The firm's USP

NextStageOfTheApplication

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  • Nov 12, 2020
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    I have been researching firms to apply to. I was wondering how to answer "how does the firm set itself apart from other firms, what is their USP"? Is there a specific way of going about this i.e. following the research, do I have to come to a conclusion of what I think the firm's USP is?
     

    Dheepa

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  • Jan 20, 2019
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    Hi Maria.

    I'd say that for the sake of structure and clarity when answering the question, it is best if you do have in mind a couple of key points that you believe to be the firm's USP and then expand on each one in turn. I don't think any firm will have just one USP or one differentiating factor so you can mention multiple things.

    I would start my research into something like this by focusing predominantly on:

    1. Practice area strengths - Is there anything the firm is particularly well known for?
    2. Industry expertise - What industry does the bulk of its clients operate in?
    3. Global presence - What markets is the firm particularly strong in? Does it have a physical presence in other countries or does it operate using partner/best friend firms? How does this then affect the amount of international work or international clients the firm represents?
    4. Firm history - I find that the thing that firms are most proud of are often rooted very heavily in their history, how they expanded, how they came to occupy their market position today etc. I'd recommend skimming the firm's about us page and taking a look at any annual reports that have been released and seeing if you can find a common point or strategy that is frequently brought up.

    There is also this thread here covering more ways in which you can differentiate firms. Hope that helps!

     

    NextStageOfTheApplication

    Distinguished Member
    M&A Bootcamp
  • Nov 12, 2020
    53
    70
    Hi Maria.

    I'd say that for the sake of structure and clarity when answering the question, it is best if you do have in mind a couple of key points that you believe to be the firm's USP and then expand on each one in turn. I don't think any firm will have just one USP or one differentiating factor so you can mention multiple things.

    I would start my research into something like this by focusing predominantly on:

    1. Practice area strengths - Is there anything the firm is particularly well known for?
    2. Industry expertise - What industry does the bulk of its clients operate in?
    3. Global presence - What markets is the firm particularly strong in? Does it have a physical presence in other countries or does it operate using partner/best friend firms? How does this then affect the amount of international work or international clients the firm represents?
    4. Firm history - I find that the thing that firms are most proud of are often rooted very heavily in their history, how they expanded, how they came to occupy their market position today etc. I'd recommend skimming the firm's about us page and taking a look at any annual reports that have been released and seeing if you can find a common point or strategy that is frequently brought up.

    There is also this thread here covering more ways in which you can differentiate firms. Hope that helps!

    Thank you, that's really helpful :)
     

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