Inadvisable to Charge Least Expensive Rates in Town

Timothy J. Storm says that charging the least expensive rate in one's market is one of the biggest business mistakes a lawyer can make. See "The Five Biggest Mistakes Lawyers Make" by Helen W. Gunnarsson in the September 2011 issue of the Illinois Bar Journal (as cited by Debra Cassens Weiss in "Why It's a Mistake to be the Cheapest Lawyer in Town" at www.abajournal.com). Deeply discounted rates disincentivize the lawyer and cause the client to lose confidence that the original rate or the discount were uninflated.