The Agile Attorney Podcast 048. The Obvious Switch to Value Pricing with Jonathan Stark
Dec 19, 2024
Jonathan Stark, host of the Ditching Hourly Podcast and author of "Hourly Billing is Nuts," sheds light on revolutionizing legal practices. He argues that valuing time over service leads to burnout, and suggests shifting to value pricing instead. Stark discusses the concept of 'failure demand' and its costs, while sharing strategies like automation and outsourcing to enhance efficiency. The talk emphasizes creating streamlined workflows that boost client satisfaction and profitability, all while redefining the role of legal professionals towards a strategic focus.
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Episode notes
Streamlining Operations
- Systematize processes, create checklists, and automate tasks to streamline operations.
- Focus on doing the work that delivers the best outcome for clients, not just maximizing billable hours.
Measuring and Managing Workflow
- Track key metrics like matters opened/closed per month and average case duration to understand workflow dynamics.
- Use checklists not just as to-do lists, but as quality standards to ensure consistent results.
Strategic Delegation
- Avoid maximizing resource utilization, as it leads to gridlock and inefficiency.
- Delegate strategically, focusing on downstream tasks to free up lawyer time for higher-value work.