Smarter Pricing, Smarter Profit seeks to provide you with an easy-to-read roadmap" that guides you through the steps to improving your law firm's existing pricing and legal project management capability, and also to the overall profit contribution made in this ever changing legal environment. It addresses the full commercial spectrum of winning and engagement through to its successful completion, from the initial setting of price, to client negotiation, delivery of services and review of performance.
This one-of-a-kind resource is centered around the author's "Set-Get-Manage-Review" framework which has successfully been implemented within two major international law firms to date. But what makes this book so unique is the author has been (and continues to be) at the forefront of legal pricing and legal project management initiatives and was one of the first specialist "Pricing Directors" hired to support a major law firm.
This is the first book of its kind to provide a comprehensive, structured, and clear approach to addressing the increasingly complex pricing and delivery challenges faced within legal services. It is essential reading for anyone tasked with ensuring law firm profitability to understand what actions they and their colleagues can pragmatically take to help assess, management and enhance overall profitability within their respective organizations.
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Praise for Smarter Pricing, Smarter Profit ....
“Stuart has been at the forefront of legal pricing education, sharing his insights as the longest-serving pricing director in the legal industry. In this book, he collects the wisdom from his trailblazing career, creating an indispensable resource for professional service firms ready to improve their pricing strategy.”
-Patrick Johansen, CLM, CPP and founder of PatrickonPricing.com
"What makes a business book a must-read? I would posit that, at a minimum, the content must be timely, informative, insightful and well-written. Smarter Pricing, Smarter Profit by Stuart J. T. Dodds is a winner on all these criteria. It’s also smart and practical. As a reader of countless business books I was particularly appreciative and delighted that it was free of jargon and page-fillers! It’s a book I intend to gift to my clients together with a yellow highlighter!"
— Rose D. Ors, Founder and CEO, ClientSmart
"Smarter Pricing, Smarter Profit is a must have reference work for anyone who is responsible for generating revenues and profit at a law firm. The book covers all aspects of law firm fee management including pricing, fee structures, negotiation and legal project management. The book excels in that it provides practical advice for each step of the fee management process, including the often neglected but essential pricing analysis piece that should precede any pricing decisions. It also provides valuable insights into how to deal effectively with procurement. As a former procurement consultant and now Director of Pricing for one of the world’s leading law firms Stuart Dodds is at the very forefront of developments in this rapidly evolving and increasingly critical area of law firm management. His highly practical advice and perspective are invaluable and should be read and understood thoroughly by anyone involved in the pricing and negotiation of law firm fees. I strongly recommend reading this book cover to cover."
— Ori Wiener, co-founder and Director of the Møller PSF Group, Cambridge and author of High Impact Fee Negotiation and Management for Professionals
"Smarter Pricing, Smarter Profit" is a one-of-a-kind, indispensable reference covering the timely topics of pricing, profitability and project management in a soup to nuts fashion. Stuart Dodds writes in a conversational tone that is accessible and engaging. Definitely the best that I've seen on these important topics."
-Michael Byrd, Principal, Soar Legal Consulting
"People often ask me what is the one thing I suggest they read in order to understand all of the changes in the [legal] market and how their firms can best adapt. I now have an answer for them: Read this book."
—Toby Brown, Chief Practice Officer, Akin Gump Strauss Hauer & Feld LLP and Chair of the LMA’s Client Value Special Interest Group
"Smarter Pricing, Smarter Profit is soup-to-nuts the most comprehensive and forward-looking resource I have seen yet. It should be required reading for anyone involved in pricing or managing legal work. I will need many copies of this book as I plan to distribute it widely within my firm.”
—Chris Emerson, Director, Practice Economics Group, Bryan Cave LLP and Vice President of ILTA’s Business & Financial Management Peer Group
"Smarter Pricing, Smarter Profit provides a step-by-step guide for improving pricing performance and, ultimately, profitability. It’s easy to read and packed with practical ideas for improving results within firms, presented by one of the world’s leading practitioners in the field. I recommend this book to anyone charged with responsibility for improving their firm’s pricing performance."
—Colin Jasper, Director, Jasper Consulting
"The book is crammed with practice advice accumulated over years of experience. If you only have time to read one book on pricing this year. This is the one."
--Pier D’Angelo, Chief Pricing Officer, Allens
Smarter Pricing, Smarter Profit provides a terrific overview of the major issues affecting the pricing of legal work today. Stuart Dodds lays out a simple, yet comprehensive framework for developing and negotiating the right price for legal matters and then, managing to the matter to that price. The book does not address pricing in a vacuum but in conjunction with an understanding of the market trends, law firm profitability and other key issues that are critical to effective pricing. The book should be required reading for anyone leading pricing or LPM initiatives in law firms.
—Susan Raridon Lambreth, Principal, LawVision Group and LPM Institute Co-author, The Power of Legal Project Management: A Practical Handbook and four other books on project and practice group management