Boutique Law Firms, Small Law Firms, Solo Practitioners

Signing Up The High-Paying Client

Here is how one lawyer did it.

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I am about to sign up a client who is willing to pay rather large legal fees. The fee is big enough to keep me afloat for a long time and make me wonder why I continually torture myself searching for a job. When I am fortunate enough to get an opportunity like this, I pay attention to how we met, how I present myself when selling my services, and presenting my fees. I do this so that I can learn from the experience and hopefully replicate the positive results. So here is a summary of our encounter.

The matchmaker

The potential client was referred to me by a fellow attorney.

The referring attorney went to a top law school, did her time at Biglaw, then went in-house for a major company before transitioning to a midsize firm where she currently works.

We met several years ago at a local bar association, connected on social media, and met occasionally at social events. We never worked together professionally, although I answered her questions via email or text messages.

I do appreciate being thought of as a referral since it is a reflection of her impression of me professionally. While I don’t believe in giving referral fees in most cases, I’ll likely send her and her firm an appropriate holiday gift. And of course, she will be on the top of my list for an appropriate referral of my own.

Meeting the potential client

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After briefly talking over the phone, I knew this was a serious matter and the client sounded very concerned. She was also very sophisticated. She did her own research online so she had a basic idea of her legal issues.

I invited her to my office to discuss her case in more detail and look over any documents she had. Generally, I dislike giving free consultations, but in this case I made an exception for two reasons. First, I felt comfortable discussing her case because she will need a lawyer to solve her very serious problem. She won’t get out of her mess by mooching free advice from numerous attorneys and then using “DIY Esq.” for $99.95. Second, I am more generous to potential clients that come from a trusted referral source.

We met for a little over an hour; she told me what happened, what her concerns are, and her options. While we were talking, I looked for physical and verbal cues that would indicate what kind of client she would be. Is she likely to be emotional? Demanding? Lazy?

Presenting my fees

Once I had an idea as to how her case will proceed, we discussed my fees and costs. I quoted an initial deposit in the low five figures with an estimated cost in the mid-five figure range.

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When I quote a high fee to a potential client, sometimes they look at me with shock, as if I was trying to steal their firstborn. But this potential client seemed to understand. But she did ask why the cost would be so high.

I had to provide a detailed explanation so both the potential client and I can justify the fee. I told her that the fee would include the cost of hiring an outside professional and a private investigator. Also, since we will be making multiple copies of several thousand pages of paper and mailing them in most cases overnight, these costs will have to be accounted for as well. Finally, I will spend a great deal of time developing our strategy and negotiating with the other side.

Generally, when the potential client is required to pay high legal fees, they understandably expect results. Therefore, I ask them what they are expecting by hiring me. Once they tell me, I tell them what I think the chances of that particular outcome is.

Analysis

One can say that this meeting was the result of months, even years of networking, writing articles, buying lunches for the right people, doing good work for existing clients, investing in the right advertising, and not being a jerk. Alternatively, this meeting could have been due to just dumb luck and perfect timing. Either is likely, although it is said that luck tends to favor the prepared.

Every potential client should be treated professionally, but each one is unique and should be treated as such. Potential clients who have serious legal problems will feel better about paying large legal fees if they understand how the funds will be applied, especially if there are outside expenses.

Also, pay more attention than usual to aesthetic details. Even if you are a start-up shoestring solo, meet at a conference room (or borrow a colleague’s conference room) instead of a coffee shop. Wear a freshly pressed suit. Eat a few mint Tic-Tacs before meeting with them. High-net-worth people tend to notice (and make judgments on) little details like these, for better or for worse.

Finally, be mindful of referral sources, as they too will be watching. I met this client through a referral from a prominent attorney. So I have to be extra thorough from beginning to end. This can open doors to future referrals and even job opportunities. There is a world of difference when a referral source says, “Try contacting Shannon. I met her at a mixer and she seems knowledgeable,” compared to “You have to contact Shannon. I’ve seen her in action. She’s expensive but well worth it!”

The potential client and I scheduled a follow-up meeting next week. She promised to bring her checkbook. I promised to have an attorney-client contract ready.

Shannon Achimalbe was a former solo practitioner for five years before deciding to sell out and get back on the corporate ladder. Shannon can be reached by email at sachimalbe@excite.com and via Twitter: @ShanonAchimalbe.

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