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Take an Expert’s Advice on Price

by Carolyn Elefant on June 16, 2006 · 4 comments

in Business Models, Setting and Collecting Fees

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I may be a solo who runs an established blog for other solos.  I’m an expert on my own practice and what works for me.  But I’m the first to admit that what works for me may not be optimal for others.  So if you want to get a broader perspective on matters like pricing and value billing, go over to Allison Shields’ Legal Ease and see what she has to say about value billing and pricing.  In particular, I enjoyed Shields’ piece on value billing because it addressed both sides and wasn’t the typical “rah, rah” type of article that instigated my initial post.

  • http://www.TheBillableHour.com Lisa Solomon

    You can find a an exhaustive list of links to books; studies and reports; newspaper and magazine articles; blog entries; and podcasts discussing the billable hour and related subjects such as client service and value billing at http://www.TheBillableHour.com/resources.php.
    The collection spans more than a decade of thought in this area, from a 1993 article that appeared in Law Practice Management magazine to the present.
    And, of course, we will definitely be adding Allison’s posts to the list.

  • http://www.TheBillableHour.com Lisa Solomon

    You can find a an exhaustive list of links to books; studies and reports; newspaper and magazine articles; blog entries; and podcasts discussing the billable hour and related subjects such as client service and value billing at http://www.TheBillableHour.com/resources.php.
    The collection spans more than a decade of thought in this area, from a 1993 article that appeared in Law Practice Management magazine to the present.
    And, of course, we will definitely be adding Allison’s posts to the list.

  • http://www.HowToMakeItRain.com RJON@HowToMakeItRain.com

    The difference between a flat fee or value-based fee vs. an hourly fee is the difference between the client with limited experience having to budget the case vs. the lawyer who, presumably, has much more experience, taking responsibility for budgeting the case.
    When presented after a Proper Sales Call in which you & the client establish a clear understanding of the value of the matter you are dealing with, and with a clear explanation of how you arrived at the fee, the vast majority of clients prefer & appreciate flat fees – when’s the last time you went to a restaurant or a doctor’s office, or a shopping mall & prices were based on how long it took to cook your food/cure your disease/sew your clothing? (Rhetorical question – you get the point.)
    This is an excerpt from a recent e-zine article entitled “Help With Fees…PLEASE!!!”

  • http://www.HowToMakeItRain.com RJON@HowToMakeItRain.com

    The difference between a flat fee or value-based fee vs. an hourly fee is the difference between the client with limited experience having to budget the case vs. the lawyer who, presumably, has much more experience, taking responsibility for budgeting the case.
    When presented after a Proper Sales Call in which you & the client establish a clear understanding of the value of the matter you are dealing with, and with a clear explanation of how you arrived at the fee, the vast majority of clients prefer & appreciate flat fees – when’s the last time you went to a restaurant or a doctor’s office, or a shopping mall & prices were based on how long it took to cook your food/cure your disease/sew your clothing? (Rhetorical question – you get the point.)
    This is an excerpt from a recent e-zine article entitled “Help With Fees…PLEASE!!!”

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