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John Chisholm is a "recovered lawyer" who has been advocating for alternatives to the billable hour model in the legal profession. Chisholm shares his journey, starting as a third-generation lawyer who eventually left the traditional law firm system.
Chisholm explains that when he first started practicing law in the 1970s, there was no time-based billing - the firm would simply agree on a fee with the client before sending the bill. He was later tasked with implementing time tracking and hourly billing, which he didn't enjoy. Chisholm believes the billable hour model is an "artificial and bizarre way" of doing business.
After leaving law firm life, Chisholm discovered the concepts of value-based pricing and subscription models through his interactions with accountants and consultants like Ron Baker. He believes these alternative approaches are better for both lawyers and clients, fostering stronger relationships and a more collaborative culture within firms.
Chisholm is critical of the legal profession's resistance to change, arguing that lawyers have “put the performance of an individual over the performance of a firm.” He sees subscription models as a way to return to a more holistic, “cradle to grave” relationship between lawyers and clients, providing ongoing value rather than just handling transactions. Overall, Chisholm advocates for lawyers to embrace new business models that prioritize outcomes over billable hours.
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Learn about John Chisholm.
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