Blog
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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How do you attract more clients like your most profitable clients?
Knowing the 80/20 Rule applies to most professional services firms, why aren’t you doing more work for the 20% over the 80%? In this article, we look at five key strategies to do just that.
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Why you should niche: the power of specialising
While it is always nice to hang out with the high rolling “full service” firms; today, if you want a chance of maximizing your profit opportunities, it is a far better strategy to market yourself as a niche practice.
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Blended rates and how they can help with your pricing strategy
Adopting and implementing the right pricing strategy is critical for any business looking to balance profitability, competitiveness, and stay in business. A pricing approach that often gets overlooked in this discussion is blended rates.
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Benefits of staying in your lane to be successful with your business development
Staying in your lane isn’t about stifling growth opportunities; it’s about understanding your strengths, focusing your efforts, and maximising your business development impact.
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10 tips for working with clients you don't like
Every now and then, you are faced with the prospect of working with a client you don’t particularly like. But, at the end of the day, we are professionals and with the right mindset and strategies, we can navigate these challenges and even turn them into opportunities for growth.
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Why horizon scanning is critical to the success of your business development efforts
Horizon scanning is a critical strategic tool used to identify and analyse potential future trends, opportunities and threats. It is the process of systematically identifying and assessing potential future developments that are likely to impact your professional practice.
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The law of supply and demand doesn’t apply to the pricing of professional services
It’s a foundation principle of economics: Supply and demand determine price. Oversupply will reduce prices. Increased demand will increase prices. However, this fundamental principle – that drives most of the world’s economy – doesn’t apply to professional services!
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10 benefits of having a Key Client Program
In a recent post, we discussed implementing a Key Client Program (KCP). In this post we want to expand upon that and discuss what the benefits are of having a KCP – and trust us, there are plenty more than the 10 listed in this article.
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