Latest / Wealthy Woman Lawyer Podcast, Helping you create a profitable, sustainable law firm you love / Episode 323 | The $250K Mistake: Why Your Law Firm's Pricing Strategy Is Costing You Six Figures

Transcript

Episode 323 | The $250K Mistake: Why Your Law Firm's Pricing Strategy Is Costing You Six Figures · Wealthy Woman Lawyer Podcast, Helping you create a profitable, sustainable law firm you love

• 0:01
  Intro: Welcome to the wealthy woman lawyer podcast. What if you could hang out with successful women lawyers, ask them about growing their firms, managing resources like time, team, and systems, mastering money issues, and more? Then take an insight or two to help you build a wealth generating law firm. Each week, your host, Devina Frederick, takes an in-depth look at how to think like a CEO, attract clients who you love to serve and will pay you on time, and create a profitable, sustainable firm you love. Devina is founder and CEO of Wealthy Woman Lawyer, and her goal is to give you the information you need to scale your law firm business from 6 to 7 figures in gross annual revenue so you can fully fund and still have time to enjoy the lifestyle of your dreams.
• 0:47
  Now here's Davina.
• 0:49
  Davina: Welcome to the Wealthy Woman Lawyer podcast, where we help women law firm owners cultivate the mindset, strategies, and systems to scale their firms to and through $1,000,000 in gross annual revenue. I'm your host, Attorney Devina Frederick and founder of Wealthy Woman Lawyer. Today, we're talking about a topic that might make you a little uncomfortable. But I promise you, if you stick with me through this episode, you are likely to experience a major breakthrough in how you think about your law firm business. This is a money conversation.
• 1:21
  Even if you aren't sure you wanna scale your law firm to a large size or you don't feel like you need to make more money necessarily, I want you to stick with me. Specifically, I'm going to be talking about how much money you may be leaving on the table right now because of your fee strategy or lack thereof. And I'm not being dramatic when I say this one mistake could be costing you $250,000 or more. For many of the law firm owners I've worked with over the last thirteen or fourteen years or so, it's been that and sometimes more. Here's what I see all the time.
• 1:55
  Smart, talented, hardworking women attorneys who are excellent at what they do, who have great reputations, who have clients who love them, but who are dramatically undercharging for their services. And it's not just costing them money. It's costing them their time, their energy, their ability to hire the team they need, their ability to build the systems that would free them up, and ultimately, their ability to scale to 7 figures and beyond. Quite frankly, the inability to charge what your services are worth and to collect those fees leads to burnout because who has the energy to work hard all day and then spend their weekends chasing their money. So today, we're gonna go deeper into why your fee strategy matters so much more than you probably realize what's really going on when you undercharge and what a strategic approach to charging what your services are worth actually looks like in a wealth generating law firm.
• 2:56
  If you've ever felt uncomfortable talking about money with clients, if you've ever discounted your fees because you were afraid the client would say no, if you've ever worked way more hours on a case than you anticipated and felt resentful about it, or if you've ever looked at your revenue at the end of the year and thought, I worked so hard. Where did all the money go? This episode is for you. Let's dive in. But first, let me tell you a little story about Mary, we'll call her.
• 3:24
  Mary is exhausted. She'd been running her family law practice for eight years. She had a small team, a paralegal and an administrative assistant. She was working sixty hour weeks, rarely taking vacations, and was constantly stressed about finances despite a full caseload. She was bringing in about 350,000 annually.
• 3:45
  Not bad, right? Except she was handling about 45 cases per year. That's an average value per matter of less than $8,000 But here's the kicker she was spending an average of eighty to one hundred hours per case, sometimes more. Let's do the math on that. If she's spending one hundred hours on a case that brings in $8,000 that's $80 per hour.
• 4:09
  Mary went to law school. She passed the bar. She has eight years of experience. She's an expert in her field, and she's effectively earning $80 per hour. That's less than many paralegals make.
• 4:22
  But it gets worse. Out of that $350,000 in revenue, she has to pay her paralegal, her admin, her rent, her software subscriptions, her malpractice insurance, her marketing costs, and all her other overhead. After all of that, she was taking home maybe $100,000 a year for sixty hour weeks for eight years of experience for being the CEO of her own business. Mary feels like she's working harder than ever and not getting ahead. She feels like she can't afford to hire another attorney because she needs her salary.
• 4:57
  Plus, she can't afford to invest in better systems and automation even if she had time to set everything up, which she doesn't. Mary feels trapped. Mary doesn't have a work ethic problem, a marketing problem, or even a systems problem. She has a fee structure problem, and it is costing her everything. Can you relate to Mary's story?
• 5:18
  Now, I know some of you are listening to this and thinking, But, Devina, I can't just raise my rates. My clients can't afford it. The market won't bear it. I'll lose business. And I want to challenge that thinking because here's what I've learned after working with hundreds of women law firm owners.
• 5:35
  Your fee strategy isn't just about how much money you make. It's about everything else in your business. Let me explain what I mean. First, your fees determine your capacity to invest in growth. If you're undercharging, you don't have the capital to hire the team you need.
• 5:52
  You can't afford to bring on that associate attorney who could take cases off your plate. You can't afford to hire that experienced paralegal who could handle more complex work. You can't afford to invest in the marketing that would bring in better quality leads. You're stuck in a cycle where you're too busy to grow, but you can afford the help you need to get less busy. Second, your fees determine the quality of your clients.
• 6:18
  This is something many attorneys don't realize. When you charge premium rates, you attract premium clients. Clients who value your expertise, clients who respect your time, clients who follow your advice, clients who pay on time. When you charge bargain basement rates, you attract bargain basement clients. Clients who question everything, clients who demand your personal cell phone number and call you at 9PM, clients who ghost you when it's time to pay, clients who leave you bad reviews because they had unrealistic expectations.
• 6:50
  And the quality of your clients directly impacts your quality of life. Third, your fees determine your ability to deliver excellent service. When you're undercharging, you must take on more cases to make the same amount of money. More cases mean less time per case. Less time per case means you're rushing, stressed, making mistakes, and not delivering the level of service your clients desire.
• 7:19
  But when you charge appropriately, you can take on fewer cases and give each one the attention it deserves. You can be more thorough. You can be more strategic. You can deliver better outcomes. And ironically, that leads to happier clients, better reviews, and more referrals.
• 7:36
  Fourth, your fees determine your team's compensation and morale. If you're not charging enough, you can't pay your team well. And if you can't pay your team well, you can't attract and retain top talent. You end up with high turnover, constant training, and a team that's just getting by instead of excelling. But when you charge appropriately, you can pay your team competitive salaries.
• 7:59
  You can offer bonuses and benefits. You can invest in their professional development. And that creates a positive, productive work environment where people want to stay. And fifth, you're best determined your own compensation and quality of life. This is the one that matters most, even though we often put it last.
• 8:18
  If you're not charging enough, you're not paying yourself enough. You're working incredibly hard and not reaping the financial rewards you deserve. And that leads to burnout. It leads to resentment. It leads to questioning whether this whole law firm ownership thing was even worth it.
• 8:36
  So when I say your fee strategy is costing you $250,000 or more, I'm not just talking about the direct revenue you're leaving on the table. I'm talking about all the downstream effects of undercharging. Let me break down the real cost of undercharging because I think when you see it laid out, it's gonna be eye opening. Let's go back to Mary's situation. She was bringing in $350,000 a year, handling 45 cases at an average of $8,000 per case.
• 9:06
  Now let's say Michelle implemented a strategic fee structure. Let's say she raised her average case value to just $12,000 not even a dramatic increase. If she handled the same 45 cases, her revenue would jump to $540,000 That's an additional $190,000 in revenue. But here's where it gets interesting. Because Mary no longer has to handle 45 cases on her own, at $12,000 per case, she could handle just 30 cases and still bring in $360,000 more than she was making before.
• 9:43
  That means she could reduce her caseload by a third. She could work fewer hours. She could take actual vacations. She could have dinner with her family without her laptop open next to her. Or, and this is what I would recommend to Mary, she could keep handling 45 cases, bring in that $540,000 and use the extra $190,000 to hire an associate attorney and another paralegal.
• 10:10
  Now she has a team that can handle more work. She can start delegating. She can start working on her business instead of in it. She can start building the systems that will allow her firm to operate without her constant involvement. And within a year
• 10:24
  Intro: or two, with that team in place and those systems built, she could scale to $1,000,000 or more in revenue, all because she fixed her fees. But let's say Mary doesn't do this. Let's say she keeps charging the same rates, keeps handling the same number of cases, keeps working sixty hour weeks. In five years, she'll have made $1,750,000 in revenue. Sounds like a lot.
• 10:48
  Right? But if
• 10:49
  Davina: she had implemented strategic fees and scaled her firm, she could have generated $5,000,000 or more in revenue within five years. That's a difference of over $3,000,000 over five years because of fees. That's what I mean when I say this could be costing you $250,000 or more. And for many of you, it's costing you much, much more than that. Now you may be wondering if undercharging is so obviously bad, why do so many of us do it?
• 11:15
  Great question. And the answer is complicated because it's not just about the numbers. It's about psychology, mindset, and some deeply ingrained beliefs about money and worth. Let me share some of the most common reasons I see. Reason number one, we don't know our numbers.
• 11:33
  Most law firm owners have no idea what their average value per matter is. They may know what they think they are charging, but they don't know how many hours they're spending per case. They don't know their true costs. They're flying blind because they aren't adequately tracking the data. This is especially true of people who charge flat fees.
• 11:53
  And when you don't know your numbers, you can't make informed pricing decisions. You're just guessing. Or worse, you're copying what other attorneys charge without knowing whether those attorneys are profitable or not. Reason number two, we're afraid of losing clients. This is the big one.
• 12:11
  We're terrified that if we raise our rates, clients will go somewhere else. We'll lose business. We won't be able to pay our bills. But here's what happens when you raise your rates strategically. You lose some clients, the price shoppers, the difficult clients, the ones who were never going to be profitable anyway.
• 12:28
  And you attract better clients, clients who value your expertise and are willing to pay for it. And yes, you might handle fewer cases, but you'll earn more, experience less stress, and deliver better service. Reason number three, we have limiting beliefs about money. This is the one that runs deepest. Many of us grew up with money messages that are now sabotaging our businesses.
• 12:51
  Money is the root of all evil. Rich people are greedy. It's noble to struggle. Charging a lot means you're taking advantage of people. Good lawyers do it for justice, not money.
• 13:05
  These beliefs are insidious because they feel true, they feel moral, but they're keeping you broke and burned out. And here's the truth: charging appropriately for your services is not greedy. It's not taking advantage of people. It's valuing yourself and your expertise. It's ensuring you can stay in business long enough to help more people.
• 13:26
  It's modeling healthy boundaries and self worth for your team and your clients. Reason number four, we don't see ourselves as business owners. We see ourselves as lawyers who happen to own a business, and lawyers are trained to be service oriented, to put clients first, to work hard, and bill hours. But business owners think differently. Business owners understand profit margins and pricing strategy and market positioning.
• 13:53
  Business owners know that if the business isn't profitable, it can't serve anyone. Until you make that mental shift from lawyer to business owner, you'll continue to undercharge for your law firm services. Reason number five, we're not confident in our value. This is especially true for newer attorneys or those new to firm ownership. We think, Who am I to charge that much?
• 14:18
  I'm not experienced enough. I'm not good enough. Other attorneys are better than me. This even happens when we hire associates. We bill their time out for a lot less than our own because they are an associate.
• 14:31
  But here's what I want you to understand. Your clients aren't hiring you because you're the most experienced attorney in the world. They're hiring you because they believe your law firm, not you personally, can solve their problem in a timely manner. And that solution has value. If you can get someone custody of their children, that's priceless.
• 14:52
  If you can save someone's business, that's worth hundreds of thousands of dollars. If you can protect someone's legacy, your value isn't about how many years you've been practicing. It's about the outcome you deliver, what strategic pricing actually looks like. So now that we understand why pricing matters and why we undercharge, let's talk about what strategic pricing actually looks like. And I want to be clear, I'm not going to give you a step by step formula in this episode because strategic pricing is nuanced and depends on your practice area, your market, your positioning, and your business model.
• 15:30
  That's the kind of work we do inside the mastery program. But I do want to give you a framework for thinking about pricing strategically so you can start to see where you might be leaving money on the table. Element number one, know your numbers. Strategic pricing starts with data. You need to know your average value per matter, how many hours you're actually spending per case, what your true costs are, not just direct costs, but overhead, your time, opportunity costs, what your profit margin is, like what your utilization rate is.
• 16:03
  Without this data, you're just guessing, and guessing is expensive. One of the first things we do with Mastery Program members is a deep dive into their financials. We look at their profit and loss statements. We calculate their key metrics, and we identify exactly where money is being left on the table. And almost always, we discover that they are undercharging by 30% to 50% or more.
• 16:29
  Element two Understand Value Based Pricing Most attorneys price based on one of two methods: hourly billing or flat fees based on what they think the market will bear. But strategic pricing is based on value. What is the outcome worth to the client? If you're handling a divorce where there's $2,000,000 in assets at stake, your fee should reflect the value you're providing in protecting those assets. If you're handling a business transaction that will generate $500,000 in revenue for your client, your fee should reflect that value.
• 17:05
  This doesn't mean you gouge clients. It means you price in proportion to the value you're delivering. And here's what's interesting. When you price based on value, clients actually perceive you as more credible and more capable because you're positioning yourself as a strategic partner, not just a service provider. Element number three, create pricing tiers.
• 17:29
  Strategic pricing isn't one size fits all. You should have different service levels at different price points. Maybe you have a basic package for straightforward cases, a premium package for complex cases, and a VIP package for clients who want white glove service and direct access to you. This allows you to serve different types of clients while maximizing revenue,
• 17:53
  Intro: and
• 17:53
  Davina: it gives clients choice, which actually increases conversion rates. Element number four, building profit margin. This is the one that most attorneys miss. They calculate what a case will cost them in time and expenses, and they charge that amount, or maybe they add a small markup. But that's not strategic pricing.
• 18:13
  That's cost plus pricing. And it doesn't account for profit. Your pricing should include your direct costs, your time, your team's time, expenses, your overhead, rent, software, insurance, etcetera, your desired profit margin (typically 30% to 40% for a healthy law firm), a buffer for unexpected work or complications. When you build all of this into your pricing, you ensure that every case is actually profitable. Not just covering costs, but generating real profit that you can reinvest in growth or take home as owner compensation.
• 18:51
  Element five Communicate value, not just price. Strategic pricing isn't just about the number. It's about how you present that number. When you have a consultation with a potential client, you shouldn't just say, My fee is $15,000 You should paint a picture of the value they're receiving. And here's what we're gonna do for you.
• 19:12
  Here's the outcome we're gonna achieve. Here's how this is going to change your life. Here's what it would cost you if you don't handle this properly, and here's the investment to work with us. When you communicate value effectively, price becomes less of an objection because clients aren't buying your time. They're buying the outcome.
• 19:32
  Element number six, review and adjust regularly. Strategic pricing isn't set it and forget it. You should be reviewing your pricing at least annually, if not quarterly. Are your costs going up? Raise your rates.
• 19:45
  Is demand for your services increasing? Raise your rates. Are are you booked out for months? Raise your rates. Have you gained more experience and expertise?
• 19:54
  Raise your rates. Your pricing should evolve as your business evolves. And if you're not raising your rates regularly, you're falling behind. The ripple effect of strategic pricing. Now here's what I want you to understand.
• 20:07
  When you implement strategic pricing, it doesn't just affect your revenue. It creates a ripple effect throughout your entire business. Let me paint a picture of what this looks like. When you charge appropriately, you have more capital. With more capital, you can hire better team members.
• 20:25
  With better team members, you can delegate more work. With more delegation, you free up your time. With more time, you can work on your business instead of in it. With more strategic focus, you can build better systems. With better systems, your firm runs more smoothly.
• 20:43
  With a smoother operation, you can take on more cases or higher value cases. With more or higher value cases, your revenue increases. With increased revenue, you can invest in marketing. With better marketing, you attract better clients. With better clients, you have fewer headaches and more satisfaction.
• 21:01
  With more satisfaction, you have more energy. With more energy, you can be more creative and strategic. And the cycle continues. It all starts with pricing. On the flip side, when you underprice, you create a negative ripple effect.
• 21:16
  When you undercharge, you have less capital. With less capital, you can't hire help. Without help, you're doing everything yourself. When you're doing everything yourself, you're overwhelmed. When you're overwhelmed, you can't think strategically.
• 21:30
  When you can't think strategically, you don't build systems. Without systems, everything is chaotic. With chaos, you make mistakes. With mistakes, you have unhappy clients. With unhappy clients, you get bad reviews.
• 21:43
  With bad reviews, you have to lower your prices to compete. With lower prices, you have even less capital. And the cycle continues. It all starts with pricing. So when I say your pricing strategy could be costing you $250,000 or more, I'm not just talking about the direct revenue.
• 22:02
  I'm talking about all the opportunities you're missing because you don't have the capital, the time, the team, or the systems to pursue them. The mindset shift required. Now, I want to address something that I know is coming up for some of you as you listen to this. You're thinking, Devina, this all makes sense intellectually. I understand the math.
• 22:23
  I understand the logic. But I still feel uncomfortable charging more. And that's because pricing isn't just a business decision, it's a mindset issue. To implement strategic pricing, you have to believe certain things. You have to believe that you are worth it.
• 22:40
  You have to believe that your expertise has value. You have to believe that it's okay to be well compensated for your work. You have to believe that making money doesn't make you greedy or bad. You have to believe that you deserve to have a profitable business. Have to believe that charging appropriately is actually better for your clients because it allows you to deliver better service.
• 23:03
  And if you don't believe these things, if you have limiting beliefs about money or worth or success, then no pricing strategy in the world is going to work because you'll sabotage yourself. You'll discount your fees. You'll do extra work for free. You'll let clients negotiate you down. You'll feel guilty about your rates, and you'll end up right back where you started.
• 23:27
  This is why in the Mastery Program, we don't just work on strategy and systems, we work on mindset. Because your mindset is the foundation of everything else. We help you identify and release the limiting beliefs that are keeping you stuck. We help you develop the confidence to charge what you're worth. We help you shift from seeing yourself as a lawyer who owns a business to seeing yourself as a CEO who happens to practice law.
• 23:56
  Because that shift, that fundamental shift in how you see yourself and your role is what makes everything else possible. Real world examples. Let me share a few quick examples of clients who transform their businesses by fixing their pricing. Client number one, Sarah. Sarah is an estate planning attorney.
• 24:16
  When she came to us, she was charging $2,500 for a comprehensive estate plan. She was handling about 60 clients per year, bringing in 150,000 in revenue, but she was spending about fifteen to twenty hours per client when you factored in all the meetings, drafting revisions and follow-up. At $2,500 per client, that's about $125 to $165 per hour. And out of that, she had to pay all her expenses. We helped Sarah implement value based pricing and create service tiers.
• 24:53
  Her new pricing ranged from $5,000 for a basic estate plan to $15,000 for a comprehensive plan with ongoing updates and trust administration. She was terrified. She thought she'd lose all her clients. But here's what happened. She lost about 30% of her leads, the price shoppers who were never going to be good clients anyway.
• 25:14
  But she converted 70% at the higher rates. In her first year with the new pricing, she handled 45 clients instead of 60. But her revenue jumped to $360,000 That's more than double what she was making before, with 25% fewer clients. She used that extra revenue to hire an associate and a paralegal. Now she's on track to hit $750,000 this year, and she's working fewer hours than ever.
• 25:43
  Client number two Jennifer. Jennifer is a family law attorney. She was charging flat fees of $5,000 to $7,500 for divorces depending on complexity. But when we analyzed her cases, we discovered she was spending an average of eighty hours per case. At $7,500, that's less than $95 per hour.
• 26:06
  We helped Jennifer implement a hybrid pricing model with a higher upfront retainer and clear scope definitions. Her new pricing started at $15,000 for uncontested divorces and went up to $50,000 or more for high conflict, high asset cases. Again, she was terrified. She thought no one would hire her. But here's what happened.
• 26:28
  Her conversion rate actually went up because when she presented the value she was providing and positioned herself as a premium service, Clients perceived her as more credible and capable. In her first year with the new pricing, her revenue went from $280,000 to 6 and $20,000 She hired two associates and is now on track to break $1,000,000 this year. Client number three, Lisa. Lisa is a business attorney. She was charging hourly at $250 per hour, which sounds reasonable, right?
• 27:03
  But the problem was, she was fast and efficient. A contract that might take another attorney ten hours she could do in four hours. So she was actually penalizing herself for being good at her job. We helped Lisa shift to value based flat fees for her most common services. A contract review that used to bring in $1,000 four hours at $250 now has a flat fee of $2,500 Same work, same value to the client, but more than double the revenue.
• 27:33
  She also created a monthly retainer package for ongoing business clients at $5,000 per month. She has 10 clients on retainer, which gives her $50,000 in predictable monthly revenue before she even takes on any project work. Her revenue went from 3 and $20,000 to $780,000 in eighteen months. And she's working the same number of hours. She's just being compensated appropriately for the value she provides.
• 28:02
  The connection to scaling. Now, I want to connect this back to the bigger picture of scaling your law firm to 7 figures and beyond. Because here's what I see all the time. Attorneys who want to scale, who have big goals, who are working incredibly hard, but who can't get past $300,000 or $400,000 or $500,000 in revenue. And when we dig into their business, the bottleneck is almost always pricing.
• 28:31
  They're undercharging, which means they don't have the capital to hire the team they need. Without the team, they can't take on more work. Without taking on more work, they can't increase revenue. Without increased revenue, they can't afford to hire. And they're stuck in this loop.
• 28:47
  When you fix your pricing, you break the loop. Suddenly, you have capital. You can hire that associate. You can hire that experienced paralegal. You can invest in that marketing campaign.
• 28:58
  You can upgrade your software. You can build the systems you need. And with the team and systems in place, you can scale. You can go from $400,000 to $700,000 to $1,000,000 and beyond. Strategic pricing isn't just about making more money today.
• 29:14
  It's about creating the foundation for sustainable, scalable growth. This is why pricing is one of the first things we address in the Mastery program. Because if we don't get your pricing right, everything else is harder. But when we do get your pricing right, everything else becomes easier. What this means for you.
• 29:35
  So let me bring this back to you and your law firm. I want you to think about your current pricing, and I want you to ask yourself some honest questions. Do you know your average value per matter? Do you know how many hours you're actually spending per case? Do you know what your true profit margin is?
• 29:53
  Are you charging based on value or based on what you think clients can afford? Are you confident in your pricing, or do you feel uncomfortable talking about money? Are you attracting the quality of clients you want, or are you attracting price shoppers? Do you have the capital you need to invest in growth, or are you constantly worried about cash flow? Are you paying yourself what you deserve, or are you sacrificing your own compensation to keep the business afloat?
• 30:19
  If you're not happy with your answers to these questions, then you have a pricing problem. And that pricing problem is costing you not just in revenue, but in time, energy, opportunity, and quality of life. The good news is this is fixable. Strategic pricing isn't complicated. It just requires data, strategy, and the confidence to implement it.
• 30:41
  But here's what I want you to understand. You can't do this alone, not because you're not smart enough or capable enough, but because you're too close to it. You have blind spots. You have limiting beliefs. You have fears that are holding you back.
• 30:57
  You need someone who can look at your business objectively, who can analyze your numbers, who can help you see where you're leaving money on the table, and who can guide you through the process of implementing strategic pricing without sabotaging yourself? That's exactly what we do in the Wealthy Woman Lawyer Mastery Program. Introducing the solution. In the Mastery Program, pricing strategy is one of the core components we address. And we don't just give you a formula and send you on your way.
• 31:26
  We walk you through the entire process. We start with a deep dive into your financials. We calculate your key metrics. We identify exactly where you're undercharging and by how much. Then we work with you to develop a strategic pricing structure that's based on value, that positions you appropriately in the market, that attracts the right clients, and that ensures every case is profitable.
• 31:50
  We help you create pricing tiers, develop your value communication, and build the confidence to present your fees without apologizing or discounting. And here's what makes the Mastery program different. We don't just teach you the strategy. We help you implement it. We have expert financial advisors who work exclusively with law firms.
• 32:11
  They'll review your profit and loss statements, identify profit levers and hidden leaks, and help you optimize your fee structure to maximize revenue. We have coaching calls where you can get real time support as you implement your new pricing. You can role play your consultation conversations. You can work through your fears and limiting beliefs. You can get feedback and guidance every step of the way.
• 32:34
  We have a community of other women law firm owners who are going through the same process. You can share your wins, your challenges, and your questions. You can learn from each other's experiences. Then we have implementation events where we actually do the work together. We don't just talk about creating a fee structure.
• 32:53
  We sit down and create it. We don't just discuss value communication. We write your scripts and practice them. Because information without implementation is just entertainment, and you don't need more information. You need support, accountability, and guidance to actually make the changes that will transform your business.
• 33:13
  That's what the Mastery Program provides, the investment in yourself. Now, I know some of you are thinking, This sounds great, Devina, but I can't afford to invest in a program right now. I need to fix my revenue first, and then I can invest in support. And I want to lovingly challenge that thinking because that's backwards. You don't fix your revenue and then invest in support.
• 33:38
  You invest in support, and that's what fixes your revenue. Think about it this way. If your pricing is costing you $250,000 or more, and you could fix that in the next ninety days with the right guidance, what is that worth to you? If you could increase your revenue by $200,000 in the next year just by implementing strategic pricing, would investing in the support to make that happen be worth it? Of course it would.
• 34:05
  The attorneys who are most successful in the Mastery Program are the ones who understand that investing in yourself and your business isn't a cost, it's leverage. It's the difference between spending another year spinning your wheels, working sixty hour weeks, and staying stuck at the same revenue level, or making the changes that will transform your business and your life, your next step. So here's what I want you to do. If you're listening to this and you're thinking, Yes, I need to fix my pricing. Yes, I'm probably leaving money on the table.
• 34:36
  Yes, I want to scale to 7 figures. And yes, I need support to make this happen. Then I want you to book a call with me or a member of my team. Go to wealthywomanlawyer.com and click on Apply Now. You'll fill out a brief application, and then you'll be able to schedule a call.
• 34:52
  On that call, we're going to talk about where you are right now in your law firm growth journey. We're gonna talk about your revenue, your goals, your challenges, and your vision for your firm. We're gonna look at your numbers or help you figure out what numbers you need to be tracking if you don't have them yet. And we're going to identify exactly where you're leaving money on the table and what it's costing you. Then we'll talk about whether the Mastery program is the right fit for you.
• 35:20
  We'll answer all your questions about the program, the investment, the timeline, and what you can expect. There's no pressure, no hard sell, just a real honest conversation about your business and how we can help you achieve your goals. But I want to be transparent with you. Spots in the Mastery Program are limited. We only accept a certain number of members at a time because we want to ensure everyone gets the personalized attention and support they deserve.
• 35:50
  And these spots fill up quickly, especially at the beginning of the quarter when law firm owners are most motivated to make changes. So if you're serious about this, if you're ready to stop leaving money on the table, if you're ready to build a 7 figure law firm that supports your life instead of consuming it, don't wait. Book your call today at wealthywomanlawyer.com. Final thoughts. Before we wrap up, I want to leave you with this.
• 36:17
  You are worth more than you're charging. Your expertise has value. Your time has value. The outcomes you deliver for your clients have value. And when you charge appropriately for that value, you're not being greedy.
• 36:31
  You're not taking advantage of people. You're running a sustainable business that can serve more people, employ more people, and create more impact. You're also modeling for other women, for your daughters, for your team members, for other women attorneys that it's okay to be well compensated for your work, that it's okay to be successful, that it's okay to be wealthy. Because when women have wealth, we change the world. We invest in our families.
• 36:56
  We support our communities. We create opportunities for others. We use our resources for good. So fixing your pricing isn't just about you. It's about everyone you'll be able to help when you have the resources to do so.
• 37:10
  I hope this episode has given you a new perspective on pricing and why it matters so much to your firm's success. If you found value in this episode, I would be so grateful if you'd leave a review on Apple Podcasts or wherever you're listening. It really does help other women law firm owners find this show and get the support they need. Remember, go to wealthywomanlawyer.com to book your call and learn more about the mastery program. Thank you so much for spending this time with me today.
• 37:39
  I'm cheering for you. I believe in you, and I can't wait to see what you build when you start charging what you're worth. Until next time, here's to your success, your growth, and your transformation from underpriced and overwhelmed to profitable and powerful. I'll see you next week.
• 37:57
  Intro: If you're ready to create more of what you truly desire in your business and your life, then you'll want to visit us at wealthywomanlawyer.com to learn more about how we help our clients create wealth generating law firms with ease.