March 5, 2010 Nº 878 - Vol. 8
"Want is one only of five giants on the road of reconstruction; the others are Disease, Ignorance, Squalor, and Idleness."
William Beveridge
1879-1963
In today's Law Firm Marketing, Value/price equation drives hiring decision, client loyalty
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Obama urges Congress to vote on healthcare
Obama has urged Congress to vote by simple majority on healthcare reform, as he makes a final push to have his proposals adopted. He said Congress should "finish its work" and vote on the legislation in the next few weeks. Healthcare has been a priority for Obama but the legislation has been blocked by the Republican minority.
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MiMIC Journal
China slows rise in military spending
China has said its military spending will increase by 7.5% in 2010, ending a long run of double-digit growth.
China 'must reduce rich-poor gap'
Chinese Premier Wen Jiabao has said China must reverse its widening income gap between rich and poor. He said benefits of a growing economy - expected to expand by 8% this year - should be distributed more fairly. In a major speech at the start of China's annual parliamentary session, the premier also said the economy needed restructuring.
Google says China's web censorship is a 'trade issue'
Google says state censorship in countries like China should be put on the United States' trade agenda. Nicole Wong from Google told the Senate Judiciary Committee that web censorship could favor local companies. The US is considering to raise China's censorship with the World Trade Organization.
Value/price equation drives hiring decision, client loyalty
by Trey Ryder
How much can you charge your clients?
You probably know lawyers who charge a fortune for their services and their clients happily pay it. At the same time, you probably know lawyers who have to fight for every dollar they earn.
What is the difference between these lawyers?
Often, it comes down to the value/price equation, which says:
Prospects will hire your services -- and clients will continue to use your services -- as long as they believe that the value they receive from you is (1) greater than the price they pay, and (2) greater than the value they would receive from another lawyer for the same fee. In most cases, unless both of these conditions are met, you'll lose clients.
How much prospects and clients value your services is the direct result of how well you provide things they believe are important. For example, how do you rate yourself in the following areas?
(1) Knowledge, skill and experience. The more you have, the higher your value.
(2) Self confidence. The more confident you appear, the better your clients feel and the more peace of mind they enjoy.
(3) Responsiveness. How quickly you return clients' phone calls. How quickly you finish clients' work. How quickly clients can see you in your office or talk with you on the telephone. The shorter the time, the higher your value.
(4) Understanding and communication. How well your clients understand what you tell him. How well and how often you communicate with clients about their cases. The better the communication, the higher your value.
(5) Reputation The better your reputation, the more your clients value working with you.
(6) Results. The better the results you achieve for clients, the higher your value.
(7) Relationship. How much clients depend on you. How much clients feel they can trust you. How long you and your clients have worked together. The stronger your client relationships, the greater your value.
(8) Your reception area. A pleasing appearance adds value. A dingy or drab look detracts from value. New magazines neatly arranged, a plus. Old magazines thrown in a pile, a minus.
(9) Greeting. A friendly, warm, caring reception is a plus. Cold or impersonal, a minus.
(10) Access. If your clients get in to see you quickly, a plus. The longer they wait in the reception area, the lower your value.
(11) Office location. The closer it is to clients, the more value they perceive. However, if clients never come to your office, this may have no effect on your value.
(12) Parking lot. When parking spaces are easily available, that's more value for your clients. If your clients have trouble parking, that's less value.
This is just the beginning. Everything in your relationship either adds to or subtracts from the value your clients perceive. Whether it's good service, peace of mind, or sports tickets, everything counts.
The one element that does not increase or decrease value is your fee. Your fee is your client's gauge against which he measures your value. Regardless of whether your fee is high or low, the fee itself does not add to or subtract from your value.
If you have a low fee, it may be a competitive advantage if other lawyers have higher fees. But if higher-priced attorneys also offer their clients more value, then you're comparing apples and oranges because what the client receives is not the same.
I had a friend who passed away a few years ago. He was a prominent tax attorney in Phoenix. Just after I graduated college, our paths crossed and he invited me to breakfast. From that day forward, I felt bonded to this man because he always treated me as if I were the most important person in the world.
Obviously, I was not in this man's target audience. I was just a kid fresh out of college. But for the 23 years I knew him, I told people about my friend and mentor. I reinforced other people's perception of his value.
This lawyer went to great lengths to add value to his services. The moment I pulled into his parking lot, I knew he would take good care of me because he provided covered parking spaces for his clients. (In the summer heat in Phoenix, covered spaces have a high perceived value.)
And the spaces weren't off in some far corner of the lot. They were the very first spaces outside the building's entrance. I knew this man had power and influence or he wouldn't have been able to get those spaces for his clients.
What's more, when I entered his reception area, he served soft drinks in glass tumblers. (You would never find a pop can in this man's office. He wouldn't stand for it.) And ice cubes? Only the hard-frozen kind that were crystal clear. The spotlights in his reception area reflected off the ice cubes like sparkling diamonds in a jeweler's showcase.
What did this man charge? The standing joke was that he charged twice what any other lawyer would dare charge. But his clients loved to pay their bills because they believed they had the top tax lawyer in town and he treated them like royalty.
You can do a lot to increase your value to clients. The first things clients notice are speed and accessibility. The quicker clients get in to see you, the quicker you complete their work, the quicker you return phone calls -- all add value to your services.
Review the 12 points above and identify where you can increase your value. Remember, not all clients perceive value the same way. One client may appreciate a quick response. To another, speed might not matter. One client may like your covered parking spaces. But to the client who doesn't come to your office, parking is not important.
If you want to make improvements in your value, ask clients what improvements they would value most. Or poll your most important clients to see what value they would like you to add.
Client loyalty is the result of value delivered over time. The more value you provide, and the longer you provide it, the more client loyalty you'll enjoy. For years. For decades. For life.
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© Trey Ryder
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Autos japoneses
El gobierno de México importará hasta 36 mil 171 vehículos japoneses libres de arancel entre abril de 2010 y marzo de 2011. La medida que es parte de un acuerdo entre ambos países fue publicada en el Diario Oficial de la Federación.
Reservas
Un conflicto de poderes vive Argentina. El Gobierno de Argentina pagará deuda pública con reservas del Banco Central pese a un bloqueo de la justicia, dijo el jueves la presidenta Cristina Fernández, en un desafío al Poder Judicial y al Congreso que puso al país al borde de un choque institucional.
Cemex - arbitraje
Un tribunal internacional de arbitraje dependiente del Banco Mundial rechazó medidas cautelares solicitadas por la cementera mexicana Cemex, ante la nacionalización de sus activos en Venezuela.
Gay marriage law comes into effect in Mexico City
A law allowing gay and lesbian couples to marry comes into effect on Thursday in Mexico City. The law, which was passed by the city's local assembly in December, gives gay people full marital rights, including the right to adopt. Several gay couples are now expected to register to get married as early as next week. Mexico City is one of the first capitals in Latin America to fully recognize gay marriages.
Yukos case against Russia begins at European court
The European Court of Human Rights (ECHR) has begun hearing a complaint from collapsed Russian oil company Yukos against the Russian government. Yukos first faced allegations of tax fraud in 2002 and was ultimately liquidated in 2007. But the firm claims that it was "targeted" by the Russian authorities and illegally driven out of business. Yukos representatives first filed the claim with the ECHR in 2004. They are seeking $98bn in compensation.
Plan to change war crimes law delayed by general election
Changes in the law to remove the threat of foreign politicians becoming victims of "politically motivated" war crime arrests every time they visit Britain have been postponed until after the general election. The UK justice secretary, Jack Straw, said the decision to delay immediate legislation had been taken because the government recognized it was a controversial issue that involved the long-standing right of private prosecution.
Turkish anger at US Armenian 'genocide' vote
Turkey has reacted angrily to a US congressional panel's resolution describing as genocide the killings of Armenians in World War I. PM Recep Tayyip Erdogan said his country had been accused of a crime it did not commit, adding the resolution would harm Turkish-US relations. Ankara has recalled its ambassador to Washington for consultations and says it is considering other responses. The White House had urged against the vote as it could impede reconciliation. The government of Turkey, a key American ally and fellow Nato member, had also lobbied hard for the American Congress not to vote on the issue.
Brazil rebuffs US pressure for Iran sanctions
Brazil will not bow to pressure from the US to support further sanctions against Iran over its nuclear work, Celso Amorim told US Secretary of State Hillary Clinton. Brazil wants to see further negotiations on the issue before it would support sanctions. Clinton said that sanctions had to be passed first in order to persuade Iran to "negotiate in good faith".
State law offers dignified death
The State Health Department of Washington State released the statistics for the first 10 months of Washington state's Death with Dignity Act this Thursday. Sixty-three terminally ill patients have filed for the lethal medication with at least 36 actually taking the drugs to escape their diseases. Physician-assisted suicide, despite what critics say, is ethical. Being terminally ill and faced with months of agony while your body slowly shuts down reduces the human condition to its most vulnerable and undignified state. Knowing you have control over how your life ends would be a very comforting feeling. This law allows people to be masters of their own fate. For a patient to be eligible for physician-assisted suicide, a physician and a consult must both diagnose the patient as terminally ill with only six months to live. In addition, the patient must have two witnesses, one of which cannot be related to the person, cannot be entitled to any portion of the patient's estate and cannot be associated with the health care facility where the patient is staying. These witnesses, by signing their names, agree the patient is of sound mind. By requiring that one of the two witnesses is someone who does not gain anything from the sick person's demise, the state ensures the patient is not being pushed into death for the wrong reasons.
US urges 'action' needed to fight net attacks
Homeland Security secretary Janet Napolitano has admitted there is an urgent need to step up efforts to protect Americans from cyber attacks. The secretary made an appeal to security professionals and industry leaders at RSA to go the extra mile to increase security and improve their products so that security is automatic and the reaction to attacks can happen at internet speed.
US lifts lid on top secret plan for internet security
The White House has declassified parts of a top secret plan outlining how government will protect the nation's computer networks from cyber warfare. There are 12 parts to the CNCI, including cyber counterintelligence and deterrence strategies. The aim of the programme is threefold: (1) to establish a front line of defence against today's immediate threats, (2) to defend against the full spectrum of threats, (3) to strengthen the future cybersecurity environment. The move is aimed at encouraging greater co-operation between academia, government and the private sector.
Anheuser-Busch InBev sees profits rise
Anheuser-Busch InBev, the world's largest brewer, made a $1.28bn (£850m) profit in the last quarter of 2009. That was significantly higher than the $29m profit it made in the last three months of 2008 when it faced high costs linked to InBev's takeover of Anheuser. The group, whose brands include Stella Artois and Becks said the integration was now "essentially complete". The brewer has made a series of cost cuts to cope with falling beer sales in the global downturn.
Vivendi French investors can't claim damages on NY verdict, company says
Vivendi SA's French investors shouldn't be able to claim damages from a U.S. class-action verdict, the company's lawyers told a Paris court.
US Senate ends impasse to keep jobless benefits flowing
The US Senate has passed stopgap legislation to keep benefits flowing for the long-term jobless and provide funding for road building projects. The 78 to 19 vote came after Republican Senator Jim Bunning, who blocked the move for days, dropped his objections amid pressure from his own party.
China vows to tackle social divide
Al Jazeera, Doha, Qatar
Libya Demands US Apology for Switzerland "Jihad" Criticism
Asharq Al-Awsat, Pan-Arab daily, London, England
Man stabs Filipina in Dubai's Wafi Mall
Gulf News, Independent daily, Dubai, United Arab Emirates
Turkey recalls ambassador from Washington
Haaretz, Liberal daily, Tel Aviv, Israel
MIDEAST: Occupation Turns Palestinian Women Into Breadwinners
IPS Middle East, International cooperative of journalists, Rome, Italy
Iraqis living abroad begin casting ballots
JPost, Conservative, Jerusalem, Israel
Dubai gets greener by 27 million plants in 2009
Khaleej Times, English-language daily, Dubai, United Arab Emirates
Amman Stock Exchange, March 4th
Middle East North African Network, Online financial portal, Amman, Jordan
63 Killed in Indian Temple Stampede
Nahamet, Online news portal, Beirut, Lebanon
Panel formed on Lebanon poll law
Saudi Gazette, English-language daily, Riyadh, Saudi Arabia
Iran threatens to withdraw nuclear counter-offer
The Daily Star, Independent daily, Beirut, Lebanon
UN council ready to tackle Iran nuclear issue
Times of Oman, English-language daily, Muscat, Oman
Brown set to give Iraq evidence
BBC News, Centrist newscaster, London, England
Ferguson puts Scotland future on hold
BreakingNews.ie, Online news portal, Cork, Ireland
James Bulger killer ?breached ban to watch Everton and get drunk in clubs'
Daily Express, Conservative tabloid, London, England
Yet another GBP 250,000 new identity for James Bulger murderer
Daily Mail, Conservative daily, London, England
UK launches new body for universal broadband push
DMeurope, Online news portal, Amsterdam, Netherlands
DIPLOMACY: US-Turkey relations at risk after 'genocide' vote, says Erdogan
France 24, Issy-les-Moulineaux, France
Lives of Lydians told through artifacts
Hurriyet Daily News, (Liberal, English-language), Istanbul, Turkey
Jessica Stam: Aldo's New Poster Girl
Look Magazine, London, England
Family tribute to motorbike rider killed in west Cumbria crash
News & Star, Independent daily, Carlisle, England
The Rundown - March 5
Radio Free Europe, Prague, Czech Republic
PM To Face Claims Of MoD Cuts At Iraq Inquiry
Sky News, Independent newscaster, Middlesex, England
Terror Trial: Germany Ends Biggest Case Since RAF
Spiegel International, Liberal newsmagazine, Hamburg, Germany
Lord Ashcroft faces new claims of tax avoidance
The Guardian, Liberal daily, London, England
British boy's kidnap could be 'sort of inside job'
The Independent, London, England
Six killed in Pakistan blast
The Irish Times, Centrist daily, Dublin, Ireland
Strasbourg Hears $98Bln Yukos Case
The Moscow Times, Independent daily, Moscow, Russia
German Islamist fanatics jailed for planning 'second September 11'
The Telegraph, Conservative daily, London, England
Celebrities attend safe motherhood event
The Telegraph, London, England
Hundreds stranded as ships become stuck in Baltic Sea ice
Times Online, Conservative daily, London, England
Democrats yet to take stance on coalition
Antara News, News agency, Jakarta, Indonesia
U.S. official reiterates one-China policy in Beijing
China Post, English-language daily, Taipei, Taiwan
10th Seoul International Financial Forum Kicks Off
Chosun Ilbo, Conservative daily, Seoul, South Korea
Usman Farooqui cleared in PSM misappropriation case
Dawn, English-language daily, Karachi, Pakistan
Nazarbayev congratulated women of Kazakhstan on International Women's Day
Gazeta.kz, Official online newspaper, Kazakhstan
Holbrooke regrets comments on Kabul attack
India Express, News portal, Mumbai, India
Huge fire breaks out in Kolkata slum
India Times, Conservative daily, New Delhi, India
Moools 'Weather Sketch Modified'
Japan Times, Independent centrist, Tokyo, Japan
Five gifted teenagers to attend camp in the US
Malaysian Star, Online news portal, Selangor Darul Ehsan, Malaysia
Humans to blame for climate change - scientists
New Zealand Herald, Conservative daily, Auckland, New Zealand
Chilean gov't asks public to give way to aid delivery
People's Daily Online, English-language, Beijing, China
Two killed in Pakistan blast
Sify News, Chennai, India
Nose-to-nose stare-down
Sydney Morning Herald, Centrist daily, Sydney, Australia
China wants 7.5 pct jump in defense spending
Taiwan News, Taipei, Taiwan
Hu seeks KMT backing in Taichung race
Taiwan Today, Taipei, Taiwan
Ashley Cole ‘vows to win back Cheryl'
Thaindian News, Bangkok, Thailand
Centre keen on pushing through women's Bill
The Hindu, Left-leaning daily, Chennai, India
ECONOMIC BOON - Antigua and Barbuda shares in Australian $60 million
Antigua Sun Online, Independent daily, St. John's, Antigua
Steady budget offers few surprises
Canadian Broadcasting Centre, Toronto, Ontario
Butterfield gets $550 million boost
Cayman Net News, Online news portal, George Town, Cayman Islands
Dominican Republic resort allegedly gave Rangel the land for villa
Dominican Today, Independent daily, Santo Domingo, Dominican Republic
LATIN AMERICA: Subdued Response to Cuban Dissident's Death
IPS Latin America, International cooperative of journalists, Rome, Italy
'Not good enough'
Jamaica Gleaner, Independent daily, Kingston, Jamaica
Chile's Falabella Group to maintain its investments in Peru
Living in Peru, News portal, Lima, Peru
Logging plan's delay puts species at risk: study
The Globe and Mail, Centrist daily, Toronto, Canada
?Imbert dodges questions on Guanapo church
Trinidad Guardian, Independent daily, Port-of-Spain, Trinidad
'Irregularities' in Togo election
BBC News, Centrist newscaster, London, England
UN, DR Congo discussing end to peacekeeping mission
CongoPlanet.com, Independent online news aggregator
NALAG should fulfil development aspirations of the people- Mr Aidoo Mensah
GhanaWeb, Online news portal, Amsterdam, Netherlands
Cops hunt abducted UK boy
iafrica, Online news portal, Cape Town, South Africa
Shaik's shrink shady, report claims
Independent Online, News portal, Cape Town, South Africa
Ruling party bars opposition in Gambella region of Ethiopia
Jimma Times, Online news portal, Jimma, Ethiopia
Coming home bearing gifts
Mail & Guardian Online, Liberal, Johannesburg, South Africa
World Cup: Govt warns airlines
News24.com, Online news portal, Cape Town, South Africa
Bukola assures international community of sustained democracy
Vanguard, Independent daily, Lagos, Nigeria
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