If you’ve spent much time on my site, or talking to me in person, you know that I am not a fan of time-based billing, and am a huge proponent of value-based fees. Some of the worst offenders when it comes to time-based billing are lawyers — but the winds of change are beginning to … Continue reading Alternative Fees accounting for larger share of revenue at top law firms
Jim Hassett, founder of LegalBizDev, and his brother Matt Hassett wrote an excellent article on value-based fees and other alternative fee arrangements. While directed primarily at lawyers (by far the worst abusers of the billable hour lifestyle), this report provides deep insight into a decade of one industry’s look at equitable pricing of professional services. … Continue reading The Past and Future of Value-Based Fees and Alternative Fee Arrangements
Brian Solis is an inspiring thinker, writer, speaker, and consultant. His latest book, The End of Business As Usual highlights the evolution of the marketplace and what business leaders must do in order to remain relevant (and profitable). In a recent post for PandoDaily, Solis writes: If we are to truly change, we must find … Continue reading The new business paradigm: Adapt and Innovate, or Die
Care. Care more than you need to, more often than expected, more completely than the other guy. No one reports liking Steve Jobs very much, yet he was as embraced as any businessperson since Walt Disney. Because he cared. He cared deeply about what he was making and how it would be used. Of course, … Continue reading Seth Godin’s antidote to a corporatized, unfeeling, profit-maximizing world
LexBlog founder Kevin O’Keefe recently chaired a program in San Francisco regarding social media for legal business development. During the discussion, someone suggested that the day may come when lawyers are required to use an RSS reader. (An RSS reader allows one to review the articles and posts linked by RSS feeds. See this video … Continue reading Is there an ethical obligation to remain aware of issues impacting your profession?
Scott Berkun is one of the young lions in the consultant/speaker/author world. A few years ago, he wrote a book on project management – Making Things Happen: Mastering Project Management (Theory in Practice). Below is an excerpt from that book that addresses what a successful project manager should do when things fall apart. 1. Calm … Continue reading Scott Berkun on project management: What to do when things go wrong
The Wall Street Journal published an article today on how alternative fee arrangements are accounting for a larger percentage of revenue at law firms. Unfortunately, the article requires a subscription to read. Ed Poll, one of the leading voices on business development for lawyers offered his insight into the shortcomings of the WSJ article: What … Continue reading Ed Poll: Flat-fee billing works because both sides benefit
Ken loves coffee from Gevalia, He has been an auto-ship customer of Gevalia since 1989. That means that they send him two pounds of coffee every month, and he sends them money. If it were possible to bottle that kind of customer loyalty, it would sell even better than the finest coffees. But Gevalia’s new … Continue reading Life is too short for bad coffee. And bad coffee companies.
According to Paul Schoemaker at Inc., here are some of the attributes of adaptive strategic thinkers, “the kind who thrive in today’s uncertain environment”: Strategic thinkers anticipate by looking beyond the walls of their company. They think critically, and question everything, challenging even their own beliefs. Strong strategic thinkers interpret the patterns from multiple sources … Continue reading Six attributes of highly effective strategic thinkers
cobot is a Software-as-a-Service (SaaS) tool for managing coworking spaces. What is a “coworking space”? It is simply a workspace, typically in a commercial building, where freelancers, start-ups, and other lean businesses can rent/lease flexible space that is shared. The idea is that while telecommuting is a great and cost-effective idea, working from is not … Continue reading “Best Practices” not always best for customer satisfaction