Last month, the Australian Chief Justice Wayne Martin castigated the legal profession for their continued “hours for dollars” billing practice. In a recent of hourly billing provides an unfair representation of their value.
Although Alan Weiss (my mentor and author of “Million Dollar Consulting”) derided this model more than a decade ago, and I refuse to quote hourly or daily fees, the antiquated, Industrial Age model continues to live among us.
If you are seriously committed to growing your B2B business, and have conditioned your customers to pay you by the hour, don’t be surprised when your company is re-named “The Commodity, Inc.” Start updating your resume.
Yes, some of my best friends are attorneys, CPAs, and consultants who still charge by the hour. Sorry, friends. Welcome to the new normal.
For more details on Martin’s pronouncement, visit http://tinyurl.com/aussielaw