- Put yourself in your client's shoes and look at the experience of hiring an attorney from their point of view.
- Help your client resolve their legal matter in a timely and affordable manner.
- Invest in technology that will lead to a faster onboarding process and more efficient delivery of services for the duration of the engagement.
The billable hour is far from the end-all-be-all of legal fees. The recommended approach is to use hourly billing as a baseline to be followed up with an easy-to-understand alternative fee arrangement, such as the flat/fixed fee or monthly retainer model.
1. FLAT/FIXED FEES
Flat fees involve a specific, quoted, fixed fee for a specific scope of work for a specific project. If we misjuge the amout of time to complete the scope of work, you don't pay more. If we complete the project very efficiently, we are rewarded.
- No more overhead for law firm bookkeepers to be passed on to clients for time tracking, creating, and reviewing work-in-aprogress reports.
- No more requirement for clients to pore over a sizable invoice that's difficult to understand.
2. MONTHLY RETAINERS
Specific fees are charged monthly for a specific type or subject matter of work. Fees are reviewed periodically and may be adjusted up or down depending on fluctuations regarding the nature of the work.