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PAID ATTENTION
“I don’t dance, I don’t sing. / I don’t bring home anything.” “But I used to,” the client in the illustration admits, adding a line of prose to his epigraphic verse. He’s a middle-aged poetaster, a decade divorced but only recently laid off. The shrink in the picture is a decade younger and as new to the game as her client is. He continues his well rehearsed why-am-I-here speech: “I’ve failed…
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Is It Fair To Charge Different Clients Different Rates?
Leaving aside the whole issue of whether or nor the billable hour is the best way to charge clients, do you think it is fair to charge different client different rates for the same work? This article by Jordan Rothman on abovethelaw.com would suggest the answer to that question is – ‘yes’. And I actually don’t disagree with Jordan’s outcome, but do disagree with his thinking of why. After all,…
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ICYMI – Weekly Digest 343
In case you missed it, Issue 343 of my Weekly Digest of all things going on in #legal #strategy #pricing #vbp #CRM #clients #customers #innovation was sent to subscribers earlier today. Check it out here. Let me know if you want to subscribe. As usual comments are my own. rws_01
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ICYMI – Weekly Digest 342
In case you missed it, Issue 342 of my Weekly Digest of all things going on in #legal #strategy #pricing #vbp #CRM #clients #customers #innovation was sent to subscribers earlier today. Check it out here. Let me know if you want to subscribe. As usual comments are my own. rws_01
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hmmm...
Two articles with vastly different headlines: ‘As Law Firms Push Aggressive Rate Increases, Clients Have Room to Negotiate‘ by Andrew Maloney in the American Lawyer, and ‘Almost half of US lawyers see no rate increases in 2022, Wolters Kluwer report shows‘ by Ben Edwards* in The Global Legal Post In the first article: the mean rate increase across law firm segments last year was around…
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ICYMI – Weekly Digest 340
Issue 340 of my Weekly Digest of all things going on in #legal #strategy #pricing #vbp #CRM #clients #customers #innovation was sent to subscribers earlier today. Check it out here. Let me know if you want to subscribe. As usual comments are my own. rws_01
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Do you know what your firm's Average Selling Price is?
Do you know what your firm’s Average Selling Price is?
At Kmart they know that the average selling price of a product is around $7 – as random as that may sound, knowing data like that is gold. Why? Well in law firm world, if you want to: win an ego contest, tell everyone what your hourly rack-rate is; stay in business, know what your, and your team’s, Average Realised Rate. Because your costs calculated against a rack-rate is monopoly money –…
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Quote of the Week (21.10.2022)
Quote of the Week (21.10.2022)
Indeed, most law departments rate their legal spend management sophistication as middle of the road, which means that most law departments continue to rely on general billing guidelines and discounts as their primary cost-control measures. 2022 Legal Department Operations Index – by Legal Value Network and Thomson Reuters
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