road. The following questions will facilitate the selection of a strategic path:

1. What industry have you worked with the most? If there is not a dominant one, that’s alright, move to the next question.
2. What industry will have a significant need for your area of expertise in the next 3 to 5 years?
3. What industry is interesting to you, has 200-300 companies to whom you could potentially offer services, and has the size needed to pay your rates?
4. What industry or component of an industry (such as vendors to the industry, manufacturers to the industry, etc.) is contained within your firm’s strategic business objectives yet receives relatively little attention from others at your firm?
5. In what industry do you possess (or would you be willing to develop) enough background to speak knowledgeably to constituents about what they do, how they do it, their business challenges and their future business directions?

Look for similarities in your responses to discover a few potential industries that warrant further research, consideration and exploration.

While anxiety that there may not be enough work if you focus is common, relief from the pressures of having to attend to and learn about many different businesses will soon follow. Industry focus guides you about what to learn and what conferences to select to initiate and grow beneficial connections. The result is that relationships will grow through repetitive meetings and your expertise about business’s (and individual’s) challenges and opportunities will multiply.

Moving from scattered to strategic business development conceptualization and action establishes you as a legal expert AND industry expert, intensifies relationships within a specific business community and concentrates your rainmaking efforts. Your business development impact strengthens and movement toward success accelerates.