At Exemplar, we always talk about value pricing and generally about the inherent integrity in a pricing model is designed to arrive at a price that is fair to both sides. But no matter how equitable your model, you just can't beat the Pareto Principle -- the principle that your top 20 percent of customers drive 80% of your revenue and your bottom 20% produce 80% of your unprofitable deals, complaints, write offs, etc! We all know that they can sometimes go by the name: "CHEAP BASTARDS!" Fortunately for Exemplar, since we determine a fair price in advance together with our customers (unlike our billable hour counterparts in the profession)we get to identify and weed out these leaches in advance, but for many companies these customer can be the bane of their existence. Fortunately, now that you are know the Pareto Rule you can identify the customers who do not value what you do and send them to your competition (who will not likely see it coming!)
At Exemplar, we identify and eliminate these customers like the game "Duck Hunt" on the original Nintendo! So, the next time you are hunting for revenue and meet one of these customers, remember that the goal of being in business is to be profitable, not to have revenue or even another customer! If you price on value, it is important to make sure your customers value VALUE! For the billable hour folks who didn't find out in time to not let them hire you, get your pencils out because it's "Write Off" time!
Sunday, July 05, 2009
Monday, March 16, 2009
Will the Legal Entrepreneurs Please Stand Up?
Who is growing now? It's payback time for traditional firms -- they played the game for decades of outplacing attorneys into in-house roles to get business and treating them like second class citizens while running up enormous bills as an ode to Karl Marx's Labor Theory of Value. Finally, the balance of power has shifted and the need to preserve shareholder value has caused in-house counsel demand respect and pressure their firms to stop over-lawyering everything! In turn, the AmLaw 100 firms are laying off thousands of young attorneys while Partners refuse to reduce their pay from $3Million per Partner to $2.8Million per partner in order to stay loyal to their people! Who is growing now? While most law firms are cutting back significantly, Exemplar has more than doubled. Nobody can afford to write their attorney a blank check and offering fixed, value-based pricing is not about being cheap, it is about being transparent with your customer. It is simply good business.
In this case, the market is speaking for itself. That being said, we are growing. . . and in spite of news reports with BigLaw managing partners crying "The Billable Hour Must Die" as a PR stunt with no signs of change in sight, Exemplar is dedicated to change, caring about its people and their growth, and a successful and truly meaningful career path for the legal entrepreneurs that serve within our walls and a a vision for the future of the profession! So, for the followers in the industry, please just keep watching. For the leaders who are ready to roll up their sleeves and build the firm of the new economy, I welcome you to check out what Exemplar is looking for in our ranks!
No Hourly Bull!
Innovative High-Touch Business Law Firm Seeking Legal Entrepreneurs in Growing Firm
About the Firm:
Exemplar Law was founded as the first corporate law firm in the nation to abandon hourly billing in favor of a fixed, value-based pricing model. Dynamic and growth oriented, Exemplar now serves clients in all areas of corporate/business law across the nation and we are poised for fast growth. Exemplar is seeking leaders who are motivated by being an active part of building a leading innovative national firm built on a new paradigm. Exemplar has a strong collaborative and team-based culture and a value system that is built to last. The Vision of the organization is to provide the most premiere and horizontally-integrated services in the professional services marketplace in the new paradigm of Value-Based Pricing and to be the most desired legal employer in the nation. While Exemplar serves mid-market clients nationally, Revolve, an Exemplar Family Company, serves companies exclusively from the start-up through exit phase of the business.
About the Right Candidate:
• The right candidate has a long-term time horizon and is primarily motivated by actively participating in the building of the premiere International Firm of the Future.
• Self Identifies as someone who will take risks for something they believe in / Is an Entrepreneur
• Has business experience, education, or extreme business savvy
• Is Socially Savvy and interested in business development, client development, and networking
• Has a well-rounded business law background/interest in diversified business law practice and core skills
• Has a fundamental understanding of the flaws of the billable hour model and passionately believes that value-based billing is the future of the professions
• Is of the highest character and integrity, and is willing to be held to the highest standards of the values of the firm
• Is a progressive thinker who is not bound by “the way it has always been done”
• Is open minded and interested in both personal and professional development, as well as constructive feedback from colleagues
• Will place the interest of Team FIRST and equates team success to personal success!
• Has a vision beyond mere daily practice of law
• Desires to create something larger than themselves and build equity in the future of the professions
• Is prepared to roll up their sleeves and build a firm!
• Will work hard for something they believe in.
• Is Confident, but willing to check their ego at the door.
GENERAL RULES:
-- NO ASSHOLES
-- NO POOPERS (Yes, even if you clean up after yourself! Go crap on someone else's yard!)
Seeking Leaders in the Following Markets for Exemplar’s Integration Program
Boston, MA
New York, NY
Washington DC/Baltimore
Los Angeles, CA
Application Procedure: (Strict Adherence Required)
All interested leaders shall submit a resume AND, in lieu of a cover letter, please write a statement about your reasoning for applying and what you believe you will contribute the building a progressive and premiere national law firm. Please be as specific as possible and address your contribution in the areas of: New client development, innovative business practices, marketing, practice management, firm culture, as well as your legal savvy. At Exemplar, we care about your unique qualities and are not looking for cookie cutter attorneys. We promise to take the time to carefully read and consider each and every application. Please take the time to carefully craft your letter. (applicants with traditional or non-customized cover letters will be summarily rejected and not considered)
SEND APPLICATIONS TO: HR@exemplarlaw.com
HINTS:
Do your homework. It is obvious who does it and who doesn’t. We are on the web at: www.exemplarlaw.com AND www.revolvethis.com
Differentiate: We are not your average firm and we are not looking for average people.
If you have passion or a unique angle, let it come through. Use a style that works for you.
In this case, the market is speaking for itself. That being said, we are growing. . . and in spite of news reports with BigLaw managing partners crying "The Billable Hour Must Die" as a PR stunt with no signs of change in sight, Exemplar is dedicated to change, caring about its people and their growth, and a successful and truly meaningful career path for the legal entrepreneurs that serve within our walls and a a vision for the future of the profession! So, for the followers in the industry, please just keep watching. For the leaders who are ready to roll up their sleeves and build the firm of the new economy, I welcome you to check out what Exemplar is looking for in our ranks!
No Hourly Bull!
Innovative High-Touch Business Law Firm Seeking Legal Entrepreneurs in Growing Firm
About the Firm:
Exemplar Law was founded as the first corporate law firm in the nation to abandon hourly billing in favor of a fixed, value-based pricing model. Dynamic and growth oriented, Exemplar now serves clients in all areas of corporate/business law across the nation and we are poised for fast growth. Exemplar is seeking leaders who are motivated by being an active part of building a leading innovative national firm built on a new paradigm. Exemplar has a strong collaborative and team-based culture and a value system that is built to last. The Vision of the organization is to provide the most premiere and horizontally-integrated services in the professional services marketplace in the new paradigm of Value-Based Pricing and to be the most desired legal employer in the nation. While Exemplar serves mid-market clients nationally, Revolve, an Exemplar Family Company, serves companies exclusively from the start-up through exit phase of the business.
About the Right Candidate:
• The right candidate has a long-term time horizon and is primarily motivated by actively participating in the building of the premiere International Firm of the Future.
• Self Identifies as someone who will take risks for something they believe in / Is an Entrepreneur
• Has business experience, education, or extreme business savvy
• Is Socially Savvy and interested in business development, client development, and networking
• Has a well-rounded business law background/interest in diversified business law practice and core skills
• Has a fundamental understanding of the flaws of the billable hour model and passionately believes that value-based billing is the future of the professions
• Is of the highest character and integrity, and is willing to be held to the highest standards of the values of the firm
• Is a progressive thinker who is not bound by “the way it has always been done”
• Is open minded and interested in both personal and professional development, as well as constructive feedback from colleagues
• Will place the interest of Team FIRST and equates team success to personal success!
• Has a vision beyond mere daily practice of law
• Desires to create something larger than themselves and build equity in the future of the professions
• Is prepared to roll up their sleeves and build a firm!
• Will work hard for something they believe in.
• Is Confident, but willing to check their ego at the door.
GENERAL RULES:
-- NO ASSHOLES
-- NO POOPERS (Yes, even if you clean up after yourself! Go crap on someone else's yard!)
Seeking Leaders in the Following Markets for Exemplar’s Integration Program
Boston, MA
New York, NY
Washington DC/Baltimore
Los Angeles, CA
Application Procedure: (Strict Adherence Required)
All interested leaders shall submit a resume AND, in lieu of a cover letter, please write a statement about your reasoning for applying and what you believe you will contribute the building a progressive and premiere national law firm. Please be as specific as possible and address your contribution in the areas of: New client development, innovative business practices, marketing, practice management, firm culture, as well as your legal savvy. At Exemplar, we care about your unique qualities and are not looking for cookie cutter attorneys. We promise to take the time to carefully read and consider each and every application. Please take the time to carefully craft your letter. (applicants with traditional or non-customized cover letters will be summarily rejected and not considered)
SEND APPLICATIONS TO: HR@exemplarlaw.com
HINTS:
Do your homework. It is obvious who does it and who doesn’t. We are on the web at: www.exemplarlaw.com AND www.revolvethis.com
Differentiate: We are not your average firm and we are not looking for average people.
If you have passion or a unique angle, let it come through. Use a style that works for you.
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