Thought leadership is not about repurposing others’ material but constantly producing our own. This enables us to test new concepts, challenge the status quo and constantly seek to improve upon processes and methods. That’s why publishing relevant, actionable content is vitally important to us. We produce an award-winning pricing blog and provide our subscribers with quality, curated content from around the globe. We are regularly commissioned to produce articles for the profession’s pre-eminent publications including Managing Partner, Global Lawyer, Commonwealth Law Journal, The Times (London) and the Pricing Journal.

“My focus at Managing Partner magazine is to deliver high-quality content which pushes management thinking and best practice forward in law firms. I have worked with Richard Burcher since 2013 to develop thought leadership content on pricing strategies and I look forward to continuing to do so.” - Manju Manglani, Editor, Managing Partner

Pavlovian Pricing & Meritocracy Structures

Most of us are familiar with Pavlov’s classical conditioning experiments. It is therefore obvious to most that the best way to get the behaviour you want is to provide rewards for doing so, or at least refrain from punishing people for doing them. The flip side is that you have to make sure you’re not inadvertently providing rewards for behaviors you’re trying to discourage.

July 20, 2015

The Vital Role of Pricing in Law Firm Marketing & BD Efforts

The classical definition of the 4 Ps relates of course to the categories that can be controlled in the marketing of a good or service: product, price, place and promotion. The four Ps, often referred to as the marketing mix, are all constrained by internal and external factors in the overall environment.

July 14, 2015

Opinion: Judicial Cop-out: Just Blame The Lawyers Fees

Yet another recent media report left me feeling for colleagues who are continually attacked by the politicians, the media and the public for apparently outrageous and indefensible fees charged by lawyers. This egregious behaviour is only exacerbated in the minds of many when the poor recipients of the nasty lawyers financial flogging are people going through an acrimonious divorce.

And now the judiciary, who ought to know better, have joined the chorus.

July 13, 2015

The Power of Irrational Pricing

When presented with a range of pricing choices, are client’s more likely to make a rational or irrational decision? In recent years behavioural economists have generally supported the concept of ‘homoeconomicus”; buyers characterised as powerful, calculating decision-makers who base their decisions on rational, objective and consistent preferences.

June 25, 2015

Pricing Power: The Dark Art

Pricing in law firms began, and to a shocking degree still continues, as an exercise in sticking your finger in the wind combined with intensive (but plausibly deniable!) efforts to find out what they're doing down the block, finalized by Kentucky windage in the form of a percentage increase over your rates last year. Low-tech, impressionistic and intuitive, data-free, and almost certain to be random in its accuracy in correlating clients' perception of value with marketplace dynamics. Or, as one managing partner we're fond of described it: "The dark art."

May 13, 2015

Some Promising Developments on DBAs

Amidst the welter of 2013 reforms, the legitimisation of contingency fees stood out. For centuries we had been told that a lawyer could not run litigation in return for a cut of the damages recovered. This would invite corruption, as the representative would have an overwhelming...

Pricing execution April 24, 2015

Richard Susskind Manifestly & Demonstrably Wrong on Pricing

Everyone is entitled to their opinion; indeed part of the Validatum® philosophy is to encourage and embrace diverse perspectives in our online forums and other media. However, sometimes we see something so egregiously wrong and potentially harmful...

Pricing governance April 18, 2015

Pricing v Billing: Just Semantics?

I still recall the (somewhat tongue in cheek) advice I had from the senior partner of the firm I was with in the early 80s. “When you send out a big bill, I mean an eye-watering bill, send it out on a Friday and don’t come to work on Monday – let someone else take the call from the client”. Cynical? Yes, but...

Pricing governance March 08, 2015

Pricing: Men Are From Mars…

The latest research from Acritas’ Sharplegal, an annual global legal market survey of over 2,000 General Counsel, reveals how differently male and female buyers approach the purchase of legal services. As the number of women attaining senior in-house positions continues to rise, the findings raise...

Pricing execution February 24, 2015

Fees - Are Clients Part of the Problem or Part of the Solution?

Ask any private-practice lawyer and they will tell you that clients frequently aggravate their costs through their own conduct. The result is costs that are higher than they could have been, a disgruntled client and almost inevitably, some sort of write-off...

Legacy Posts January 31, 2015

Law firms and procurement : Creating a level playing field

More and more law firms have acquired additional pricing and price negotiation skills or brought in external pricing professionals to participate in the negotiation process. They have also become considerably more rigorous about whether to throw their hat in the ring...

Legacy Posts January 25, 2015

So, You're Going To Nail This Pricing Business in 2015?

We hope that the following synopsis of some of the most popular and widely republished of our 2014 law firm pricing blogs will provide you with some inspiration and guidance as you perhaps ponder what your firms' approach to pricing will be over the next 12 months....

Legacy Posts December 04, 2014

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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®

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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®

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