Legal Talk Network - Law News and Legal Topics Flat-Fee Billing? Yes! A “Super Episode” With the Host of Lawyerist
In this “Super Episode,” host Adriana Linares is joined by Stephanie Everett, a host for the Lawyerist podcast on the Legal Talk Network and the chief growth officer, lab coach, and speaker with Lawyerist, a firm dedicated to helping solo and small legal practices flourish in every area including marketing, finance, staffing, and legal tech. Twice the hosting! Together, they tackle the transition to flat-fee billing and explain how it can sometimes be a better solution for lawyers and their clients.
Clients are used to the traditional billable hour, but in reality, they aren’t paying for your time, they are paying for results. They are paying you for what you achieve. So why not bill that way?
This doesn’t have to be all or nothing. Some jobs can be better handled with a straight up, flat fee or a subscription model. Others may still require hourly billing. Or maybe one part of the case is a set amount, with hourly add-ons if the case drags on.
The goal is never to see your practice earn less revenue, but flat-fee billing can benefit both client and lawyer. Think of how many times clients were afraid to call you or chat a bit to build a relationship because they worried the clock was ticking. Hear how you can try it out, “play with” a rate shift. Maybe even present clients with an option. If you’ve been curious about how flat-fee billing can work, this is the episode for you.
Questions or ideas about solo and small practices? Drop us a line at NewSolo@legaltalknetwork.com
Topics:
- Flat-fee billing? It can be done, and it can offer advantages to both clients and law firms. Clients are paying for results, not “hours.
- How you price your services doesn’t have to be one way or the other. It can be both. Some tasks can be set for a straight up, transparent flat fee. Others may work best at an hourly rat
- Explaining fees to clients is a new concept. But clients often warm up to new ways of doing things if they’re given the chance and understand their options. It starts with honest, clear conversations. (Don’t forget to help your own staff understand, too.)
Mentioned in This Episode:
Previously on Lawyerist podcast, “#547: Legal Tech You Need for Flat Fees, with Adriana Linares”
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