But first, here is the link to the original article . . .
Why Discounting Fees Is Destructive To Your Law Practice
Recently, I spoke to a lawyer about handling a matter for me.
After we discussed it, it came to the ultimate question: How much do you think this will cost?
She quoted me her fee. I said that I would like to think about it for a day or so.
The next day I got an email from her saying she was giving me a “friends and family” discount. Of course, I was immediately excited to get the “bargain price” and almost sent her a request for the engagement letter.
Then, I got to thinking:
What’s the real price for handling this matter?
And by extension . . . to any business.
The same rules apply to all businesses.
Restaurant Week as a Crash Course in Discounting
Twice a year, many of the finest restaurants in the Boston area participate in a discount promotion called Restaurant Week.
Diners are offered an attractively priced “special” three course menu (typically with a few options for each course) — this year lunch is $20.13 and dinner is $38.13
This successful promotion —— packs restaurants and provides lessons that all businesses can learn from about discounting.
1. Don’t crowd out full-paying customers. Restaurant Week is offered during low demand time periods — usually during the end of the summer (August) and spring break (March).ᔥ Restaurant Week as a Crash Course in Discounting – blogs.hbr.org (blog)
How to sell more without Discounting
The Dangers of Discounting
— ChuckHill137 (chuckyHill) (@ChuckHill137) Wed Mar 27 2013
Business News: Restaurant Week as a Crash Course in Discounting http://t.co/xQLOl7jM62
— RapidFireMktg (Rapid Fire Marketing) (@RapidFireMktg) Wed Mar 27 2013
Restaurant Week as a Crash Course in Discounting – Rafi Mohammed – Harvard Business Review http://t.co/Vj8khv3MBA
— paeznyc (MΛЯGIΣ ) (@paeznyc) Tue Mar 26 2013
@HurdyGurdyRadio It’s service with a genuine smile, and with endless discounting as well. I don’t know how they stay in business.
— HugoBeB (Hugo) (@HugoBeB)
Well, that looks quite simple, although there is probably a bit more to actually doing it !
What should you do now?
- If you want a happy life, choose any discounting strategy very carefully.
- Want some help or ideas? Just contact us at Hotpink Websites now.
Too bad that all the people who know how to run the country are busy driving taxicabs and cutting hair.
~ George Burns
Remember – Discounting in Business