There simply is no other lever that law firms can pull that delivers the impact that improved pricing skills does. Imagine a £10m turnover law firm that invests in training its senior lawyers in pricing, a firm with a net profit of 20%. Six months later, the firm is generating revenues equivalent to an annualised £10.5m, a 5% increase. That modest increase in revenue results in a 25% increase in profit, because there are no additions to the firm’s overheads!
My interest in Pricing was sparked by working with Richard Burcher in 2012 and was nourished during an 8-year working relationship with Burcher Jennings.
With AI making its presence felt in the professions, 2025 is likely to be a pivotal year in the pricing of professional services, as dozens, then hundreds and eventually thousands of 6-minute units get replaced by generative AI. Now’s the time to move to pricing outputs (the value created and delivered) rather than inputs.
I’ve worked with about 100 firms (mostly in the law, but also with accountants) in the UK and Europe on Pricing. Clients have ranged from sole, niche practitioners to top 50 firms (both in law and accountancy). All, without exception make more money (and have happier clients!) as a direct result of the skills they learn. Many of my client firms have provided testimonials which you can read here.
To look at the Pricing Services I offer, please click here.
My work in this field was recognised with an invitation to teach Pricing on the prestigious Master of Legal Business course at the College of Law, Australia.
If you would like to discuss how I can help you and your firm, please e-mail nigel@haddonconsult.co.uk or telephone 07753 605236.
