Value Based Pricing for Law Firms - Principles, Implementation & More

Introduction

Aimed at law firm leaders and department heads, this interactive seminar will explore the principles of value-based pricing (VBP) in the legal sector and examine the benefits that this can bring to clients, law firms and, most importantly, lawyers.

VBP expert and former law firm CEO Shaun Jardine will share his experience of ditching the billable hour five years ago and explain why change needs to be led from the top down. He will also share real-life examples of firms who have successfully implemented VBP.

This is a highly interactive seminar during which you will participate in group exercises to create and finesse a value-based pricing project implementation plan, including fixed price agreements with pricing options to give clients choice.

On completion of this seminar, you will understand the tasks involved when conducting a change management project in respect of VBP, and you will receive access to a RACI Task List which shows how VBP can be implemented in your firm.

What You Will Learn

This course will cover the following:

• What do clients want when they buy?
• What do clients want to buy from lawyers… and do lawyers know?
• How do you price now?
• What is value?
• Common myths
• The characteristics of successful law firms
• The benefits and challenges
• How to implement a VBP change management plan project
• A high-level outline of the ‘Eight P Point Plan™’ - a methodology of implementing value-based pricing in a law firm