Let’s talk about legal fees. Why? It’s the basis of the very achievements, monetary validation of what we do. But selling work product based on time is perceived differently.
I’m not coming at this as an in-house counsel, nor taking the tactical approach of Procurement in managing costs. By the way Legal is not unique among professions handled by Purchasing/Legal-Ops.
Suffice to say “A professional is someone who is responsible for achieving a result rather than performing a task.”
Many books have been written on cost, price & value or pricing for input, output & outcome, quite beyond a 5-minute conversation
This may be about framing the problem, winning/settling a dispute, negotiating a clause, going down the right rabbit hole?
This is also about the less bespoke work, but how often have we looked at working with clients on the next bespoke work? Today, increasing legal complexity enhances the bespoke, but the importance of asking the right question, and the effectiveness and efficiency in providing solutions remains ever more in demand.
A singular focus on PPP/PEP may, or may not, bring client satisfaction. That’s because we need to make what clients buy, rather than sell what we make.
Recalling the words of a mentor: “What’s good for the client is good for the firm.”
That’s a conversation on your clients’ organizational purpose, business strategy, grounded on metrics & data.
This is about your strategy on innovation, the kind that will be adopted by clients, and ecosystem stakeholders.
That’s a conversation about tomorrow, while balancing the short term & working with today’s budgets.
For a further discussion on the legal market, please contact a member of the SSQ team and visit our website ssq.com