« WAC Special: Raising the Bar--A Second Season Preview | Main | Supreme Court's Massey Coal recusal decision: 5-4 »
June 09, 2009
Don't compete on price--especially now.
This man doesn't "do" discounts to get work. Either should you.
If a client comes to your firm for price, it will leave your firm for price.
Value--not price alone--is the point.
You're in a services profession, so value will be conferred on and experienced differently by different clients in different engagements.
It's all in the work--i.e., first rate legal products mixed with real client service for every client you serve--and the billing. About billing. In the end, it's case by case. It's very hard, and it takes thought. But no matter how your firm bills--hourly, "value", flat or a combination--don't lower the price for your firm's services, especially for new clients or to attract work.
Don't lower rates to get business. Don't change anything. If a new client--especially via an in-house lawyer (but we doubt you'll see this happen)--demands a "discount" these days, it is likely both unsophisticated and a pain in the ass. Refer it to that firm down the street you just never liked.
Posted by JD Hull at June 9, 2009 12:59 AM