Lawyers, CPAs, consultants, ad people: How do you set your prices without losing money? How do you make sure you get paid what you’re worth? How do you switch from the 1919 billable-hour model to a modern solution-based pricing model?
You want to learn how advanced pricing can help your firm better serve its clients. Increasingly, clients are saying that they’re tired of the billable-hour model, and you’ve been listening.
You also suspect that pricing is an important way to differentiate your firm and its offerings. You wonder if moving away from an outdated business model will create a competitive advantage for your firm over its competition.
But firms of all sizes around the country have struggled to implement advanced pricing. (Calling it “alternative billing” is just one sign of that struggle.) Bar associations and other groups offer two-day seminars featuring a bewildering array of so-called “alternative fee arrangements” that leave professionals shaking their heads at the complexity. Your firm doesn’t have the time to reinvent the wheel on its own.
The goal is to learn how to more effectively price your firm’s knowledge. But as with all new things, there are kinks to work out and questions to answer. How do we avoid driving down to the bottom in pricing while trying to land the business? How do we encourage partners to focus on profitable revenue instead of just bulk revenue? If we defocus the time spent on work, how do we incentivize and compensate associates and staff? And most importantly, how do we actually set our prices?
Prefix can help you answer these questions. Jay Shepherd’s practical experience in advanced legal pricing enables Prefix to help your firm determine its ideal pricing strategy that increases profitability while reducing risk.
Call Jay at 617.213.0067 or email him at firstname.lastname@example.org to start finding the answers.