Building A Law Firm

Pricing Law Firm Services Clients Can't Wait to Pay Yesterday I had an interesting conversation with one of my law firm owner clients about pricing. He was trying to figure out how to price a one off product he was presenting to a client and he was having trouble settling on a price. See, he'd already made the fantastic decision to stop billing by the hour and instead bill for value (which means thinking about what the client is actually getting instead of figuring out how many hours something will take and adding that all together). As we talked through the process of valuing this offer, something hit me - there is a tremendous amount of perceived value in IMMEDIATE cost savings or tangible results when compared to long-term results. To give you an example, when an estate planning client comes into my office and I tell them I can save them $50K this year on their taxes they experience a lot more value than if I told them I could save them $500K after they were dead. It's the immediacy coupled with the