Pricing and Profitability for Law Firms is written by Michael Roch and analyses in depth the various tools, methodologies and strategies available to your law-firm for developing a successful and competitive pricing management system.
The purpose of this important new report is to enable your law firm to develop a clearly defined pricing strategy that will increase profits while successfully communicating and delivering improved value to your clients.
Subjects include:
+ The five major myths of law firm pricing: the case for effective pricing management;
+ Understanding legal industry trends and their influence on pricing;
+ The firm's market: establishing value propositions as conditions precedent to pricing;
+ Establishing rational rate schedules and raising rates;
+ Using different pricing methodologies;
+ Structural prerequisites for effective price execution;
+ Translating value for the client;
+ Pricing and leverage; service delivery models;
+ Pricing, capacity and utilisation;
+ Pricing, margin and cost management;
+ Changing partner behavior to achieve better pricing decisions;
+ Financial information management for better pricing decisions.
This best-practice guide explains how to manage pricing as the profit driver in the same way as most firms have successfully managed utilization, realization, leverage and margin for some time.