Lawyers spend half their time, up to 48%, on administrative activities like marketing or billing.
Monday we talked about the first of the three strategies to get paid: label, ask, proof.
Today, let’s talk about ask.
Ask to be paid
The idea of asking to be paid brings up all kinds of insecurities. Definitely for me, and I’m guessing for you, too. It can be horrifying but also liberating.
Knowing you worth and asking people to agree to pay it says that you are #EQStrong. My way of saying emotionally strong. You are aware of your worth and the value you bring to your clients, and ultimately, the world.
Women lawyers get stuck when owning their value. Pay inequities still exist and self-employed lawyers are not exempt from devaluing messages. My friend and colleague, Victoria Pynchon is an expert on negotiation and runs a training firm that helps women negotiate better.
Women lose close to 1 million dollars over the course of a lifetime of work because they refuse to a) negotiate and b) negotiate fully. That just means going beyond the first round. That number still stings for me because I lost a $150k fee because I didn’t know to negotiate it into my deal.
You need to be comfortable setting fees that are aligned with your value as a solo or small firm lawyer. There will always be someone claiming your fees are too damned high. That’s ok and totally their opinion. That person is not YOUR person. It helps to sit down and write out your value points. Also, take negotiation training, if you haven’t.
All I’m trying to say is don’t let poor money mindset keep you from earning what you deserve.- end of rant. Ask clients to agree to pay you throughout their client journey. Set the expectation and you get paid.
Monday, we’ll pick up the last piece of the puzzle, social proof. I think you’ll find it really interesting.