“If we were running real businesses, we would be identifying future leaders in their 20s and 30s and fast-tracking them – whereas in most law firms people first have to prove themselves as a lawyer, and earn high fees, and…

Most firms now recognise that pricing strategy and execution requires considerably more focus and effort than has historically been the case. But as with any initiative, the starting point should be a critical appraisal of how we are doing currently.…

Using illustrative examples, this article explains three key ratios that banks use to assess the profitability of their law firm clients Some firms are doing well; however most firms in Scotland have seen relatively flat profits over the last four…

  “I am sick and tired of asking my external law firms for a garden shed and getting a bloody office tower and a bill to match!” So opined [verbatim] a very frustrated FTSE 100 GC in a casual conversation…

Interview with Thought Leader and expert on pricing Richard Burcher, Managing Director of Validatum (first published on Legal Business World) Richard, can you tell us a little bit more about your background and how you became a specialist on pricing? …

There are three core messages in this blog;

• Alternative fee arrangements that are not solely dependent on the clock running can be more profitable than traditional hourly billing.
• Offering AFAs proactively is invariably more profitable in contrast to arrangements offered

When working with partners to assist them on a specific pricing proposal, all too often the conversation goes something like this; “So what levels of resourcing will be required for this and how long do you think it’ll take?” “Well,…

We lawyers detest talking about our fees with our clients. We have worked with over 300 law firms in 18 countries and if there is one common denominator, it is a shared perspective that the price conversation is the most…

In this article, Simon and Ian Berry examine the concept of ‘value’ and illustrate how, by understanding and establishing value and implementing strategies to price and deliver it, firms can secure a competitive edge and increase their bottom line. All…

The past two years have been good for most law firms in the United Kingdom and New Zealand with both profitability and cash flow improving. While there are significant issues, especially around staff retention and attraction, and also succession planning,…