Billing by the hour? AI is stealing your cash.
🚨 If you bill by the hour, AI is your enemy – and you’re not going to win that fight.
AI isn’t going to take your job; it’s just going to make you go broke. 💸
I said what I said. 🔥
AI is here – almost unavoidably so. It’s baked into just about every bit of technology you use, including legal tech, and it’s only getting more prevalent. 📈 The chief impact of AI? Making you faster at whatever it is you need to do. ⚡
If you bill by the hour, and you get faster at the work you bill for, then unless you can raise your hourly rates significantly…
🚨 AI IS TAKING MONEY OUT OF YOUR POCKET. 🚨
Until you divorce your fees from the hours it takes you to do the work, AI is going to keep making it harder for you to make a profit. (You don’t have to be a CPA to do THAT math.)
And unfortunately, while all of the legal tech providers are racing to build AI into their solutions, there’s not much action focused on making it easy for lawyers to price their work on a basis other than hours. So really, they’re building in features that are COSTING YOU MONEY. 💸
Are you fired up yet?! Me too!
Good news, though. ✅
10 years ago, @Gwen and I knew we wanted to unchain our profitability from the hourly hamster wheel. 🏃♂️⚖️ We looked for a method we could lean into, and found none. So we built it. 🏗️ It was hard, but SO worth it – because after 10 years of sanding rough edges, polishing, and honing, we know the P3 Method WORKS. 🚀
Case in point: because we use the P3 Method to bill on the basis of deliverables instead of hours at ADVOS Legal, we’ve been able to leverage AI (and all sorts of other tech and tools) to make us more profitable, free up more of our time, and eliminate work we don’t love doing. 🎯
All while delivering incredible value and service to our clients. 💼🙌 We’re not fighting against AI; we’re leaning in, making it our bestie. 🤝🤖
💡 Are you ready to make more money, free up more of your time, and quit doing tasks that annoy you?
Then it’s time to break up with hourly billing. 🚀 Let’s chat about how you take the first step – here is my scheduling link. I can’t wait to connect with you.
To your #PROmance!
Whit
🎩 Hat tip to Clio’s CEO, Jack Newton, whose advertorial in the most recent ABA Journal, headlined: “How Hourly Billing Disincentivizes Innovation in Law Firms”, lit me up. 🔥 (article available to ABA members)
I was sure he was going to announce that Clio was releasing a feature to support a deliverables-based billing method, divorced from hourly billing. 😅 Bummer – I was wrong.
But I’m holding out hope that it’s just because he’s been waiting to get on our calendar to talk about building the P3 Method into his platform. Obviously. 🤣🎯