Law firms spent much of the last recession, rightly, putting their fixed and variable costs under the microscope, and cutting where they could. While that was happening, a shift in the balance of power in favour of clients resulted in increasing pressure on law firm margins. The annual increase in hourly rates was no longer matched by clients willing to pay them.
Now, the twin focuses of many law firms are pricing (or, how to get better paid for what we do) and process (or, how do we lower the unit cost of production). The truth, for most firms that have weathered the recession, is that these are the last two levers left to pull to positively affect profitability.
When leading SAS Daniels LLP, Nigel brought Richard Burcher in to deliver pricing training to the senior lawyers. They were just the second firm in the UK to invest in Richard’s skill and experience. The immediate results were improved profitability and happier clients.
Nigel was so impressed by what he saw, that, in a sense like Victor Kiam, he joined the business! Nigel’s wide-ranging experience as a practising solicitor, and as a law firm Managing Partner and CEO, added to his experience of successfully embedding value pricing skills at SAS Daniels, makes him ideally qualified to train law firms in this subject.
Nigel provides pricing training workshops and other pricing services exclusively through Burcher Jennings, the UK’s leading pricing and costs consultancy, and Validatum, Richard Burcher’s legal services pricing consultancy.
You can learn more about this service and read blogs and testimonials here.