Attorneys who invest in Pricing are more profitable.
For nearly 20 years, Patrick has work across a broad range of law firms–from 70 attorneys in a single office to 1,600 attorneys in 10 countries–including two AmLaw 100 firms. With a career in both business development and Pricing, Patrick is an exceptional resource for how Pricing Strategy works within law firms to win work, to improve margins, and to grow profits.
Pricing Theory. As the legal industry’s first Certified Pricing Professional, Patrick has a wealth of advanced knowledge of Pricing principles.
Pricing Practice. As head of two AmLaw 200 Pricing & Project Management teams, Patrick has a diverse understanding of Pricing functions, day-to-day procedures, and staffing requirements.
Pricing Fun. As an award-winning speaker, Patrick is known for his high-energy, highly entertaining presentation style, which complements his content-rich, highly interactive teaching methods. Patrick makes training fun.
In the aftermath of the Great Recession, law firms have shown increasing competence in Price, even as they ignore the importance of Value. Price will help margin; Value will help profit maximization. As long as the legal industry continues to “sell” experience or fee arrangements, it misses the bigger picture: “Buyers are not price-sensitive; they are value-conscious.” This training takes participants beyond Price to provide a new focus on Value that will put your firm on a path to win more profitable work.
For the last decade, law firms learned the hard way that buyers of legal services hold the Pricing power. In order to win/retain work, firms had to lower hourly rates, which maintained client relationships at the expense of Profitability. The AmLaw 200 invested in Pricing Functions, which helped Profitability, but is not equipped to help firms win new work. The BRAVO! Framework is designed at the intersection of Business Development and Pricing. This training gives participants (attorneys and staff) a new tool in their quest to win new work.
You know the old cliche: lawyers did not go to law school to learn math. When the Great Recession hit and clients began asking for discounts, law firm leaders should not have been surprised by the economic aftermath. Sadly, a decade later, most lawyers are no more skilled in Price discussions, even though their matter profitability IQ has increased substantially. This training is designed for partners to learn selling and negotiation skills and to raise partner confidence when discussing dollars and financial deals with clients and buyers of legal services.