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April 09, 2008
Don't compete on price. Don't compete on price.
If clients come to you for price, they will leave you for price. To land and keep good corporate clients, never compete on price--unless, of course, your Executive Committee has decided to re-brand your firm Generic BizLaw Dweebs (GBD). Compete on value. And that means: pitch and work only for lawyer-savvy clients. Do see at Korea Law blog this gem by Seoul-based Brendon Carr: 'I Don’t Care What You Charge; Whatever It Is, It’s 15% Too Much'. At best, the bargain-hunting
corporate client Brendon describes isn't a sophisticated user of legal services, is well aware of that, lacks confidence, and therefore makes rube-like demands for "price reductions". It can't discern differences between one set of corporate lawyers and another set.
"GDB"? You wonder what that culture would be like.
Above: Greater China office of new Price-Discounter prototype firm, GDB. Motto: "You've seen one Hart-Scott-Rodino filing, you've seen them all. Ain't no thang".
Posted by Holden Oliver at April 9, 2008 05:20 PM