Not all business is good business. Sometimes the best law firm marketing strategy is to walk away from a particular client opportunity and attract a better client.
Here are three times when it makes sense to walk away from a business opportunity:
1). Walk away when you know the compensation you are receiving is not equal to the value you are delivering to the client. In other words: If the client is not willing to paying enough for the service to be performed correctly, you should walk away. Do not compromise and take shortcuts with your reputation.
2). Walk away when the client tries to negotiate the fee down before the work even starts.
3). Walk away when you are deep into the work and the client is taking advantage of you. If the scope of the engagement gets bigger, you must be compensated accordingly. If the client is unwilling, you need to find a way to remove yourself from the engagement.
Making a strategic decision NOT to take some kinds of business can be just as important as making a decision as WHICH business to take. All of these decisions should figure into your law firm marketing strategy.
This video explains.