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
Dear client, inflation last year was 2.7%.....
Unfortunately, we still see many firms approach to this limited to not much more than a standard letter that begins "Dear client, we hope you are well. As you know, inflation last year was 2.7%...”
Who is Responsible for Profitability in Your Firm?
It's not who you might think...?
Client Pricing Preferences: Dissimulation or Mendacity?
Okay, perhaps that’s a little rough, suggesting that clients deliberately conceal their real wishes or are plain dishonest about them, but maybe a fairer description would be mercurial – ‘tending to change mood suddenly’ according to the Concise OED.
Pricing Transformation - Step #8 – Anchoring New Approaches in Culture
While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago. So, we have decided to provide firms with a roadmap which will greatly increase the prospect of durable and sustainable improvements.
Pricing Transformation - Step #7 - Consolidating Gains
While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago. So, we have decided to provide firms with a roadmap which will greatly increase the prospect of durable and sustainable improvements.
Pricing Transformation - Step #6 - Generating Short Term Wins
While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago.
Pricing Transformation - Step #5 – Empowering Your People for Broad-based Action
While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago. So, we have decided to provide firms with a roadmap which will greatly increase the prospect of durable and sustainable improvements.
Pricing Transformation - Step #4 – Communicating the Change Vision
While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago. So, we have decided to provide firms with a roadmap which will greatly increase the prospect of durable and sustainable improvements.
Pricing Transformation - Step #3 - Developing a Vision & Strategy
While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago.
Pricing Transformation - Step #2: Creating a Guiding Coalition
While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the most disappointing and frustrating examples, they have eventually reverted to type entirely, losing all of the gains originally achieved.
There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago.
Pricing Transformation - Step #1 - Establishing a Sense of Urgency
While many law firms have over the last few years begun pricing improvement initiatives, many have failed to realise their potential and in the least successful examples, they have eventually reverted to type entirely, losing all of the gains originally achieved. There is good reason for that. It’s hard. The rewards are significant but if it was easy, everyone would have done it a long time ago.
Emergency Pricing
If I never hear the word ‘unprecedented’ again, it will be too soon, but there is undoubtedly no play book for what we are experiencing. We have had numerous requests from client firms and non-client firms alike for guidance on how to approach pricing in the current environment. We hope that the following will if nothing else, provide some structure to law firm’s consideration of the issues.
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