Back to overview

Browsing articles filed under Legacy Posts

Barristers & Pricing: ‘My Clerk Handles Such Matters’

The independent Bar has perhaps been slower than other parts of the profession to adapt to evolving pricing trends. Yet, therein lies a valuable opportunity for innovative and inventive chambers to ‘steal a march’ on their more orthodox colleagues.

Legacy Posts June 17, 2012

Pricing and the Need to Rethink Reporting Metrics

Even firms that recognise the need to substantially evolve their pricing attitudes and practices are unwittingly sabotaging those efforts through a failure to reconfigure their internal reporting dashboard to drive different behavior from fee earners.

Legacy Posts June 13, 2012

In-house Counsels’ 5 Pricing Requirements for Law Firms

The relationship between in-house counsel and their external law firms is multifaceted and complex; no aspect of the relationship more so than the pricing element. Here are General Counsels' views on their expectations of law firms on pricing.....

Legacy Posts May 25, 2012

Price Negotiation - Why Would You Bring a Pocket Knife to a Gun Fight?

There is an inescapable irony in the fact that lawyers spend their entire legal career successfully advocating and negotiating on behalf of our clients, yet most are only moderately effective when it comes to negotiating their own fee.

Legacy Posts May 18, 2012

Pricing and The Pavlovian Response

Pricing is customarily seen only in terms of a means to impact turnover and in so doing increase profit. However, confining pricing to this one-dimensional view overlooks other equally valuable strategic uses to which the pricing ‘lever’ can be applied.

Legacy Posts May 07, 2012

Finance Directors - Pricing Messiah or Handbrake?

In contrast with their traditional after-the-event reporting function, law firm and chambers finance directors have an opportunity to reinvent themselves, and materially impact their organisations’ fortunes by facilitating pricing innovation.

Legacy Posts April 29, 2012

Attention General Counsel: Pricing Is A Team Sport, Not A Solo Event

A common refrain from law firms is that in-house lawyers talk about AFAs and value based billing but aren't really interested in concepts such as sharing risk; it's about getting the law firm to do the same work for less cost.

Legacy Posts April 18, 2012

Should We Charge For Paperclips?

It has long been customary for law firms to include a variety of sundry charges at the end of the bill. However, whilst the practice generates additional gross revenue and profit, this may be outweighed by the negative effects on client perception.

Legacy Posts April 10, 2012

Legal Procurement – Ready, Fire, Point (aka RFP!)

Many GCs and law firms find the way that Requests For Proposal (RFPs) and their like are currently run is seriously flawed; often combative, adversarial and destructive of professional relationships. There may be a better way.

Legacy Posts April 06, 2012

Lawyers Can Learn From Shampoo Pricing

I have often made reference to the fact that when it comes to pricing, we lawyers could do worse than take inspiration from the often far more sophisticated pricing strategies of other industries and professions.

Legacy Posts April 06, 2012

No Price Objections? You Aren't Charging Enough

Most lawyers make the mistake of interpreting price objections as problematic and potentially damaging to profits and reputation. However, the absence of price objections is actually indicative of a poor pricing strategy.

Legacy Posts April 06, 2012

8 Steps to Profitable Fixed Fees

The inexorable move towards fixed fee arrangements has tended to be driven by clients motivated by dissatisfaction with and distrust of the hourly rate regime coupled with a desire for greater cost certainty and manageability.

Legacy Posts April 06, 2012

You have successfully signed up to our Newsletter

There was an error and you were not signed up to the Newsletter

https://www.virtualpricingdirector.com/

The coming together of these 3 power-house firms has enabled us to create something truly revolutionary. I have no doubt that Virtual Pricing Director® is going to drastically alter, for the good, the way lawyers price-up work” Richard Burcher, Managing Director, Validatum®, Chairman, Virtual Pricing Director® & Legal Pricing Academy®

Website
http://www.legalpricingacademy.com/

Whether you are just starting out on your pricing career or are already highly experienced, whether you want to undertake some ‘light-touch’ professional development or aspire to the pinnacle of Certified Legal Pricing Professional, the Legal Pricing Academy® can help you achieve your goals” Richard Burcher, Managing Director, Validatum®, Chairman, Virtual Pricing Director® & Legal Pricing Academy®

Website