Weather seemed to factor into almost everyone’s travel into Chicago last week for the P3 conference, and unfortunately, it resulted in the cancellation of our keynote speaker for the morning. Instead, we were treated to an open and interactive discussion – as one of the speakers joked "We wouldn’t be business leaders if we didn’t know how to adapt."
And adapt they did – had we not known the schedule in advance, you never would have guessed that the session wasn’t well-thought out and planned.
Challenges for the People of the Three P’s
The main challenge to pricing is the obvious one: overcoming culture and history to make these changes within our firms. Setting a price and managing costs are two different things, but both of them have this same challenge of getting lawyers on board. Lawyers want to press an "easy button," but it’s more complex than that.
Wrapped up in this challenge is another one – that of being able to empower our attorneys to say "no." Firms don’t have to agree to pitch everything that comes in the door (and shouldn’t). But there must be sound business reasoning behind these decisions.
Continue Reading P3: Project Management, Pricing & Process Improvement – An Open Discussion