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.