This week’s #tbt (Throwback Thursday) recommendation is a post I wrote back in August of 2018 – ‘Why most law firms don’t need to hire a head of pricing‘.
The reason I’d like to suggest that you go back in time and read an article I wrote back in 2018 is because of something I read on law.com earlier this week: ‘How Law Firms Are Still Losing Millions, Even After Hiring Pricing Specialists‘ by Andrew Malocussion.
If you don’t have time to read Andrew Malocussions article, and I suggest you do because it’s actually very interesting, the long and short of it is that the reason why big (read global) law firms are losing millions in revenue (opportunity) is because…
… their pricing teams are too small.
All I have to say is, “seriously”!
Do yourself a favour, go back in time 5 years and work out for yourself whether or not the fact that law firm pricing teams are too small is the real reason they may or may not be losing millions of dollars in revenue.
For my part, this type of thinking doesn’t pass the pub test!
Feel free to reach out to me if you want to talk through any pricing strategy related issues/questions.
RWS_01's B[D]log 
“Seriously”! Andrew Malocussion’s advertorial ( it could have been written in 1993 not 2023) does not pass any logical test Richard. You can employ as many so called “pricers” in Biglaw/Oldlaw/Globalaw as you like but for so long as these faux pricers and their firms focus on time recording and billing by time nothing will change.
And Biglaw/Oldlaw/Globalaw love to tell lawland how innovative they are!! What a load of B.S!
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Agree Richard this does not pass any logical or reasonable test.
The author’s shallow advertorial has nothing to do with pricing period.He only refers to time recording and hourly rates-the #Oldlaw business model.
Such firms can employ as many faux pricers as they like but while they still adhere to the “we sell time” #oldlaw model of leveraging people x time x hourly rate nothing will change.
And Biglaw/Globalaw/Oldlaw have the temerity to say they are innovative! What B.S.
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