The Value Pricing System
https://www.wickersham.co.uk/a/6541/wWVxKzFL
Back story:
Three years ago, one of my former
students was working at a top Moscow
lawyer firm.
The firm wanted to produce more legal
articles in English for potential clients.
They wanted the English to be of
native-speaker standard.
Interested, a lawyer asked how much we
charged an hour for translations.
Olga charges for each symbol, for
example, the number of letters and spaces.
She does not charge an hourly rate.
Olga asked me how to reply to
‘how much we charged an hour?’
We ignored the question and explained
our system. We identified that our
client can calculate our price before
even sending us any work and
can confirm the price on receipt.
The client this week said
how much he liked our pricing system.
Read on:
The Lawyer offered us some work, for
presentation in court,which also involved
Olga making a personal visit to the notary.
Olga and I priced it and sent it to the lawyer.
The lawyer sent our quote to the client.Then, nothing!
After a week, we found that the client was
expecting to pay about 15% of the price we had quoted.
We think the client did the translation himself,
as nobody would quote that low for the
required quality.
We were upset to start a relationship with
our new lawyer. We considered the
Value Pricing lessons learned from Mark.
Our key disadvantage is that we deal with
the lawyer, but his client made the decision.
We were not able to explain our value
before disclosing the price, nor negotiate.
Though, this was a client that Mark would
describe as unwilling, or unable, to pay
a realistic price for our services.
In the future, if the lawyer can decide on
his client’s behalf, we can deal directly with
him and demonstrate our value.
If not, we will continue to offer excellent value
for money to those who need our quality
and can afford to pay for it.
‘Specialise in what you excel’ is another point
made by Mark. We do. It will mean turning
away business, which is painful.
In this case, there would have been no
money after the notary fees,so nothing was lost.
Our next step will be cost-effective promotion.
If you need native-English or Russian
proofreading or translations,
please let me know at
rjoyce1011@aol.com
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John Thornhill’s Partnership to Success
Product Creation Workshop
https://jvz7.com/c/593801/305413
Please make time to watch this!
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