Posted In: Pricing Strategy, Profitability, Uncategorized
How to Think About Your Pricing Potential
Pricing is a vital topic today. And firms are often surprised when told that their current pricing approach costs them multiple millions of
LawVision INSIGHTS Blog
Archive for Pricing Strategy Category
Posted In: Law Firm Resilience, Pricing Strategy, Profitability, Uncategorized
Making the Right Moves in a Year of Uncertainty
Recent legal industry reports[1] (i.e., the Citi Advisory and Georgetown Report) have highlighted financial performance for law firms in 2022, which presented law
Posted In: Pricing Strategy, Profitability
Fiscal 2023 Rate Strategies Series: Big Miss #3 – Wide Rate Dispersion with Bonus: Thoughts on Fiscal 2023 Rates
Today’s blog is the last installment of a three-part series on Big Pricing Misses1. Pricing is one of your strongest drivers of profitability.
Posted In: Pricing Strategy, Profitability, Strategic Planning, Uncategorized
Fiscal 2023 Rate Strategies Series: Big Miss #2 – The Perils of Rate Stagnation (Flat Rates)
Today’s blog is part two of a three-part series on Big Pricing Misses[1]. Last week, I described the current precarious law firm rate-setting
Posted In: Pricing Strategy, Profitability, Uncategorized
Fiscal 2023 Rate Strategies Series: Big Miss #1 – Unnecessary Discounting
As we look to close out 2022, it has never been more important to execute your pricing strategy well. The competitive market for
Posted In: Compensation & Performance, Legal Process Improvement, Pricing Strategy, Profitability, Talent Strategy, Team Performance
2022 Profitability Strategy Checklist
While we are in the early days, 2022 has already delivered many gifts to us, including stock market volatility, high inflation, the advent
Posted In: NewLaw Business Models, Pricing Strategy, Profitability, Strategic Planning, Talent Strategy
Lost Momentum in the Evolution of the Law Firm Business Model
In the midst of a global pandemic, the legal industry has remained incredibly resilient as the demand for services – particularly deal support
Posted In: Pricing Strategy
Thoughts About Law Firm Rate Strategies into 2022
Economic Backdrop A recent AP news headline indicated that the price of cars, gasoline, restaurants, food, and other goods matched a 13-year high,[1]
Posted In: ALSP, Client Service, NewLaw Business Models, Pricing Strategy, Profitability
Your Clients Are Not Stupid; Stop Rate-Hiking as if You Think They Are
This article was first published April 20, 2021 in PinHawk’s Legal Administrator Daily. A good friend of mine who’s founded and served as
Posted In: Pricing Strategy, Profitability
Pricing 2.0 – Beyond the Billable Hour
This article was first published February 16, 2021 in PinHawk’s Legal Administrator Daily. I am enjoying the discussion going on these days about