Check Out the Latest Law Practice Management Tip from Red Cave Consulting

12/06/2018 - Bar members are entitled to FREE virtual consultations with Red Cave Law Firm Consulting. Red Cave will assist you with issues such as billing & collection, client relations, data management, financial management & revenue goals, marketing, social media content, office technology, time management, and disaster prevention & recovery. Check out Red Cave’s weekly law practice management tip below!

Product-Market Fit: How to Make More Money by Working with Non-Traditional Law Firm Clients

Lawyers have always billed clients the same way: by the hour. (Yawn.) While that option is good for law firms (hello: uncapped billings), clients often chafe at the model, because $— x however many hours the lawyer decides to work is a little bit more of an investment than, say, a Netflix subscription.

But, there’s a reason why subscription services like Netflix flourish: it’s because of the low level of investment, and the high value of return. People have little problem dropping $15 per month on Netflix; but, if Netflix jacked the price up, or severely restricted the number of entertainment offerings included, there’d be a problem. Law firms seem to suffer from that very issue: a lack of differentiated offerings and a heavy price point. It’s a riddle wrapped in a mystery inside an enigma, bound up by a total lack of imagination.... Click here to read more!

Don’t forget to visit our new Law Practice Management page for more tips and tricks!