Should a professional services firm try to offer a range of different types of services and accept all types of clients, concentrating on the financial aspect alone? The answer, most of the time, is no. Focus helps to identify the right target clientele based on your skill sets, in order to create a coherent service offering that helps to reinforce the firm’s positioning.
One of the existential dilemmas of any professional services firm is whether to accept all types of clientele and perform every type of assignment, or to define a positioning strategy and have a client mix consistent with that positioning.
Under normal conditions, a firm’s client base is closely related to the skills available within the company which, in turn, may evolve as a result of the needs, requests and requirements expressed by those same clients. This is a constantly evolving process and, as a result of it, the makeup of the client portfolio may also change over time – and this is as it should be.