February 09, 2009
Don't compete on price, now or any other time.
In the way-down current global economy, the great corporate clients we always wanted at our mid-sized firm will now come to us for our lower rates. They will never leave us. There will be Sweetness, Light and Good Crops.
--An over-served lawyer we know said this, more or less, on Friday evening.
No. Probably not. Right now, it's tempting--but resist the urge to lure new clients with lower price or rates. Clients who come to you for price will leave you for price. Think about value first, price second. A gem we missed in January by Boston's Jay Shepherd at his The Client Revolution: "Why competing on price is a losing strategy".
Posted by Holden Oliver (Kitzbühel Desk) at February 9, 2009 11:23 PM
I completely agree. When potential clients tell me that "so and so" will do the same thing for $100 an hour less, I tell them that they should hire "so and so" or even better, I can give them names of plenty of lawyers who will do it for $200 or even $250 less....
Posted by: Dan Harris at February 9, 2009 10:14 PM