Fees based on competitors 

If you base your price on the competition you accept the fact of being average. Directors / partners must find ways to differentiate their firm and service so as to create additional value for specific target markets / market segments.

Individual fee earners / departments don’t know their own profitability

Partners / fee earners push volume, sometimes at the cost of profitability. Ever had the feeling you are working as hard as you can but the cash flow does not show it? It’s a common mistake if your goal is turnover only and profitability is not build into it. How many of the directors / partners / professional assistants receive incentives based on turnover and not profit?   

Failure to segment clients

Excellent service must be provided to all clients. However most law firms spend time serving their least profitable clients. They don’t value their most profitable clients. As a general norm 80% of your income is derived from 20% of your clients. Failure in identifying and focusing on your top clients make your firm vulnerable against strong competition and the possible loss of work and your profitable clients.     

Prices are held at the same level for too long, ignoring the increase in costs

Prices / costs / fees are not reviewed on a regular basis. If it’s reviewed it’s a quick meeting without sufficient research and preparation. How many times did your staff receive increases without increasing fees? This result in ever increasing staff cost / overheads and lower profitability. As a general norm, for every 1% you are under pricing you loose 10% in profit. 

Insufficient time spend on managing and price analysis

The focus on price increases must be the same as the focus placed on reducing costs. What you measure is what you get. If you measure your staff / departments on costs, fees and profitability you will certainly experience a dramatic increase in profit. Proper pricing / cost recovery has a greater impact on your firm's profitability, 3 times greater than cost cutting and 2 times as much as and increase in sales.     

We have a solution that can assist you, obtain your No-Nonsense Guide: Increase Your Fees and Profitability. The No-Nonsense guide in electronic format (e-book) list 5 critical, clear actionable steps that can be implemented to provide you with the best opportunity to increase your fees and profitability. 

Order your electronic copy of the “No-Nonsense Guide: How To Increase Your Fees and Profitability  before 28 July 2009 at the special price of R 90  and you will receive your copy in your inbox on confirmation of payment.

Johan Jordaan

SellServe

http://www.ecademy.com/user/johanjordaan

To Order your electronic copy

1. Make Payment by means of Electronic Transfer or Cash Deposit to the amount of R 90 before or on 28 July 2009. From 29 July 2009 the price will increase to R150

2. E-mail: Your Name, Business name, E-mail address, Postal Address,   
                                     sellserve@gmail.com

3. You will receive a reply e-mail to confirm Payment Received & Order Dispatched

4. Your electronic copy and invoice will be sent via e-mail to the e-mail address provided, on receipt of payment!   

Enquiries:  Johan Jordaan Cell No   083 655 5693 /  083 719 9267                 FAX NO 086 543 3518

2 Mill Village, Crane Place, Empangeni, 3880