How is Burcher Jennings Transforming Law Firms Profitability?

Posted by Michelle Barron on 26th September, 2017 in Opinion and categorised in .

 

Burcher Jennings has for the last three years been transforming UK law firms revenues and profitability. Bottom line has been increased from anything between 10% to 25% and upwards.

How? By teaching law firms how to price more effectively.

Why? Because if you get it right it is one of the key drivers for a successful and more profitable law firm.

Clients are now much more sophisticated and cost conscious. They want to engage in the issue of pricing. They want to be given options and that's not just an hourly rate or fixed fee. They also want greater correlation between price and perceived value. It's a myth to think they are shopping around for the best deal - they are looking for transparency, certainty and manageability.

 

However, there is a problem:

  • Lawyers don't like talking about money
  • Lawyers undervalue themselves
  • Lawyers lack pricing confidence

Our Pricing Masterclasses can change all of that.

But...don’t take our word for that, this is what your peers around the country are saying:

Frances Mayne, Senior Partner, Wilsons: “Excellent. Everyone should do it.”

Chris Hart, CEO at Wollen Michelmore LLP: "We have seen huge benefits from running two Burcher Jennings pricing masterclasses.   Nigel Haddon delivered the training in an engaging manner with the benefit of his experience both as a lawyer and as a law firm CEO clearly shining through.  Following the training one of our private client partners described the masterclass as an 'absolutely brilliant game changer!'.  In the first full financial year post training we saw a 26% increase in average fees per file.  To achieve such results does require consistent effort and management post training and also a willingness to be prepared not to undertake some work that might previously have been undertaken at less than commercial rates.  The result is better service to clients, happier lawyers, and a more profitable firm – a no brainer!  We will shortly be running our third pricing masterclass for new joiners..."

Carol Fish, Director, Cartmell Shepherd: "Thought provoking – potential to be a real game changer for the firm."

Derek Rogers, Managing Partner, Gardner Leader: “It has been really interesting (and encouraging!) to see the change in approach already from those of us who did the pricing training.”

Marie Horner, Partner Harrowells: "Very insightful, eye opening three days, arming delegates with practical skills to increase fee earning potential. I feel empowered for future costs' conversations and have already put them into practice less than 24 hours after the course finished. Thank you."

Lindsey Kidd, Partner, Hillyer McKeown LLP: "The value pricing training exceeded expectations.  Without exception, the delegates attending the training were excited and enthused about what they learnt, describing the methodologies which they came away with as ‘enlightening’ and ‘game changing’."

Richard Lane, Managing Partner, Wright Hassall: “The workshop was very good on many levels and was certainly very worthwhile - so much so that we have already booked another 2 days for a further 15 people. Tim Aspinall delivered the session extremely well and kept everyone engaged and attentive throughout. Having experienced this workshop at first hand, it is certainly critical to get our senior people right behind it and experience the workshop’s true value. They have to be seen to be doing it and changing what they do to embrace all the benefits. Having booked further days, I am sure that this in itself says it all!"

Chris Randall, Chief Executive, Mayo Wynne Baxter: "Nigel Haddon delivered an excellent and entertaining pricing workshop to the firm which convinced even the most sceptical people in the group that there were some really positive benefits that could be achieved by using some of the ideas presented to us. Nigel has the advantage of speaking from experience and with the authority of knowing that with the right approach, and using the techniques he spoke about, considerable progress can be made in achieving better results for us and our clients."

Chris Murratt, Finance Director at Actons: “Having recently organised for Burcher Jenning’s pricing skill workshops to be delivered to senior colleagues, the team and I were delighted with the results and the insight gained. Our main purpose was to achieve expert guidance on our pricing strategy to remain in line with our clients’ objectives and needs. The event provided that and more. Nigel Haddon, who led the workshop was an excellent and enthusiastic presenter who clearly talked from broad practical experience, and kept everyone engaged throughout. The personalised approach offered by Burcher Jennings was invaluable as the workshop was tailored according to what would work best for our firm’s offering to all our valued clients. Putting what we discussed into practice has resulted in happy clients and happy lawyers and we are consistently offering bespoke solutions to clients which has strengthened our relationships with our clients.”

Chis West, CEO at Gillespie Macandrew LLP, Edinburgh: "I was made aware of the Burcher-Jennings approach through two contacts working in the legal services sector in 2015 and we invited Nigel Haddon to present a “taster session” on law firm pricing to our Partners and Associates in January 2016. He very successfully engaged those present with his effective, relatively gentle, challenging style and quickly got beyond the scepticism into areas where we could see the real opportunities. So much so that his session received the highest feedback ranking of the various sessions we had run at that Conference. We then engaged Nigel to run a 3-day pricing masterclass for us in early June. He did this with a good balance of asking, prompting and telling and I don’t believe anyone felt other than positively engaged with what and how he explained the tools, techniques and options. He knows his subject matter very well and gets it across very well using both his own experiences as Managing Partner and his skills as a trainer. We have only just begun to start implementing some of what Nigel got over to us but the benefits are obvious. I would have no hesitation (other than selfishly to avoid more firms in our market gaining the same insight!) in recommending Nigel to deliver a very effective course extremely well to anyone involved in professional services."

 For further information please contact Martyn Jennings, martyn.jennings@burcherjennings.com, 0870 7777 100.