Maximize your firm's profitability with every client


  1. Selectively accept clients.
    Only say yes to clients that pay well, except when doing strategic pro bono work or extending a gesture of goodwill to your most loyal clients. For example, if a certain client doesn't pay much but could introduce you to new customers, decide if it's worth it. This approach emphasizes the importance of recognizing and maintaining the value of your expertise.
  2. Make profit a priority from the start.
    When you first start working with a client, focus on understanding their needs and how you can help them. This is when you can make the most money. Show them why your help is worth paying for.
  3. Avoid relying on future profit increases.
    Don't start with low prices, hoping you'll earn more from the client later. Usually, it doesn't work out that way. When thinking about taking on new work, be honest about how much it will pay from the start. This helps you avoid jobs that won't be worth your time in the long run.
  4. Consider other options before cutting prices.
    Before considering a price cut, explore other strategies that can demonstrate value to your clients. This could include offering a satisfaction guarantee for initial services, providing flexible payment terms, or standing firm in pricing discussions.
  5. Set conditions for discounts.
    Give discounts only after you've tried everything else, and make sure you write down the discount so it doesn't become the new normal price. Before you agree to a lower price, make sure there's nothing else stopping them from hiring you. This keeps your usual prices steady for the future.
  6. Be honest about gaining experience.
    If you're doing work for less money or for free to learn something new, tell your clients straight up. This is only for a while, not forever. For example, if you're new and want to build your portfolio, you can offer to do a project at a lower cost but explain that it's because you're gaining experience.


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