The Expert Team
Shaun Jardine – Value Pricing and Profitability
Evolving the pricing model and moving away from the billable hour.
Details
Name: Shaun Jardine Firm/Organisation:
Big Yellow Penguin Ltd
www.bigyellowpenguin.co.uk
Role/Job Title:
Managing Director Email Address:
shaun@bigyellowpenguin.co.uk
Telephone Number:
07866447603 Social Media Handles:
@mediationshaun
https://www.linkedin.com/in/shaunjardine/
What Shaun Does for Law Firms Shaun helps law firms take a new look at their business models in two ways:
1. A2Z - Law Firm Anatomy. A detailed discussion template which is used with a leadership team to look at, discuss and reflect on the manner in which a law firm is currently operating.
2. Value-based pricing (VBP) training/implementation.
Make more money and have happier lawyers and contented clients by ditching the billable hour and embracing value-based pricing.
How Does it work?
A2Z
The A2Z discussion list is currently a 40-page document, divided into 26 sections and has over 200 questions to consider.
Those who participate in the A2Z exercise are asked to rank which items are important to them and suggest their own time scales for when action may be taken.
VBP
Value based pricing training is tailored to each firm.
Training is delivered on site and remotely.
Project sessions, outputs, and the timescales for delivery are agreed.
Shaun has created an 8-step infographic which explains the stages of the process which is available free of charge.
What do Firms Get? A2Z
An extensive "to do list" is created by the user- not Shaun.
The ensuing A2Z conversation which takes place is collaborative, positive, will involve asking of lots of questions, but aims to celebrate success and suggest some alternative courses of action and options. The aim of the A2Z conversation is to empower and enthuse leadership teams.
VBP
• Tools and know-how that allow lawyers to create their own fixed price agreements and have the confidence to use them.
• The tools are bespoke to client firm and mirror their strategy
• Feature the firm's people, brand, and vocabulary
• Reflect the firm's structure
Outputs include: -
• Staff who understand the value they create and are proud of doing so
• Staff who can communicate the value they create
• Staff who understand pricing will help deliver the firms strategy
• Increased profitability and improved bottom line
• Happier lawyers
• Happier clients
Who needs to be involved?
A2Z- Leaders and Senior management team
VBP- Leaders and senior management team and also other members of the firm (all levels) who are enthusiastic and committed to change. Initially a pilot/champions team is created.
Which firms will benefit? A2Z
Law Firms with ambitions to examine the way they operate and explore whether there are alternatives (A2Z)
VBP
Firms who desire to Remove the artificial fee cap imposed by the billable hour (1400 hours x hourly rate = target) and increase their bottom line.
Additional information:
Work is delivered on project basis.
Shaun also acts on a retainer basis.
One law firm owner who recently (May 2022) received the A2Z discussion document commented,
"Wowser! Brilliant document- unreal...I feel like it is really going to help me get back on track a little and gain some much-needed focus."
Biography
Shaun Jardine is a solicitor, former equity partner/ Law Firm CEO (Brethertons LLP), Commercial Director and has led large litigation and volume debt recovery teams. He understands how lawyers and law firms work.
Shaun has spoken about change management at conferences in the UK and USA. He is one of the few law firm management consultants who has "been there and done that" when it comes to value-based pricing as he designed and rolled out a successful value-based pricing project at Brethertons LLP in 2021.
"Shaun's greatest achievement was the production and roll out of the value pricing programme across the firm. His energy and sense of purpose are infectious. People absorb that energy and make things happen."
Alison McCormack. CEO - Brethertons LLP
Shaun has, over the last six years, built a network of pricing law firms/know how and brings a wealth of knowledge from firms all over the world including lawyers in the USA and Australia, all of whom have successfully ditched the billable hour.
He is a regular speaker at industry conferences and contributes to a number of on line resource legal training providers including the Law Society of England and Wales , Institute of Legal Financial Management, For Legal and the Sole Practitioners Group.