Raising The Rates : Client Fees
By: Krystal Champlin
HE NEWSLETTER FOR LEGAL OFFICE MANAGERS
LAW OFFICE ADMINISTRATOR
Volume XIX / Number 10 September 2010
(Reprinted with permission of Ardmore Publishing Company)
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When to raise the rates, How to raise the rates, Whether to raise the rates
The trend today “is away from the billable hour.” Even so, hourly billing is still very much alive, and raising those rates is tricky business.
How much is enough? How much is too much? When should the deed be done? And will the clients stay or leave?
The firm has to consider the entire picture, says ROBERT J. HENDERSON, a Jackson Hole, WY, law firm consultant. And that includes what it’s charging now, the feasibility of an increase, how to present it to the clients, and what’s to be done if a client says “no thanks.”
LAW OFFICE ADMINISTRATOR
Volume XIX / Number 10 September 2010
(Reprinted with permission of Ardmore Publishing Company)
***********************************************
When to raise the rates, How to raise the rates, Whether to raise the rates
The trend today “is away from the billable hour.” Even so, hourly billing is still very much alive, and raising those rates is tricky business.
How much is enough? How much is too much? When should the deed be done? And will the clients stay or leave?
The firm has to consider the entire picture, says ROBERT J. HENDERSON, a Jackson Hole, WY, law firm consultant. And that includes what it’s charging now, the feasibility of an increase, how to present it to the clients, and what’s to be done if a client says “no thanks.”