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LawBiz® TIPS – Week of November 18, 2014

LawBiz(r) newsletter

We're approaching the end of the year. This is the time to review our success, to gather our thoughts and goals for 2015, and to count all the blessings of 2014.

"What do I want to be when I grow up?" is the question that we all ask ourselves at this time. More Baby Boomers are testing their psychological waters to see if they still are enervated by the practice of law. If not, review the process that will best suit your needs, whether to sell now (; or to position your practice for sale at some point in the future.

Book/CD package special: Get our "Starting Your Practice" package (below) to run your business more effectively, including how to collect your fee.

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Low Prices: Don't Undercut Your Image

Pricing is a more significant decision than you might at first think.

You might think that the only factor relevant in creating prices for your services includes the bottom line: how much you need to charge to cover your expenses and earn the kind of wage you'd like to earn. But another factor is equally relevant: your image.

What you charge is important in creating an image for your clientele. You might think that if you undercut the competition, you will gain clientele. However, the truth is that if you charge too little, you could drive away potential clients, who might view your services as substandard.

Consider the example of McDonald's fast-food restaurants. An August 2014 Associated Press article by Candice Choi notes that McDonald's is having a hard time changing its image of being cheap and unhealthy. Even though McDonald's has revised its menu to add healthy choices, including wraps, salads, and fruit, consumers still "don't consider McDonald's a place to get high-quality food, in part because the prices are so low," said Choi. McDonald's has tried to add higher-quality items, such as premium Angus burgers, but consumers were not willing to pay the price, which was perceived as too high for a place like McDonald's. The restaurant is trying to improve its image among reporters and bloggers by hosting dinners featuring McDonald's food items prepared by famous chefs. Whether this tactic will work or not remains to be seen.

Lawyers, too, should understand that their pricing will determine, to a large extent, their clientele, and they should think carefully about what kind of clientele they would like to attract.

If you start out your business as a place to get cheap services, the impression among potential clients might be that the quality of those services is cheap, too. In other words, undervaluing your services will undervalue your image.

Starting Your Practice package

Create a firm that will be successful by design

Starting Your Practice

until Nov 30
(reg. $99)

To Order:

or order online at

Package contains:

  1. Collecting Your Fee: Getting Paid from Intake to Invoice

  2. Business Competency for Lawyers (eBook)

  3. 3 CD set: Small Firm Logistics: Turning Your Practice into a Business

Want to get your practice off to a great start? Ed Poll provides you with ways to simplify the process of operating a law practice. His insightful strategies and tactics help you find satisfaction and fulfillment in your career. Create a firm that will be successful by design, not by accident, and you'll be more effective with your clients and more profitable. Learn more.


Low Prices: Don't Undercut Your Image

Starting Your Practice - 2 book & 3 CD package - $79

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"Successful lawyers know what winning endurance athletes know. Dedication and hard work will only take you so far. Even if you love what you are doing, if you listen only to your own advice, you will never reach your potential. To rise above your personal limitations, you need the perspective and encouragement of a coach. So, if your endurance sport is the practice of law, you should hire Ed Poll. With his help, you will surprise yourself with what you can achieve."

San Francisco, CA

"Like many people nowadays, I am bombarded with distractions clamoring for my attention. Amidst all the clamor, I am always happy to receive another of your emails. You always express a great deal of common sense. I also particularly appreciate the underlying tone of decency, by which I mean that the subtext of much of what you write is that it's better to be a good person and mediocre lawyer than the other way around. Of course one may be both a good person and a good lawyer, but in an Internet of narcissists and a profession filled with jaded cynics, it is comforting to learn that some senior colleagues are conscious of the greater impact their work has on the world around them."

Sydney, Australia


Ed Poll, LawBiz® Management   |   |   |   |


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