Ditch The Billable Hour! Implementing Value-Based Pricing in a Law Firm
Is the billable hour on its way out? Does any client like paying for legal services by the hour?
With generative artificial intelligence soon to create tidal waves in the legal industry – helping lawyers to create legal documents in mere seconds – the time-honoured billable hour is under threat more than ever. But what is the alternative?
In Ditch The Billable Hour!, Shaun Jardine explains how lawyers should move away from time as the driving element of pricing, and focus on the results that clients want to achieve. In doing so, he shows why legal firms need to adopt Value-Based Pricing (VBP), and how to do so.
Ditch The Billable Hour! is the extensive and practical new book, from a former law firm CEO, that is filled with real-world expertise, advice, and perspectives, and which digs deep into all aspects of VBP for the legal industry.
In the book, you will discover
> What clients truly value.
> How to have conversations to establish the value that lawyers create.
> How to price and capture a share of that value.
> How to create pricing options which give clients choice.
> How to lead and implement the change to make Value-Based Pricing a reality.
> Includes more than 20 interviews with lawyers and other professionals who have views on VBP.
> Includes additional learning resources, hints, tips, and practical exercises, plus a RACI checklist.
Any lawyer concerned about their future and the legitimacy and viability of the billable hour should read this book.
The billable hour’s iceberg is melting.
Book Review
Shaun Jardine has done the impossible: created a comprehensive, engaging and practical resource on law firm pricing. Ditch The Billable Hour! has a fun, conversational style that weaves together cartoons, side bars, practical scenarios, law firm research, expert commentary and, of course, 8PPP Penguin Logic, all of which make it a pleasure to read. More legal services books need to be written in this style! Jardine has created more than just a guide; it’s an interactive, multi-media learning experience – an indispensable tool for legal professionals seeking to implement value-based pricing.
– Mitchell Kowalski, Visiting Professor in Legal Innovation, Lawyer, and Author of, The Great Legal Reformation: Notes from the Field and Avoiding Extinction: Reimagining Legal Services for the 21st Century
About the author: Shaun Jardine is a solicitor (now non-practising) and former CEO of a top 250 law firm, Shaun has a unique insight into what makes law firms tick.
Shaun founded his consultancy business – Big Yellow Penguin – in 2021 with the aim of encouraging and helping lawyers and law firms to move on from the 20th century and adopt practices, including value-based pricing, to make their futures more secure, both financially and operationally, and enjoy practising their craft again.
Ditch The Billable Hour! is due in January 2024 | 978-1-914066-44-3 | Paperback 410 pages | £49.99
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