Posted by Allison Shields: "An article recently appeared in the Wall Street Journal discussing how businesses can use the old adage, "time is money" when it comes to developing their products and services. (The Wall Street Journal, Beat the Clock: How companies can use time to their competitive advantage, Paul F. Nunes, Geoffrey Godbey and H. James Wilson, October 26, 2009, p.R6.)
Although lawyers are used to thinking of "time is money" in the context of the billable hour and the lawyer's time, the article contemplates creating a competitive advantage by considering ways to save the client's time or remove unenjoyable, time consuming tasks from the client.
There has been a lot written lately about how to save clients money during this economic downturn, and one strategy is to unbundle legal services or to allow clients to bear the burden of taking on some of the work in order to reduce the time the lawyer spends on a matter, and therefore to reduce the fee. This may allow a client to choose the level of time they want to devote to a matter and the correct mix of time and value for them. But some clients may prefer that you do the work for them - even in the case of activities or tasks that might traditionally be allocated to clients..."
Continue reading this interesting post at the source site listed below.
Source: Legal Ease Blog, 13 November 2009
