Source of article 2's Company - Magnus Insights.
This post is prompted by a comment made by someone with whom we frequently work in our litigation consulting business. He remarked how he hoped clients would recognize the value of our work, and his work, and see it as an investment, not just another litigation expense or cost. As I explained to someone yesterday, someone who called to inquire about a “focus group,” I know the services we offer are expensive. There is no doubt about that, even though we know we are not as expensive as some of our competitors. (Nor are we as inexpensive as others. But this part of the discussion is beyond this post.) The point is, in business, when one is promoting a service or product, such as when a lawsuit is litigated, the costs incurred in doing so can be thought of as either expenses or investments in the case outcome. We at Magnus believe that our trial consulting costs should fall into the “investment” category. We believe this because we are often told how a minor detail that emerged from our engagement, during research, witness preparation, or jury selection, made a huge difference in the outcome of the case. We are also aware that there are times when major findings emerge to give direction to the case. But, the point is, time and time again, we know that the money spent on our engagement creates an outcome better than what was expected by the client. We’ve seen this for plaintiffs who have obtained higher verdicts or settlements than they initially anticipated. And, we’ve seen it for defendants, whose results were better than they thought even if they didn’t get a total defense verdict. Yes, what we do is a cost of litigation, but as we discussed with our colleague, it is a cost that almost always yields tremendous returns on the investment. Communicating this to new clients is a bit challenging, but it keeps us going when clients come to understand it.