Last week, I pontificated about the value of limiting the number of clients an attorney takes on to 10, because it allows them to earn more and work less.
I also said most attorneys won’t do it.
Some attorneys do, however. Appellate attorney Steve Emmert is one of them.
In response to my email, Steve wrote:
(Heh, heh!) I currently have fewer than ten files open. Most of them have seven-digit deltas, of course, so I can still make a living. But you’re absolutely right about this.
This week I took a call from an ad guy at SuperLawyers, in which I’ve been listed for several years, though I’ve never advertised with them. He asked if I’d like to have an extra three or four clients a month. I’m probably the only guy who’s ever told him, “No†in response to that question. I told him that I start getting nervous when I have more than about 12 files open, and three or four more a month would drown me. He really didn’t know what to say.
Who wouldn’t like to be able to tell a sales rep they don’t want any more business?
Steve also shared a story that illustrates the same idea in a different way:
Years ago I attended a brilliant presentation by a guy named Mark Powers, of the legal-consulting firm Atticus. He described his trip to a big firm for an in-house presentation. As soon as the introductions were complete, Powers said, “Now, the first thing I want each of you to do is double your hourly rates.†The ensuing uproar subsided just long enough for one of the partners to stammer, “But, but if we do that, we’ll lose half our clients!â€
“Exactly!†a triumphant Powers replied with a smile. He explained to them that if they got the same amount of money for doing half the work, they’d have a better quality of life.
Point, set and match.
I’ve had discussions about raising fees with many attorneys over the years. When I do, I can almost always hear the wheels turning in their head as they wrestle with idea. Sadly, their desire usually loses out to their fear.
Not my friend Steve, however, who figured this out on his own.
I know this because I interviewed him and published a book based on that interview. In it, he shares the secrets to his success, or, as he might describe them, the methods to his madness.
How to Build a Successful Appellate Practice contains valuable practice-building and career-building advice for attorneys in any practice area.
