What is Value Pricing?
Value Pricing is simple: You pay for the Value you receive, not for the hours lawyers take to do it! It’s a fixed price that lawyers and clients agree on together as a fair price for the solution.
Your business is moving at the speed of light, and you need legal professionals that are motivated by world-class service, effectiveness and efficiency. Value-based pricing aligns their interests with yours, making your success their success. Value Pricing first came to my attention through Ron Baker's book How does it work?
With Value Pricing, legal professionals discuss with each customer their goals and objectives the value drivers, and the way you want to do business together.
Then you put our heads together to explore the best way to help you and provide you with real choices. Together, you agree on a fixed, value-based price for services and off you go! Fixed price agreements include unlimited telephone calls and unlimited emails and can fit in with cash-flow arrangements. Any changes are made using a "Change Order" that way everyone knows what's happening. |
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Why is it better?
It’s predicatable and you can finally meet your budgets!
Lawyers invest in getting to know you and the way you do business, and you work as a team to have the value conversation and come up with a solution that works for you. Put simply, it’s a win-win, rather than a win-lose. How does it compare to hourly billing?
You get more value for your money! All customers value relationships that are built on transparency and candid conversations. Mutually set expectations are critical, and constant communication lets customers know exactly what to expect.
The focus is therefore always on delivering the maximum value. With a Fixed, Value-Based price, the interest is in delivering the best quality and service through effectiveness and efficiency. |
