Secondly, and this will play upon the second rule to a degree. If you do price yourself too low, you might
find yourself so busy that you cannot perform quality service, eventually leading
to mistakes, missed deadlines on court appearances for your clients, and the
eventual exodus of your entire book of clients.
This leads to the second rule - charge what the market demands. If the typical going rate for service of one
court document in your market is $60.00, and you charge $55.00 the price may
lead to demand for your service based on the lower price. If you get so busy because you are cheaper,
there's a good change you will get over loaded with assignments and ultimately
provide poor service. Consider also that
you may work yourself to an early grave.
If you keep your price competitive at $60.00 or even a little higher,
however, you will gain a share of the market amongst your local competitors,
considering everyone is charging the same relative price. You might even be
working less if you charge $65.00, but end up making the same amount of money
as your competitors or perhaps even more.
What you would rather do? Work
harder for less money per assignment or work less for the same money, be tanned
and rested, and not be overloaded with too many assignments, and be able to
provide superior service to your current book of clients. In turn, you will
have loyal clients who tout your good name and superior performance to others
who might have a need for your services.
In other words, do you want to do quantity or do you want to quality of
work? Think about it.
Have I piqued your curiosity? If so, check
out my book “The Business End of Process,
Running a Process Service Company From the Ground Up” available on
Amazon.com. http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Daps&field-keywords=%22The+Business+End+of+Process%22&rh=i%3Aaps%2Ck%3A%22The+Business+End+of+Process%22&ajr=0.
