Value Pricing for Your Firm
The billable hour may be the major impediment to the quality of your life, your profits, and your clients’ satisfaction. Two gurus of value pricing, Ron Baker and Chris Marston, participated in an update on the status of value pricing within the legal profession. Also joining the call were Atticus® graduates Mark Chinn and Lonny Balbi who have implemented value based pricing in their firms. Finally, the call was facilitated by Steve Riley, a leading coach and innovator in the legal profession.
Ron Baker started his CPA career in 1984 with KPMG’s Private Business Advisory Services in San Francisco. Today, he is the founder of VeraSage Institute, the leading think tank dedicated to educating professionals around the world.
He is the author of six books, including: The Firm of the Future; Pricing on Purpose; Measure What Matters to Customers; and Mind Over Matter; and Implementing Value Pricing, and he speaks internationally on value pricing.
Chris Marston is an attorney in Boston, and is founder and CEO of Exemplar. Chris’ practice focuses on M&A, private equity, securities and corporate transactions and has utilized value pricing for a number of years. Chris is a fellow in the Verasage Institute founded by Ron Baker.
Lonny Balbi is an attorney from Calgary, Alberta, Canada, practicing exclusively in the area of Family Law. His firm of five lawyers have gone from an hourly billing model to a flat-fee pricing model – with great success! Lonny started out the flat-fee pricing discussion with his Matrimonial Assessment System – a complete system on providing matrimonial clients with more value at a fixed cost, known up-front.
Mark Chinn is a long time Atticus® participant. He is a family lawyer in Jackson, Miss who started value pricing in 2005. He has written a handbook entitled, “Dumping the Billable Hour” which is available on his web site at www.chinnandassociates.com. He has been inducted as a fellow in the Verasage Institute.
Steve Riley is an attorney and an Atticus® practice advisor. He works with lawyers who are looking to take their practices to new levels. He is the creator of the Double Your Revenue workshop (which we are teaching in June), winner of the small firm practice innovation award in 2006, and is frequent speaker to legal associations across the country.
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