Pricing of legal work, if undertaken correctly, is a skill. As has been noted by the High Court, the pricing of legal services is "…an exercise in assessment, an exercise in balanced judgement, not an arithmetical calculation".
Moreover, some partners are less confident than others in 'selling' the value of their services to clients. Some have developed poor pricing and billing habits, perhaps the most prevalent of which arises with those partners who so dislike the whole business of pricing and billing that they procrastinate, leaving the billing of files for months or even years, resulting in poor cash flow for the firm and very high levels of right off.
However, like any skill, pricing and the billing process is capable of being taught and learnt.
A number of firms have engaged Richard Burcher to provide intensive one on one mentoring of those partners around their cost pricing and billing practices. In all cases, this has resulted in very significant improvement to that partner's profitability, the dissipation of partnership tensions around that partner's performance and frequently, a significant improvement in the particular partner's view of legal practice generally.
Email us in confidence for further information about this service.
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