Viewing entries tagged
Pricing

Your first sale should be "clarity" (reading time: 2 mins)

When selling, lawyers get anxious about how to obtain a sufficient understanding of a prospective client’s problem, and share enough of their knowledge to motivate her to hire them, without giving away the store or over-investing in what could turn out to be a dry hole.

Based on how often I’ve been asked this question by lawyers throughout my decades in BD coaching, this seems a pretty universal problem. Here’s how to make lemonade out of those lemons.

Is it a discount? Or the new market price?

Sales trainers have long taught us that “price” actually is code for “value.” Discount requests have always been a signal that your value is perceived as out of line with what you charge. However, when discount requests become the norm, that’s a larger, more ominous signal.

Consulting vs. Contracting

In your law practice, are you more like a contractor or a consultant? Should you care? If you care about pricing power, differentiation, perceived value, and having a seat at the decision table, the answer is a resounding "yes."

The importance of pricing leverage

Don't cling to the past as lower realization reduces your effective price. Associate yourself with emerging problems that drive high-value demand.