When we meet with prospective clients, often their biggest question is focused on cost. They’re wondering how much the project will be, if they’ve budgeted enough, and if they can afford paying for a potential complex transaction. We know that no two projects are the same and understand the stress entrepreneurs face when it comes to affording certain business goals. Let’s take a deeper look at the benefits of fixed fees.
Over the years, we’ve found that a fixed-fee offering is what most people are looking for since business owners often fear an unknown cost. Fixed fees eliminate the guessing game and alleviate the feeling of watching and worrying about a ticking clock. Budgeting is also easier. With fixed fees, your incentive as the client is to get as much value as you can out of the services for the amount you paid. And oftentimes, the work gets done quicker, too.
Plus, our innovative approach has lead to a dynamic shift in our relationships with clients. It allows our team to develop a deeper understanding of our clients’ business needs and tailor our legal solutions for them. When a client agrees to a fixed fee, he or she is no longer concerned about the time phone calls take, or whether asking a question via email will cause the lawyer to spend significant time providing a thorough response. Likewise, under hourly billing, clients oftentimes withhold information, fearing that it will increase the time to complete the project. When we have the opportunity to engage “deeper” with the client into the various matters, we get a more customized and thorough solution for the client. In addition, as a result of a “deeper” engagement, the clients begins to understand his or her own legal issues better.
Bottom line: Having price certainty from the start means projects are often completed quicker and results in a more thorough representation, and delivers maximum value and efficiency.
Value matters, Time Should Not
Clients frequently ask me “how many hours it will take” to complete their project. They do so because, unfortunately, that is the way most of the other lawyers in the marketplace operate – based on hourly rates. However, what clients should consider instead is what sort of value the end result of the legal services is worth to them. The time it takes a lawyer to deliver that result should be irrelevant. There’s little need for a client to “see how the sausage is made”, but when they are being billed hourly, it’s hard for them not to want to see it. But, when clients are focused on the end result and the value of that result, they can relax and let the lawyers do their jobs without trying to manage the time being spent to get the end result.
Whether you’re working with us on a fixed fee or hourly rate basis, our internal procedures have been carefully designed to maintain efficiency and streamline the scope of work. We don’t ‘over lawyer’ projects to create work. Instead, we’re mindful of time, budget, and keep a successful end result as the focus.
Get to know us and see why our approach keeps clients coming back as their businesses thrive. Call Doida Law Group at (720) 306-1001 and let’s talk.