How do you determine your fees?
No doubt you consider your overhead, how much you want to earn, and how much other lawyers charge.
But there’s something else you should consider:
How much is it costing the prospective client who doesn’t get the benefits and outcomes you offer?
How much are they spending in direct costs, lost opportunity costs, and emotional costs?
If a business owner isn’t collecting money owed to them, how much are they losing each month?
If a estate planning client doesn’t have the protections they need, how much are they putting at risk and how much could it cost their estate if they die or become incapacitated?
If a family law client is seeing a therapist to deal with unresolved emotional issues, how much are they spending each month?
When you know what the prospective client is spending or risking, you can show them how your services provide a better value.
People make “buying” decisions based on emotions and then justify those decisions based on logic.
If you can show them how hiring you actually saves them money, the logic becomes undeniable.