Find Mediators Near You:

Make Money Mediating Podcast 507: What Are You Worth? Understanding Pricing for Dispute Resolution Professionals


Navigating Your Worth: Setting Prices as a Dispute Resolution Professional

In this episode of the Make Money Mediating podcast, host Susan Guthrie provides an in-depth guide on how dispute resolution professionals can set their fees. She emphasizes the importance of constantly reevaluating one’s pricing strategy and dives into various factors and considerations that impact fee setting. These factors include one’s services list, experience, market demand, geographic location, client base, operational costs, and competition. Susan discusses different pricing models such as hourly rates, flat fees, modified flat fees, retainer models, subscription-based models, and packaged services. She highlights the significance of choosing a pricing model that reflects the true value of a professional’s expertise and fosters long-term client relationships built on trust, value, and mutual respect. Susan encourages professionals to be open to adjusting their pricing models as their practices evolve.

In this episode:

00:00 Introduction to Pricing Strategies in Mediation
00:37 Understanding the Importance of Pricing
01:06 Developing a Comprehensive Pricing Strategy
01:38 Expanding Your Service Offerings
03:43 Factors to Consider When Setting Your Fees
06:49 Understanding Your Market and Client Base
09:00 The Impact of Geographic Location on Pricing
13:11 The Importance of Understanding Your Costs
15:15 Considering Your Competition
16:52 Understanding the Value You Provide
19:21 Exploring Different Pricing Models
20:07 The Pros and Cons of Hourly Billing
23:13 The Appeal of Flat Fees and Modified Flat Fees
28:58 The Potential of Subscription-Based Fee Models
32:04 The Benefits of Offering Packages
33:04 Conclusion: The Importance of Reflecting Your True Value

author

Susan Guthrie

Susan Guthrie, nationally recognized as one of the Top Family Law and Mediation Attorneys in the country, has been helping individuals and families navigate separation and divorce for more than 30 years. Susan provides legal coaching services to select clients around the world.   Susan recently partnered with legal and mediation legend, Forrest… MORE

Featured Members

ad
View all

Read these next

Category

Can Your Beliefs About Someone Alter Their Behavior?

If you believe someone is aggressive, could they behave more aggressively with you than with others? If someone believes you are a hostile person, are you likely to act more...

By Tammy Lenski
Category

We Need Science Diplomacy!

Consensus Building Approach by Larry SusskindMy colleague, Professor Paul Berkman, has launched a Science Diplomacy Center at Tufts University. This is a campus-wide initiative coordinated through the Fletcher School of...

By Larry Susskind
Category

Divorce Mediation: More Mainstream But Less Pure

Institute for the Study of Conflict Transformation by Dan SimonChanges Since 1998 I started mediating full-time in 1998. Back then people I met were intrigued by the idea of mediation...

By Dan Simon
×