During this episode, Jeffrey and Patrick explain why the best legal problem is the one you never have. They share their experience as customer and attorney, and then colleagues helping Fortune 1000 companies create a culture of risk prevention.
In this episode, Patrick Lamb and I discuss his experience implementing value pricing at his law firm, and then consulting with other firms. Next, we explore the state of the business of law from the Value Line Adjustment to the Great Reset of 2008.
Peter Carayiannis started his legal career with a national law firm in Canada. Later, while working as a solo attorney, he discovered his niche, general business counsel to corporations. Peter then founded Conduit Law, which has become Deloitte Conduit Law, an affiliate of Deloitte. Among his unique qualifications, he is licensed to practice law in the United States and Canada. Switching to […]
Dan Simmons is the Managing Director of the Lantern Legal Group, and Andrew Barnes is the Chief Financial Officer. The company is the largest regional law firm in Australia. Andrew is also President of the Australasian Legal Management Practice Association (ALMPA). This interview was recorded during a trip to the United States with John Chisholm. We […]
As a profession, lawyers may be the most resistant to value pricing due to their conservative nature. However, this is the very reason Michael Bradley from Marque Lawyers considers it a strategic advantage. The outcome for the customer is the first priority. If Marque cannot create value for the customer, they will not engage simply to make money.
For over a decade, Chris Marston has been paying his team based on the value they create for the law firm. Each employee can choose how to serve a customer in an engagement from five different roles. The contribution of the role, the lifecycle of the project and the importance of the customer to the firm determine the compensation paid. His “value” model aligns how the company prices customers to how it compensates the team.
Beth MacLean founded Timeless Legal Network to help lawyers increase their revenue. A former corporate and private practice attorney, she has created two products for this purpose. Timeless Roadmap helps identify new opportunities with small business customers. Timeless Advantage teaches attorneys how to price based on the value to the customer instead of the hours recorded.
In 2012, David Wells led Moores, a 40-lawyer practice, through a transition from hourly billing to value pricing. From his experience, he learned value pricing is more than a way to determine what to charge a customer. It is a business model, a philosophy, and a way of thinking. David shares how the new model changed the customers, employees, processes, and systems at Moores for the better.
John Chisholm helps law firms move from hourly billing to value pricing. A 25-year lawyer turned business consultant, he says the problem with the cost of legal services is not the amount. It is the unpredictability. Customers prefer the experience of and will pay more for price certainty. John shares how this single change can inspire a spirit of innovation and entrepreneurship in lawyers.
Matthew Burgess is a lawyer who lost a customer when he sent an email at 4:30am on a Sunday. The customer said he wanted Matthew’s best work not what remained after exhaustion. This incident started Matthew’s quest to find a better way. For the last ten years, he has practicing value pricing at his own firm, View Legal. He shares why the switch is a journey instead of a destination.