Legal Fees are Increasing. Should Yours?
Top attorneys plan to start charging clients $1,000 per hour for their services, according to the Wall Street Journal.
“We have viewed $1,000 an hour as a possible vomit point for clients,” says a partner at a New York firm. “Frankly, it’s a little hard to think about anyone who doesn’t save lives being worth this much money,”…
This may not be breaking news if your expertise commands a similar rate or if your legal costs come nowhere close to this four-figure fee. However, this groundbreaking legal change causes me to ask you if it’s time to increase your prices?
Earlier this year I took a long, hard look at my business and decided to increase prices on all products and services. It wasn’t a huge leap but just enough of a hike to continue producing the niche services I offer.
Sometimes industry changes move you to consider increasing fees, and other times it’s simply a necessity.
If you work for someone else, you expect a salary increase each year. Why not grant yourself one?
Technorati Tags: small business marketing, solo business marketing, solo entrepreneur, Wall Street Journal, raising fees, setting fees, niche marketing
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New Online Marketing Course Available
I’ve just finalized a six-step marketing course that reveals some of the products and services I include in my campaigns and how to effectively add them to your own.
The introductory page explains more.
Please consider subscribing, and when you’re done, let me know your thoughts and results.
I’m off to Miami until Wednesday to present two marketing seminars and gather ideas to share when I return.
Technorati Tags: small business marketing, solo business marketing, solo entreprenuer, online marketing course
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Small Channels Offer Big Rewards
The Wall Street Journal interviewed William Lauder, CEO of Estee Lauder, in the August 20th edition. The Q&A focused on the challenges his firm faces to continue growth while department stores and similar sales channels consolidate.
Mr. Lauder shared five tips for “seeking new territory for your business.” I found one of those tips to be especially important for solo business owners.
Sometimes the biggest retailers don’t represent the biggest opportunities.
Some of us leapfrog over smaller and broader businesses in order to work with large, prominent firms. But as Mr. Lauder’s tip simply explains, niche opportunities can be just as rewarding, if not more.
Think in terms of your own firm: would you want prospects to sidestep working with you in favor of your industry’s larger and more well-known participants?
Technorati Tags: small business marketing, solo business marketing, solo entreprenuer, Estee Lauder, William Lauder
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Super Market Lessons
Supermarket circulars teach great marketing lessons. Here’s what I’ve learned from watching how my preferred store promotes.
1. The circular arrives on Thursday or Friday so that I have plenty of time to review each page before I shop on Sunday. The timing is not too early so I misplace the paper, and not too late to motivate me to shop on the first sale day.
2. The price model encourages you to buy in bulk. Juices sold in cartons were recently priced 5 for $5, motivating you to buy five cartons at once, not one carton for $1.
3. Triple coupons have made a comeback. And that saves you money, right? Maybe, but I notice that the items I prefer buying have mysteriously increased in price. So the coupon deal makes no difference in most cases.
Supermarkets would not market to us if they weren’t competing against other grocery chains. So thank goodness for competition. We receive their circulars each week, and along with it, a healthy dose of marketing examples to convert into methods that work for our solo businesses.
Technorati Tags: small business marketing, solo business marketing, solo entreprenuer, supermarket marketing, grocery stores
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Shirley George Frazier - Solo Business Expert, Author, College Mentor
When you hire me to speak at your conference, college or special event, attendees will thank you for a great program. Media interviews also welcomed. Call or Email me. 973-279-2799 or shirley@shirleyspeaks.com.
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