Bigger. Better. Both?
30 August, 2015
Ides of Maturity reflected in State of Legal Market Report
In March 2014 my colleague George Beaton posted The Ides of Maturity for professional services firms marks a modern-day turning point, an article based on his keynote address to the 2014 Client Choice Awards. George’s view of the future has recently been reinforced by a report on the state of the Australian legal market. This […]
20 July, 2015
Pavlovian Pricing & Meritocracy Structures
Most of us are familiar with Pavlov’s classical conditioning experiments. It is therefore obvious to most that the best way to get the behaviour you want is to provide rewards for doing so, or at least refrain from punishing people for doing them. The flip side is that you have to make sure you’re not […]
13 July, 2015
Why clients of BigLaw firms value cost consciousness
Research by Beaton continues to show why clients of BigLaw firms value cost consciousness. If you understand what cost conscious really means to clients, this may not surprise you. But, did you also know that being well rated on cost consciousness by clients allows a firm to exercise price-setting discretion? In other words, you can raise your price – […]
7 July, 2015
Pricing and analytics: Houston, we have a problem!
The refrain; “If you don’t know where you’re going, any road will take you there”, is essentially a paraphrase of an exchange between Alice and the Cheshire Cat in Lewis Carroll’s ‘Alice in Wonderland’. Unfortunately, there are some strong parallels between Alice’s aimless wanderings and the approach that many firms apply to the pricing function. […]
3 June, 2015
Four reasons why pricing legal services is not black or white
There at least four reasons why pricing legal services is not black or white. Like brewing coffee, there’s art and science involved in pricing legal services. Richard Burcher, the world’s leading authority on pricing legal services, will be in Australia to lead beatonlive‘s conference The Last Frontier: Profitable Pricing for Law Firms on 6 August 2015 in Sydney.
11 May, 2015
Pricing v Billing: Just Semantics?
I still recall the (somewhat tongue in cheek) advice I had from the senior partner of the firm I was with in the early 80s… “When you send out a big bill, I mean an eye-watering bill, send it out on a Friday and don’t come to work on Monday – let someone else take […]
12 February, 2015
The Power of No
Warren Riddell. Accounting. Consulting engineering. Engineering. Law. Management consulting. Other professional services. Pricing and Procurement. Strategy
“The difference between successful people and very successful people…..” so wrote Warren Buffett. His answer (below) provides a lesson in pricing, strategy and differentiation for professional services firms. “The difference between successful people and very successful people is that very successful people say ‘no’ to almost everything.” How many professional services firms can say they […]
19 June, 2013
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