The Big Idea: Taking a Quantum Leap in the Growth of Your Law Practice
Donny Deutsch's cable program, "The Huge Thought," features interviews with entrepreneurs who scored huge (or are trying to) in the world of business. The guests discuss their "huge thought," the one that makes their company or product uncommon from all the rest.
In the crowded, competitive world of business, a huge thought can force a company from the depths of obscurity to the heights of financial success. But the huge thought isn't necessarily a new invention or a revolutionary concept. More often, it is a new spin on an ancient thought that capitalizes on a current trend (e.g., "quick food" restaurants that give nothing but breakfast cereal).
Allstate Insurance company is running ads that promise to pay cash rebates for every six months of excellent driving. That's nothing more than a new way of offering a excellent driver discount but in my view, it qualifies as a huge thought because as a replacement for of a discount, the customer gets paid. Getting a check from your insurance company every six months re-sells you on staying with that company because you don't want to lose "your" check. (It also reminds you to drive safely.)
Amazon's latest huge thought is low priced tablets. They don't do everything an iPad does but will probably appeal to a huge segment of the market that will pay $200 (or less) but not $500 (or more).
How could you make a huge thought in your practice? It might be as simple as taking something every attorney in your market does (e.g., house calls), and re-positioning it (e.g., "We'll send a limo to pick you up"). It might be something few attorneys do, like the radio spot I just heard by an estate plotting firm that prepares living trusts. Their huge thought: "free lifetime updates".
Take some time to brainstorm thoughts with your employees or mastermind group. What do you do that all else does that you could promote as "your huge thought"? Or, what do you do (or could you do) that unknown else does that could be an even larger huge thought?