It’s often a change in pricing model that kick-starts law firm’s journey to doing law differently. What starts with a change in the way services are priced leads to a snowball effect of all sorts of other business changes.
As Steven Brown shares with me this week, Lynn & Brown are one law firm who have experienced just this. Lynn & Brown’s vision is to be the team that transforms the way people experience law. Part of that is the firm’s pricing model, but, as you’ll hear, the experience of law is about much more than just price.
One thing I love about this interview is Steven’s honesty about his anxiety over implementing such a big change in his business. We often talk about these kinds of changes like they’re easy, but, like I always say, implementation is the hard bit!
Here are the highlights:
1:55 The transition from timed billing to fixed pricing
4:02 Lessons learned from test cases priced on a fixed basis
4:33 Backing yourself when it comes to setting the price right
5:48 Assessing profitability of fixed price services
6:31 Efficiency vs effectiveness
6:55 Who decides the price?
11:17 Offering tiers for different service levels
14:24 “What does the end of this project look like for you?”
16:48 Flow on effects from implementing fixed pricing
19:04 Team based KPIs and rewards
20:48 Steven’s advice – “You just have to do it.”
22:03 Encouraging innovation in the team
- Find Lynn & Brown on their website, Facebook and LinkedIn
- Connect with Steven on LinkedIn
- Ron Baker – Implementing Value Pricing
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- Discover how I can help you escape the billable hour, eliminate the grunt work and do more of the work you love with productised services
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