56. How to Build a More Successful and Fulfilling Law Practice Through Value Based Pricing

Do you ever find billing clients to be uncomfortable? Get tired of keeping time and meeting billable hour expectations? Are you interested in finding a better  way to practice law?

Katherine Bromfield  is an innovative, successful and fulfilled family law attorney in Western Australia. Katherine joins The Free Lawyer today to share her thoughts about the many benefits of value-based pricing. She discusses the many problems the traditional hourly billing system causes for  attorneys- dissatisfied clients who do not know what the legal services will cost and have billing shock when the monthly bill comes; the lack of synergy between clients who are focused on the value they receive and the law firm who has a motivation to bill  more hours; the attorneys who are stressed by the hourly billing requirements; and collection issues for the law firm.

Katherine explains how value-based pricing satisfies the client by providing the value they want at an agreed cost; creates synergy between the lawyer and client who both have a goal to efficiently and quickly resolve the client's issues; supports the wellbeing of lawyers  by providing an environment of less stress and greater fulfillment; and builds the law firm  which  is more purposeful and successful.

Want to learn more about how this works? Have a listen!

Katherine Bromfield is a family lawyer in Perth, Western Australia, and helps people to resolve the issues arising from separation and move on with their lives. She started her legal career at Legal Aid, then worked at several different private law firms before starting her practice as the Director of Bromfield Family Law.

Family law disputes damage families, and Katherine seeks to reinvent the way clients experience family law so as to deliver outcomes that mitigate harm and protect their families. Now in her own micro virtual practice, Katherine has rejected the traditional business model of law and is embracing new and more flexible ways of delivering family law services so as to provide clients with a strategic pathway to realize their objectives while remaining in control of their matter and the associated costs.

Katherine will speak about her success in applying value-based pricing and a strategic and project management style approach to each matter to re-align clients with lawyers and the business of law with the practice of law. Katherine will also tell you how this approach has helped her fall back in love with the practice of family law and how it continues to safeguard the well-being of her team.

You can find Katherine on LinkedIn: https://www.linkedin.com/in/katherine-bromfield-6aa717184/

Are you interested in learning more about value-based pricing? Here are some resources:

Tim Williams

https://www.ignitiongroup.com/propulsion-blog

John Chisholm Consulting

https://www.chisconsult.com/my-perspective/

Linked In – Legal Iconoclasts

https://www.linkedin.com/groups/12637001/