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Published byGwendoline Jefferson Modified over 6 years ago
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Welcome! Time to start getting paid what you deserve.
Earning more doesn’t have to be an insurmountable obstacle
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Today’s questions Where is the hidden value in your law practice?
How can you educate prospects and clients about it?
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Top Challenges for Solos and Small Firms
Attracting new clients Administrative work Rate pressure from clients
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ABA discussion on fees from website
The fee charged by a lawyer should be reasonable from an objective point of view. The fee should be tied to specific services rendered, time invested, the level of expertise provided, and the difficulty of the matter.
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Where is the hidden value at?
Tangible and intangible benefits
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ABA Guidelines for Reasonable fees
The time and work required by the lawyer and any assistants The difficulty of the legal issues presented How much other lawyers in the area charge for similar work The total value of the claim or settlement and the results of the case Whether the lawyer has worked for that client before The lawyer’s experience, reputation, and ability The amount of other work the lawyer had to turn down to take on a particular case.
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You have to get more referrals to increase your revenue & profit
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What’s your value? What does working with you allow your client to do/be/have/know? What does working with you prevent your client from experiencing?
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Mediation Clients Benefits
Neutral 3rd party to add perspective Neutral 3rd party to keep the peace A safe, defined container for discussion A role model for conducting difficult conversations A framework to use in future conflicts Opportunity to voice concerns uninterrupted Meeting scheduling done, document management Convenience of no travel
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Mediation prevents… Staying stuck in endless conflict
Poisoning other relationships (associates, clients) A messy yelling match Decreasing productivity Low morale Loss of reputation End or damage to important relationships Additional stress and uncertainty about outcome
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Understanding your full value and big WHY
Your price reflects both your tangible and intangible contributions to your clients
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Discover hidden income!
Membership and Courses
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Create recurring revenue streams
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How can you educate clients?
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Contract Conversation
Don’t share a ‘naked’ number Walk clients through your Engagement Agreement Explain the value propositions Share how you work and what you use the $ for Outline what happens when the $$ runs dry Ask clients to tell you early if $$ becomes an issue
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The Client Experience 81 % of legal consumers check your website, social media presence before contacting you Evaluate your website branding and copy Assess your social outlets Linkedin Facebook, Local Identify areas for improvement Share recommendations, tools and contacts in an audio recording Reel Review call to discuss results
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The Client Experience $55 (beta)
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