Ditch The Billable Hour! Implementing Value-Based Pricing in a Law Firm
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Is the billable hour on its way out? Does any client like paying for legal services by the hour? With generative artificial intelligence soon to create tidal waves in the legal industry - helping lawyers to create legal documents in mere seconds - the time-honoured billable hour is under threat more than ever. But what is the alternative? In Ditch The Billable Hour!, Shaun Jardine explains how lawyers should move away from time as the driving element of pricing, and focus on the results that clients want to achieve. In doing so, he shows why legal firms need to adopt Value-Based Pricing (VBP),...
Is the billable hour on its way out? Does any client like paying for legal services by the hour? With generative artificial intelligence soon to create tidal waves in the legal industry - helping lawyers to create legal documents in mere seconds - the time-honoured billable hour is under threat more than ever. But what is the alternative? In Ditch The Billable Hour!, Shaun Jardine explains how lawyers should move away from time as the driving element of pricing, and focus on the results that clients want to achieve. In doing so, he shows why legal firms need to adopt Value-Based Pricing (VBP), and how to do so. Ditch The Billable Hour! is the extensive and practical new book, from a former law firm CEO, that is filled with real-world expertise, advice, and perspectives, and which digs deep into all aspects of VBP for the legal industry. In the book, you will discover:What clients truly value. How to have conversations to establish the value that lawyers create. How to price and capture a share of that value. How to create pricing options which give clients choice. How to lead and implement the change to make Value-Based Pricing a reality. Includes more than 20 interviews with lawyers and other professionals who have views on VBP. Includes additional learning resources, hints, tips, and practical exercises, plus a RACI checklist. Any lawyer concerned about their future and the legitimacy and viability of the billable hour should read this book. The billable hour's iceberg is melting. About the author: Shaun Jardine is a solicitor (now non-practising) and former CEO of a top 250 law firm, Shaun has a unique insight into what makes law firms tick. Note: This book was originally published in the United Kingdom
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