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Sales Speak: Strategies to Avoid or Reduce Billing Rate Discounts
Requests for discounts have become a routine step in the legal services purchasing process. Lawyers face the uncomfortable task of defending their billing rates in both RFPs and client pitches. But too often, lawyers don't make an effort to resist giving a discount when asked. Mostly because they haven't been trained in how to do it.
Oddly, in client presentations, it's not even the client typically asking for the discount. A recent study found that nearly 75% of sales people were the ones that initiated the talk about discounts. I believe it. More than a few lawyers I've worked with argue that they will lose the work if they don't give a discount. Of course, I've yet to find a lawyer that has tested that assertion.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
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