Law Firms: Would you like to increase revenue (and profits) without having to:
💎get more clients
💎do more work or
💎compromise value or values?
Now what sane person could possibly say no to that?
Well, it may not be as difficult as you may think, although you will have to be open to change.
Right now, whether you like it or not, the firm (in the form of its lawyers) are leaking money left, right and centre.
The question is, are you aware that that is happening?
If you are, that is a very good thing; if you’re not, you need to do some investigating, as I am pretty sure there is not one law firm out there which doesn’t have any leakage.
And that’s a pretty safe bet.
Here are just some of the ways that money is being leaked in the sales cycle:
🟣 Not recording all time.
🟣 Discounting, double-discounting, triple-discounting.
🟣 Over-servicing or doing additional work for free.
🟣 Not getting paid at all!
I think I’ve captured all the main headings but if I have missed anything out, please do tell me in the comments box below. 😊
So why is this happening?
The challenge that most law firms have is a lack of confidence in those who negotiate fees because they fear losing the work or the client.
This is a powerful, yet negative motivator as it means that they are not in charge of those fee discussions, right from the start.
Hundreds or even thousands can be won or lost in a phone call, depending on the competence and confidence of your fee-earners, in having the right conversations with prospects and clients, at the right time.
So how many hundreds of thousands of pounds is your firm losing?
Want to stop your bucket leaking?
I’m Vanessa and I help law firms get paid their true worth consistently and unapologetically while keeping their clients happy. If your firm frequently under-estimates, over-services or irrationally discounts, I can help you increase billing, recovery rates and confidence.
Ready to talk?
📞Get in touch today for a no-obligation chat on 00-44-12-02-743961