What a $310 Men’s Haircut Can Teach You About Your Law Practice

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Famous blogger Derek Halpern of SocialTriggers.com had a $310 haircut and he made a video to tell us all of the things he learned about selling high-priced services…

And they are directly applicable to your law practice.

In my most recent training on how you can transform your law practice into one you and your clients love, I said “you have to create an experience”. Derek’s video shows you exactly what I mean in a context that is outside of a law practice, which may make it even easier for you to understand and apply.

Some of my most important lessons in growing my law practice to more than a million dollars a year came from other types of service business owners, like doctors and dentists, auto repair shop owners and even carpet cleaners. I applied the smart things they did to my practice, and it was a hit.

So think about this… A $310 men’s haircut is 30 times the price of a regular SuperCuts haircut and 10 times the price of a regular barber shop or salon…

What if you could create an experience that commanded fees 10-30x higher than your local competitors? How about even just double?

So, let’s look at how you can do it:

1. A Name That Doesn’t Suck

The hair stylist who charges $310 for a haircut doesn’t call his salon a “barber shop” or even a salon. He calls it a Hair Studio.

Why does he do that and how does it relate to my teaching on why you must stop giving free initial consultations?

Watch the webinar from our last training (register for access here) to find out. [Then leave a note in the comments (below) and you could win a copy of the Client Engagement System for yourself.]

2. Be an Advisor, Not a Monkey With a Mousepad

In the video, Derek talks about how the hair stylist had a vision for his hair and wasn’t afraid to share that vision. Are you making strategic recommendations to your clients or just taking orders for what they tell you they need?

You need to become a trusted advisor to your clients… someone they turn to for recommendations, not just an order-taker who does what your clients say… or a salesperson looking to close the sale. When you become the trusted advisor your life changes, and so does theirs.

That’s when you begin to really love your law practice.

3. Make Your Customers Feel Different

Everything about the experience Derek had felt luxurious and different. You have to watch the video to hear how. It’s really funny, actually. And it confirms exactly what I just taught in the last training I offered on how to engage more clients.

So, how can you upgrade your service and make your customers feel different today?

If you’ve seen the pictures of my office in our Client Engagement System (scroll down to see it), you have a sense of what’s possible. What are you doing to give your prospects and clients a true experience?

4. Be Great

It really does help if you are awesome. And that takes study and practice. It’s why we created the Estate Planning Bootcamp, for one. We found that a lot of lawyers, even those in practice for years, weren’t being great at the practice of estate planning. They were being just mediocre… just okay. And that doesn’t (and never will!) give you the confidence to command higher fees, nor instill in your clients the desire to pay them.

Derek did miss one major point though… About what really set this $310 haircut experience apart and set the stylist up for repeat customers and a truly profitable business.

You see, the HARDEST and MOST EXPENSIVE part of any business is acquiring the customer and making the first sale. Most service providers stop there. And it’s a shame because the profit is really made on how you get your customer to come back for future sales.

The stylist in Derek’s story did something very smart…

Did you catch it? And do you know how you can apply it to your practice?

Next week, I’ll break it all down for you in detail and give you some ideas of how you can bust through your own profit ceiling in your practice by getting your clients coming back for more. {Here’s one quick way — if you serve parents, join us tomorrow to learn how to name legal guardians for the parents you serve (even if what you do for them is not estate planning) and bring in additional revenue serving clients you already have.}

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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