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High Impact Fee Negotiation and Management for Professionals by Ori Wiener

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Raising the institutional game

      06

Most if not almost all of our professionals have an idea of the fees but not the profit a particular instruction should generate. (EUROPEAN CLIENT, 2012)

Consider the following additional comments received:

        Many of our professionals and those working for our competitors give discounts first and only think about the effects on profit second.

        If we could only get our fee earners to increase their recovery by £/€/$5 per hour our profitability and their take-home pay would increase by 12 per cent.

        Too many of our partners think nothing of authorizing €10,000 or £20,000 write-offs in relation to their projects. The impact on our finances is devastating.

        We end up discounting ...

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