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Knowledge Buyers

Nickels and dimesIn-house counsel, executives, business owners: How do you talk about value to your lawyers, accountants, ad agencies, and consultants? How do you get them to commit to prices before they do the work? How do you keep from getting taken advantage of?

Outside law firms and other professional vendors are the ones who should be leading the discussion away from hourly billing and toward advanced pricing. But lawyers, accountants, and other professionals are often reluctant to change. On the other hand, clients like you — buyers of professional knowledge — are working under severe budget pressures and can’t wait around for your firms to reinvent their business models.

So what can you do? Write up new outside-firm guidelines restricting how many associates can go to a deposition? Invest in electronic-invoicing systems? These are only Band-Aids for the more-serious problem of making sure you’re getting real value.

Learn how to approach your outside professionals and have a frank, open discussion about how you need to start getting value for your money. Prefix can help you and your outside vendors find the solutions to this serious problem. Call Jay at 617.213.0067 or email him at jay@prefixllc.com to start finding the answers.