BUSINESS PLANNING

Question 1

How should fees be set out

Answer 1

FEES should not be fixed and avoid fee-cutting
fees should always be market-based.
Fees can be negotiated once submitted.
The proposed level of service can vary but not the quality of work
Never undercut
State all referral fees in the EA- EQUALITY ACT 2010

Question 2

What should the terms of engagement state?

Answer 2

Clients agree to propose a fee basis.
Payment of expenses
Complaints handling procedure should be available on request.

Question 3

3 steps to follow on a new instruction

Answer 3

1. Ensure you are competent
2. Carry out conflict check
3. Confirm terms of engagement and get it approved before starting

Question 4

What regulation should all fee proposals be up against?

Answer 4

Consumer Rights Act 1979

Question 5

When should you decline an instruction?

Answer 5

1. if you’re not competent
2. not enough facts on the matter.
3. A PII cap cannot be agreed
4. The client will not sign the EA
5. IF the work is pro bono and insurance won’t cover.

Or the client is on the UK sanctions List.

Question 6

What would be considered as business planning ?

Answer 6

marketing-
SWOT analysis
type of company IE is it LTD or LLP

Question 7

When have you used KPIs

Answer 7

Using Salesforce to see work in hand - when works are completed and if completed on time.