Category Archives: Fee Negotiating

Pricing and Fee Negotiating – Training Product Using VC

I’m a great fan of using technology to drive efficiencies and improve performance and have pioneered the use of video conferencing –  not just to provide information – but to change mindsets and develop skills. My latest product is a … Continue reading

Posted in Fee Negotiating | Tagged , , , , , , , | Leave a comment

Tips on Negotiating a Rise in Fee Rates

Some firms struggle to negotiate increases in fee rates. As Oliver Twist demonstrated, it can be hard to ask for more. But with staff getting annual salary increases and with inflation rates starting to go up, it becomes more important … Continue reading

Posted in Fee Negotiating | Tagged , , , , | Leave a comment

How to Negotiate with Liars and Cheats

According to social scientists we all tell one or two lies, on average, every day. Negotiators are no exception. They may even be more deceptive as they attempt to get the upper hand. So it clearly makes sense for negotiators … Continue reading

Posted in Fee Negotiating, Leadership and Management | Tagged , , , , , , | Leave a comment

Why Lawyers Underestimate Fees – Try This Test

The truth is that most of us are over confident about our ability to predict things. Allow me to show you… For each of the questions below, provide a numerical range that you are 90% sure contains the correct answer. … Continue reading

Posted in Business Development and Selling, Fee Negotiating | Tagged , , | Leave a comment

Improving Practice Group Profitability – The Five Big Questions

Do all the practice groups in your firm make an adequate margin? If not, what is being done to address the deficiencies? I’ve been involved in several projects which have looked at how to improve profitability. Here’s my proposed approach, … Continue reading

Posted in Fee Negotiating, Managing Change, Strategy | Tagged , , , , , , | 2 Comments

Fee Negotiating – a Four Step ‘Win-Win’ Process

Many clients have asked me for a process for fee negotiating and I can recommend this four step approach: Step 1 – Client says what they want. But instead of simply getting on and doing it, as many professional service … Continue reading

Posted in Fee Negotiating | Tagged , , , | Leave a comment

“We Will Let You Know” – the Dreaded Words After a Pitch

We’ve probably all heard these words after a client presentation: “Thank you very much. That was very interesting. We’ll give your presentation due consideration and let you know.” We typically go away and wait….and wait. Each day thinking we haven’t … Continue reading

Posted in Business Development and Selling, Fee Negotiating | Tagged , , , , | 1 Comment

How to price professional services

Here’s a review of the main ways that firms can charge for their services. Ideally the basis for charging should provide a win-win for firm and client. So how do the main forms of charging typically get viewed from these … Continue reading

Posted in Business Development and Selling, Fee Negotiating | Tagged , | Leave a comment

Matter Profitability – Plugging that Leaking Sieve

The maxim says “Failing to plan is planning to fail!” Yet how many of us consciously plan our matters? Clients ask us how much a matter will cost. And in effect we guess! The big danger in that approach is … Continue reading

Posted in Fee Negotiating | Tagged , | 4 Comments

Masterclass: Fee negotiation and pricing for law firms – 12 March, London

The brochure from ARK, the Masterclass sponsors, says about this Masterclass: “A recent study has found that the UK loses £17 billion per year through bad negotiation. With an increasingly competitive legal market and clients looking for more cost certainty … Continue reading

Posted in Business Development and Selling, Fee Negotiating | Tagged , , , | Leave a comment