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Solo In Chicago

...empowering the Second City's entrepreneurial legal community

Tuesday, January 16, 2007

Fee setting

A good statement from a recent luncheon speaker. I absolutely made this error too much when I started by solo practice...we're slowly but surely recovering.

Don’t fall victim to the trap of lowering your fees. When you cut your fees, you undermine your credibility and you attract clients who want only low fees. These clients are usually the worst clients you can attract. When you accept clients who nitpick about fees, they will needle you to death and then jump to another lawyer when he offers a fee $1 less than yours.

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