- From Billing Hourly to Up-Front Pricing of Legal Work
Shifting off hourly billing can seem like a daunting task, but if done well, it doesn’t need to be that hard. It does require going against the grain.
One of the biggest hurdles for people moving away from hourly models is getting past the thought of “I might work for free on this”.
AltFee Co-Founder + Chief Evangelist Digby R. Leigh joins Geraldine Carter to discuss his experience moving to Alternative Fee Arrangements.
— “The fear of changing (from an hourly model) often comes from “Well, we're going to lose money.”
— “We don't have any conversation with the clients about receivables any longer, because they know exactly what it's going to be. So our collections have become a lot easier.”
— “Pricing is a craft.”
— “I'm trying to create a dynamic where a client is actually comparing options, as opposed to comparing me to somebody else. And I've given them the chance to participate in the pricing discussion.”
— “One of the biggest hurdles for people moving away from hourly models is getting past the thought of “I might work for free on this.”
Enjoy the listen!