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This episode is part three of four on converting a law firm from hourly to fixed fee billing.
The most difficult part of the process is articulating the fixed fee value and selling it.
If you try to do it the same as hourly, you will get killed and lose big time.
With hourly billing, the client bears the risk. This is one of the main reasons why lawyers use it and like it.
But, with fixed fee, the risk shifts to the firm. This can be scary. But, it also opens the door for way happier clients and for the lawyer to find new ways to create value.
The lawyer needs to make the shift from selling hours to selling value.
Our firm has found that fixed fee (1) aligns the client and the attorney to the same goal, (2) improves communication in a meaningful way, and (3) gives the client certainty.
The info in this podcast will help you figure out how to articulate the value of fixed fee in a compelling way.
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Go to: www.JSterlingHughes.com for tons of Family Law Practice resources.
My purpose is to Empower Family Law Attorneys so they can build a beautiful family law practice and have the practice of their dreams.
I share my family law firm’s secrets, tactics, and strategies of how we have grown from 0 to 25 attorneys and over $15m in revenue in our first ten years.
When I am not podcasting, I am the CEO and Co-Founder of SterlingLawyers.com.
Follow me on: LinkedIn - YouTube - X - Instagram - TikTok
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Send us a text
This episode is part three of four on converting a law firm from hourly to fixed fee billing.
The most difficult part of the process is articulating the fixed fee value and selling it.
If you try to do it the same as hourly, you will get killed and lose big time.
With hourly billing, the client bears the risk. This is one of the main reasons why lawyers use it and like it.
But, with fixed fee, the risk shifts to the firm. This can be scary. But, it also opens the door for way happier clients and for the lawyer to find new ways to create value.
The lawyer needs to make the shift from selling hours to selling value.
Our firm has found that fixed fee (1) aligns the client and the attorney to the same goal, (2) improves communication in a meaningful way, and (3) gives the client certainty.
The info in this podcast will help you figure out how to articulate the value of fixed fee in a compelling way.
-------------------------
Go to: www.JSterlingHughes.com for tons of Family Law Practice resources.
My purpose is to Empower Family Law Attorneys so they can build a beautiful family law practice and have the practice of their dreams.
I share my family law firm’s secrets, tactics, and strategies of how we have grown from 0 to 25 attorneys and over $15m in revenue in our first ten years.
When I am not podcasting, I am the CEO and Co-Founder of SterlingLawyers.com.
Follow me on: LinkedIn - YouTube - X - Instagram - TikTok
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