Blog
Professional services firms: pricing the uncertain
Pricing work that lacks clear deliverables, predictable timelines, measurable outcomes or a defined scope of services is one of the biggest challenges professional services firms face today.
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Redefining leverage in the age of AI
As the age of artificial intelligence (AI) dawns, the traditional view of leverage is being reviewed and rewritten. Tomorrow, leverage is going to be less about headcount ratios and more about a new dynamic.
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Strengthen client loyalty and staff development by introducing junior team members early
We often hear feedback that clients wish they had the chance to meet all the professionals on the team. But, as anyone who has worked in professional services can tell you, client relationships are carefully cultivated and often closely guarded by senior partners and/or client relationship partners.
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Supercharge your business development results by learning to delegate
Delegating business development tasks strategically and effectively can dramatically improve your business development performance and results.
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How to attract high-value clients
High-value clients gravitate toward firms that are intentional about how they present themselves, what they do, who they serve and what value they are delivering to their clients.
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10 ways AI will change your firm’s pricing
Fundamentally, AI will bring discipline to pricing by offering firms real-time insights, automating routine processes, and revealing patterns that help partners and pricing teams make better decisions.
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Receiver pricing: a procurement-led perspective
Receiver pricing is a relatively new concept to professional service suppliers. In short, it is structured from the perspective of the purchaser/buyer of your service, not the more traditional model o
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Are discounts negatively impacting your profit margins?
Discounting is addictive and can easily become your default pricing strategy, rather than a strategic choice. Once discounting becomes your default pricing strategy, you’ll notice that they can quickly eat away at your profit margins, undermine your brand value and set damaging expectations with clients.
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Your hourly rate is set by the market, not your finance team!
Hourly rates are meaningless: The market decides what you are worth! Finance can give you a compass, but it’s the client, the competition and your own positioning that ultimately sets the price you can charge.
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A guide to moving from discounts to fixed fees
If you’re offering strategic discounts to all your clients, then they are no longer strategic: you’re simply giving money away. Worse, you’re undermining your brand, both personal and firm.
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Subscription based legal services; a modern approach to pricing
An overview of the subscription-based model for the provision of legal services. While accepting that not every legal matter is suited to a subscription model, many essential services can be bundled into ongoing, value-driven subscription packages.
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Business development: the skill AI can’t replace
As artificial intelligence (AI) transforms the way in which professional services are provided – from automating tasks to enhancing efficiencies - roles will undoubtably be redefined. Included in this will be a significant shift in the value professionals offer their clients.
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