By Ron Baker, Founder, VeraSage Institute

article-hourly-billing-the-democracy-of-the-deadYou are what you charge for. A business is defined by little else. Your price speaks volumes about your value proposition, more so than any other component of your firm’s marketing.

Yet law firms seem to believe they are defined by their “hourly rates.” It is as if we took our (and our firms’) collective intelligence, experience, judgment, training, wisdom, knowledge, and commoditized them into a one-dimensional hourly rate. From a marketing standpoint, this is a mistake. Once you understand that clients, emphatically, do not buy hours, it becomes self-evident that pricing by the hour is precisely the wrong measurement to use to ascertain the value created for the client.

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