When I entered the Solicitors profession - It was as a 'junior bag carrier' to an experienced, expert and (by many) trusted business counsel to a significant men of business.
Over the years, in some small way I have evolved into the latter (with certain clients), but far too often I come upon younger men who buy all the goods for their business via Alibaba, and think that you deal with professional advisers in the same way.
I am going to draw you analogy with my recent engagement of a plumber.
The need for a plumber came about because I had a slow draining sink (to my belief and annoyance – due to my own foolhardiness in repeatedly emptying coffee grounds into that sink).
I was faced with spending a considerable proportion of my forthcoming weekend dealing with problem myself - removing a u-bend & cleaning it out, then possibly rodding a pipe in a wall (and hoping that cleared any blockage further into the drainage system) and that my attempt(s) to re-assemble everything went smoothly and easily = I just couldn’t face it.
Instead I engaged ‘Reg’ - a plumber with whom I have developed a mutually beneficial client / business relationship over twenty odd years of needing a good plumber in West London (+ Not easy!).
Reg knows that I will pay him a fair sum for his work, and I know that Ron will turn up on time and 'sort' my plumbing problems.
I’m sure I could have spent a considerable period of time online comparing plumbers I’d never met before (and / or would be unlikely to ever see again) over what their minimum and ongoing charge out rate was etc.
Critically, I could have had them competitively quote for the relatively extensive work - which I as an inexpert / laymen envisaged might be necessary (See above).
I’m sure many of those I might have wished to engage by that process - would have carried out the relatively extensive work that I outlined I believed was needed, presenting me with a apparently competitive (but relatively extensive) bill.
What actually was arranged was that Reg said "Let me come & have a look at it, and I’ll ‘sort it’ on a ‘what the job deserves’ basis". I agreed.
On arrival, Ron looked at the problem, went back to his van and produced a wood & leather plunger (which he apparently was gifted by his apprentice master in the early 1970s – although it looked Victorian = "You can't get these now" etc.); and with a ‘special trick’ (which he imparted to me) he cleared the blockage completely in under a minute.
GBP £20 ‘cash payment’ later – we both parted as content men (until the next time I need him).
The point is that I simply cannot scope or time-budget much of the necessary work which people approach me with without either sight of relevant documentation and / or a sensible initial conversation with the individual who wants assistance – which I generally offer on a no-obligation basis.
There is a danger that unless you do this - you are encouraging a person in need of assistance to focus solely upon knowing ‘price’ and downplaying (to the point of ignoring) ‘value’.
For example, I've recently been approached by a prospective client who believed he needed two transaction documents, and wanted a quote for their production. It was rapidly clear to me that only one material document was required, for reasons that I explained in detail. It took the prospective client rather more time than I thought it would - to realise that those others who had quoted for what the prospective client erroneously believed he needed - were clearly displaying their lack of experience & expertise!
Too often, when asked to 'quote' for work – based upon what I then currently know – I am being asked to ‘quote for creating a piece of string’ – when I haven’t even had a chance to consider / concur that the client needs a piece of string / let alone how long it needs to be / and (accordingly) what it might cost!
My offer to prospective clients is clear – But to set it out - They should ideally provide me with some documentation and I will review the same upon a no-obligation basis (and the fact that many prospective client seem disinclined and / or unable to do this – is often a worrying sign in terms of working efficiently / keeping fees economic).
Additinally and / or alternatively, I habitually offer an initial no-obligation discussion with a prospective client as to the background and current circumstances – the combination of these two actions (documentation review & consultation) allowing me to scope and time budget proposed fees.
If the prospective client is happy with my time budget proposed fees then we might develop a business / client relationship as mutually beneficial as mine & Reg’s. If not – they have nothing to lose, but we almost certainly are both the losers in the long run.
I’ve said it before – but it’s worth repeating – if introducers help me to earn a fee, then there is business to go round –v- If introducers seek as their raison d’etre to drive down such fees I can earn = You cut your own throat!
Let me know if you wish to discuss any of the above aspects / issues
With best regards
DanielRobertJohnson (Skype)
www.linkedin.com/in/danrjohnson
www.EquitableLaw.com
+44 (0) 7788 537 187 : U.K. Cellular Tel.
+44 (0) 333 390 3525 : London Based / Global Roaming Voicemail
N.B. For the record – My plumber (Reg)’s house is worth about three times (x 3) as much as mine (a Solicitor) = Makes you think, doesn’t it!
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