Pricing Legal Services: Value-Based Set Fees
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About
This Course
The billable hour has been common practice for attorneys when billing clients; however, offering value-based set legal fees rather than the billable hour may be a better option for clients and attorneys alike. Doing it correctly leads to higher client satisfaction, higher revenue and collection rates, and lawyer well-being.
This program will teach you how to price your legal services using value instead of time. Discussions will entail the pitfalls associated with the billable hour and the benefits of value-based pricing, a deep dive into value and how it can be applied to pricing, a four-step framework for value-based pricing, tips on setting expectations, and best practices for drafting engagement agreements.
Attorneys who are interested in moving away from the billable hour approach and instead offering value-based set fees are encouraged to attend this informational program.
Learning Objectives:
- Understand why value-based pricing is the path forward
- Explore the concept of value and how it should be applied to your pricing and firm more generally
- Investigate a four-step framework for value-based pricing
- Learn tips on setting expectations and drafting engagement agreements
About the Presenters
Jessica Bednarz, Esq.
Institute for the Advancement of the American Legal System (IAALS)
Practice Area: Law Practice Management (+ 1 other areas)
Jessica Bednarz is the Director of Legal Services and the Profession at IAALS. In this role, Jessica is responsible for leading the vision and strategy of IAALS’ work around innovation, regulation, reform, and evolution in the areas of the delivery of legal services and the legal profession more generally. Jessica is also the Co-Founder of A Different Practice.Jessica joined IAALS in 2023 after working at The Chicago Bar Foundation (CBF). During her eight years with the CBF, Jessica worked on a wide range of access to justice issues. Her most recent work includes overseeing the CBF’s legal incubator program called ...
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Lauren Lester, Esq.
Lester Law
Practice Area: Business Development (+ 1 other areas)
Lauren Lester is a solopreneur who supports clients in Colorado through life’s milestones with her firm Lester Law (www.mylifelawyer.com). She graduated from the University of Florida (Go Gators!) and earned her law degree from Georgia State University.Lauren is passionate about the business of law and helping lawyers build profitable practices they love. She co-founded A Different Practice, which develops practical resources on how to ditch the legal profession’s antiquated approach and optimize your law firm for growth and enjoyment. Learn more at www.adifferentpractice.com.
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