Working Smarter, Not Harder - Improving Profitability & Performance in Legal Practice

Introduction

In an ever-changing and unpredictable world, financial pressures affect everyone, both in their personal and work life. The legal profession and professional services generally have their own unique set of circumstances, with lawyers being among the oldest of regulated communities. This long history, combined with lawyers being so consumed in their ‘day job’ and a belief that the business of law is ‘cast in stone’, means that change is often slow - sustained by the assumption that working ever harder is the route to greater success.

This virtual classroom seminar will take delegates through a change of mindset, ranging from a reminder of the golden skills needed for proper time recording and billing, through to documenting arrangements with the client, and understanding how we can truly work ‘smarter, not harder’, by adopting value pricing in our work. Also covered will be some key project management strategies and an insight into the benefits of process improvement.

By attending this session, delegates will see that there is much ‘low hanging fruit’ that can make a huge difference to our day-to-day working life and improve the quality of what we are doing for both our clients and ourselves.

What You Will Learn

This live and interactive course will cover the following:

• How to examine your hourly rates and ensure you are maximising their potential
• Time recording 101 - straightforward tips for success
• Why it’s wrong to compete on price and how to value yourself
• What we do wrong in getting write-offs and how to avoid this
• How to document your arrangements with the client, capturing the agreed scope, assumptions and exclusions, the basis of charging and the required costs information, so you head off fee disputes and write-offs before they arise
• How to present pricing proposals and costs information, so that even in a complex matter, it can be understood by clients
• The concept of value pricing, how this can be embraced as a cultural change for the business, with substantial benefits in turnover and profitability
• Why pricing choice is everything
• How AI is reshaping the pricing conversation, and why moving from the billable hour towards value-based pricing is becoming essential to staying competitive
• Planning your work effectively, using some simple project management skills, so that you comply with the SRA’s competence statement D and simply make matter management more successful
• How process improvement can make operations and workflow repeatable and resilient, building in quality
• Key soft skills for harmony in the workplace

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.