Any external factor that might prevent your firm from achieving its goals can be considered competition. This includes other firms offering services similar to yours, but it can also take the form of more indirect challenges, such as:
- • Limited need for legal counsel in an industry or geographic area
- • An economic situation that makes counsel unaffordable
- • Lack of understanding about what services are available or needed
- • General distrust of the legal profession
Your competitive analysis begins with learning as much as possible about other firms similar to yours and determining your strengths and weaknesses relative to them. Then evaluate other factors that might prevent clients from hiring your firm. Your plan should include strategies and tactics for addressing all of your competitive challenges.
Posted by jeff 
