Are you quoting your firm out of business? — Balance profitability with client demands
Abstract: In today’s highly competitive legal market, some firms price engagements dangerously low simply to get clients in the door. Because the majority of firms can’t afford even one unprofitable year, they may be pricing themselves out of business. This article explains how firms can group engagements according to the level of experience, expertise and time needed to complete them, so that they can quote clients with confidence. A sidebar discusses what matters to clients besides cost.