Moving Away from the Billable Hour

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Episode Summary:

The billable hour is something attorneys have used since the beginning of time. But the times are changing rapidly and the billable hour has become even more difficult to sell to clients. So, is the billable hour actually dead? What are some other options attorneys can explore to be more adaptable to clients' needs? What is subscription-based billing and how can it help your practice? Modifying your billing model could be the key to increasing client satisfaction and generating more consistent revenue for your practice.

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Heather Satin, JD

About The Guest:

Heather Satin, WealthCounsel's Executive Editor for Business Docx®, is a business development attorney who has devoted her career to solving problems for lawyers and the clients they serve. She is dedicated to elevating the profession by creating products that help practitioners save time, grow their practices, and enhance the lawyer-client relationship.

Episode Details

Episode Key Points:

(00:25) - Is the billable hour really dead?

(02:56) - So what’s wrong with the billable hour?

(04:04) - What about the flat fee?

(08:41) - So the flat rate is the solution?

(12:30) - Can the flat fee live alongside the billable hour? Is that a recipe for disaster?

(15:20) - What are other billing models that can work?

(23:23) - What type of software do you use to set up these models?

(26:36) - Closing comments

Episode Takeaways:

Want to learn more from Heather? Don’t miss her two courses at Symposium 2017, October 3-6 in sunny Hollywood, California. Check out “Practical Business Law - Practice Development and Drafting” and “What's New and What's Coming in Wealth Docx® and Business Docx®.”

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