It’s simple: Change your business model. Improve your profitability.

When we talk about your “business model” we are really talking about how you make money. The predominant business model in the legal profession is based on the billable hour. This model has worked in the past. However, the practice of law is changing rapidly.

Today’s lawyers no longer have a monopoly on the law.

We face competition from a variety of non-traditional sources. The billable hour model is being challenged by online legal do-it-yourself websites, virtual law offices, the commoditization of some legal services and a record number of practising lawyers. Many lawyers are reacting by discounting their hourly rates and working longer hours further eroding margins and profitability.

But, ultimately, lawyers will not be able to effectively compete with these challenges on the billable hour model. There is a better way; an optimal business model. This business model is not based on the billable hour. It is about value based pricing. Value based pricing is now the most highly recommended pricing model by leading consultants and academics alike. A large percentage of lawyers would like to adopt this model but do not know how to do so quickly and cost effectively. Our Timeless Advantage Educational Program is an online, self-paced course that shows you the concepts and practical application of adopting value based pricing (or what we call “Timeless Pricing”).