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Monthly Archives: August 2012
Actors hire agents, Law firms should hire pricing experts
Firms must educate their lawyers to thoroughly understand cost structures and develop sophisticated metrics for pricing and modeling AFAs. Christian uses a cause-and-effect chain for price modeling. Why does the client need to win the lawsuit? What happens if they … Continue reading
Posted in In the press, Interesting articles, Thoughts
Tagged change, data mining, data-driven management, law firm management, metrics, Pricing
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Focus on OUTPUT, not INPUT – and don’t bill in increments of 6-minute contractions
Critics of AFAs question their value to clients if they net just as much revenue and profit for the firm as would a billable hour arrangement. However, AFAs can have value to a client even if a particular matter ultimately … Continue reading
Posted in In the press, Interesting articles, Thoughts
Tagged change, data mining, data-driven management, law firm management, metrics, Pricing
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No magic AFA
Most clients prefer flexibility in terms of rates and billing and many see AFAs as the answer, albeit not necessarily the panacea. Delivering “value” to the client is at the heart of the AFA discussion. And value can means so … Continue reading
Posted in In the press, Thoughts
Tagged change, data-driven management, law firm management, metrics, Pricing
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