How Can Your Senior Partners Rates Create Opportunities For Your Junior Partners

Developing the Next Generation of Rainmakers How Can Your Senior Partners’ Rates Create Opportunities for Your Junior Partners? I wonder if law firms are really focused on ways to market junior partners. I thought of this recently when I was reviewing Yes!: 50 Scientifically Proven Ways to Be Persuasive. The 7th scientifically proven way was titled: “How can a new superior product mean more sales of an inferior one?” The authors describe that Williams-Sonoma started offering a bread-making machine that was far superior to a best-selling bread maker that they stocked. Yet, when they added this new product to their inventory, sales of their existing best-seller nearly doubled. Why? Put simply, consumers favor compromise choices between the most and least expensive. Don’t you do that when you pick a hotel room? I rarely if ever pick the most expensive room or pick the least expensive room. Clients are trying to reduce outside legal fees in our current economy. While in the past they may have wanted your senior partner. Today, one of your more junior partners may fill the bill just fine. If it is a bet the company transaction or litigation, your clients will go for the senior partner. But, if it is not bet the company your junior partners hourly rate will be more attractive. I practiced law for 37 years developing a national construction law practice representing some of the top highway and transportation construction contractors in the US.