Course Description

This course is for law practice principals who are attracted to the idea of value pricing, but either have doubts, or are uncertain how to go about making the change.

In this course, Giles Watson discusses:

  • why value pricing can dramatically boost profits (and other benefits) 
  • when value pricing is appropriate (and when to consider alternatives) 
  • changing the client engagement process 
  • how to price in value pricing 
  • how to manage regulatory and costs assessment risks (including changes in the costs agreement) 
  • the skills challenge – how to change behaviours and adopt a new approach 
  • alternative ways of dealing with scope creep 
  • legal project management and focusing on efficiency 
  • managing the change  – how to make it work 

2.5 hours / 2.5 CPD points (including core points in professional skills and practice management / business skills)

Consultant and trainer

Giles Watson

Giles Watson gets a big kick out of helping law practices realise their potential.Now:Director of Giles Watson Pty LtdPrincipal Consultant at CX Training Lectures on costs communication at QUTDad, husband, classic rock vinyl addict, zythologist and proud coach to North Lakes Leopards U6 rugby teamPreviouslyManaged the Queensland Law Society’s Practice Management Course: writing study guides, designing, developing and delivering sessionsManaged and promoted Lexcel, the Law Society of England & Wales’ legal practice management quality markWas a business development manager for 3 London law firmsQualificationsHas a Masters in Marketing, an MBA, a BA in Politics, and a Cert IV in Training and Assessment. Accredited in Hogan Assessments

Course curriculum

  • 1

    Introduction

    • Video - Introduction

    • Workbook - value pricing

    • 20171231 Value Pricing slides
  • 2

    Different types of fixed fees (and how they can make you more money)

    • Video - Different types of fixed fees

    • Blog - from fixed fees to value pricing
  • 3

    When to value price

    • Video - When to value price
  • 4

    Sales and pricing skills

    • Video - Sales and pricing skills

    • Blog - low balls and low costs estimates

    • Blog - fixed fees and underpricing - seller beware

    • Blog - 9 ways to reduce client price sensitivity
  • 5

    Legal project management for value pricing

    • Video - legal project management

    • Blog - less law, better value
  • 6

    Finding your price

    • Video - Finding your price

    • Blog - Fair fees
  • 7

    Client engagement and pricing discussions

    • Video - Client engagement and pricing discussions
  • 8

    Scope creep and costs updates

    • Video - scope creep and costs updates
  • 9

    Regulatory issues and costs agreements

    • Video - regulatory issues and costs agreements

    • Blog - value agreements

    • Blog - service guarantees: are you serious?
  • 10

    Implementing value pricing

    • Video - implementing value pricing