Value Does Not Equal Cost

Lawyers who struggle with pricing their services (and I think that includes all lawyers) should check out this post on the Loud Thinking blog:

The inability to price at value instead of cost is what separates nice (or niche) businesses from great businesses, what fizzles good ideas, and what turns would-be entrepreneurs into "starved artists".

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This is naturally what attracts me to simple problems. What's the least amount of work I can do that ends up having big value? Before I've cleared all the simple problems of high value, it's just not for me to engage in solving hard problems. Too much risk, not enough ratio.

And remember this: “value” is measured from the customer’s/client’s perspective, not yours.