Law Subscribed (130) Timesheets ≠ Costs: Why Portfolio Profit Trumps Cost Accounting with Ron Baker
Ron Baker, a renowned expert on value pricing and subscription models for professionals, comes back to the show for a lively discussion on LinkedIn. We dive deep into the pitfalls of cost accounting and timesheets, particularly in the context of legal and professional services. Ron shares insights from his and his late colleague Reginald Tomas Lee’s works, detailing why traditional cost accounting is fundamentally flawed and emphasizing the shift toward a transformation economy. We explore how professionals can better manage their teams, pricing strategies, and client relationships without relying on outdated metrics. Ron also highlights his collaboration with Ed Kless on their new venture, Threshold, aimed at guiding firms into this new economic era. Essential listening for anyone looking to modernize their practice and align with the evolving landscape of professional services.
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