Price is more than a number. It is part of how a lawyer communicates value to the customer. To unpack this principle, Jay Shepherd, an employment litigation attorney, compares how a customer perceives an hourly rate vs. a fixed price. He says knowledge instead of activity is more valuable to the customer. Value pricing enables the customer to purchase what he wants in a manner he truly enjoys. Hourly Billing in the Legal Profession What is the most important thing you can share about … [Read more...]
The History of the Billable Hour with Jon Lax – 006
Most professionals (accountant, lawyers, designers, developers) charge by the hour because that is how it has always been done. Jon Lax has done the research to explain why. In the early 1900s, an attorney at Boston Legal Aide asked MIT for assistance managing a backlog of cases. The result was the creation of the billable hour for professional services. Jon says it is a playbook designed for the wrong era. … [Read more...]