The Lingering Bitterness of Undercharging…

Posted by T. Greg Doucette on Apr 25, 2014 in The After-3L Life | Subscribe

I’ve written before about the need for lawyers to be able to charge less while still making a living.

But every now and then I regret practicing what I preach…

Without going into too much detail, yesterday I resolved a case involving one of my business clients. When they hired me awhile back I thought they had a horrible case — on the hook for $51,000+ with an unconvincing defense. So I quoted a low flat fee rather than charging by the hour or some other arrangement.

Well a month or so in, I discovered a key piece of evidence for the Plaintiff wasn’t what the Plaintiff thought it was. And yesterday (after more than a year of working on it) everything got settled.

Final price tag: $3,000

Client savings: $48,000

My fee: $750 :beatup:

I’m thrilled for my client’s 6,300% return on their investment, but I really wish I had charged more now…

Tags: , , , , ,

1 Comment

Molly
Apr 28, 2014 at 1:00 AM

Yeah, but weren’t they one of your very first clients? At the time you didn’t have the wallet padding to back a higher fee…if they had turned around due to a steep asking price, you wouldn’t have seen the $750. You were a major blessing to them for sure, though. And hopefully they’ll refer business your way.


 

Copyright © 2019 law:/dev/null All rights reserved. Theme by Laptop Geek.
Find TDot on Twitter or on Google+.