Pat Lamb packs a lot of wisdom into this short post about alternative fee arrangements and client service. But don’t take my word – read the post.
The money quote:
“The real solution is abandoning hourly rates. But I realize most clients won’t just jump wholesale to this model. So my advice? Experiment. Send some of your work to firms that will do it on a modified fixed fee arrangement.”
A bonus money quote for the post that led to Pat’s post from the excellent Wired GC blog:
“How long can law firms continue to meet their challenges by raising rates and hourly targets?
The survey says: perhaps not much longer.”
In the world of interesting coincidences, I had a long conversation today (before I read Pat’s post) with Peter Jenkins of the very innovative Law Department Consortium and I noticed that Pat Lamb is a member of the Law Department Consortium’s Advisory Board. That’s a group worth watching.
[Originally posted on DennisKennedy.Blog (http://www.denniskennedy.com)]
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