SUCCESS OF Boutique Law Firm
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Jan 21, 2013 10:57AM
Successful boutiques evolve over time. Flourishing boutique firms were formed by lawyers with a history of practicing in a certain area. Most of these lawyers earned significant reputations.
The first step in forming a boutique is to acquire a reputation for competence and professionalism within that specific area. It helps build a client base. No boutique, however exclusive or fancy the credentials of the lawyers, will survive without clientele.
Success is built one case at a time, one client at a time, and one day at a time. Repeated competence becomes a reputation. Consistent competency and a wide reputation result in a steadfast and reliable clientele.
From : The Compleat Lawyer
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The days of full-service firms getting by with a "we do it all" message are over. "You can't honestly say you are the best at everything," Zimmerman explains, noting that his firm is built on core strengths in the corporate, finance, public and private equity, and high stakes litigation areas of practice.
Reed Smith, perhaps the fastest growing firm in the world, has expanded quickly not by focusing on the services it offers, but by emphasizing its experience in serving specific industries, such as: manufacturing; international trade; health services and life sciences; technology; and finance.
For Quinn Emanuel, the core identity is not centered on being a "trial boutique," but on actually "going to trial." This firm's lawyers are well-trained and well-prepared for doing battle, and it prides itself on getting into court and producing results. This is a big "selling" plus for clients and targets that are tired of some large firm litigators with big resumes and little desire to roll the dice in the courtroom.
Schulte Roth has shown you can develop a national identity from a strong base in one city. It has defined itself as a "money center" firm with a strong record in financial services, structured finance, asset-based lending, real estate syndication, mergers and acquisitions. The point is not that a firm must take a "boutique" approach, but it must define its core strengths, build on them, and advertise its success in those areas.
From The 10 Habits of Highly Successful Law Firms
By http://johnocunningham.wordpress.com/" target="_blank" href="http://johnocunningham.wordpress.com/">John O. Cunningham
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