Tim Johnson and Dave Hyams, co-founders of Longship Legal, discuss their innovative approach to legal services, focusing on subscription and fixed-fee models instead of traditional billable hours. They explain how this shift has allowed them to align better with their clients’ interests and provide more holistic business support. They emphasize the importance of treating law firms as businesses, highlighting the need for proper planning, pricing strategies, and understanding market dynamics.
Tim and Dave describe how moving away from billable hours has improved their work-life balance, allowing them to be more present in their personal lives and more strategic in their business operations. They discuss the concept of time blocking and how it enables them to manage their workload more effectively, leading to increased productivity and satisfaction.
Tim and Dave share insights on marketing, sales, and client relationships in their subscription-based model. They note that clients generally respond positively to their pricing structure, appreciating the predictability and alignment of interests. They also touch on the challenges of running a business, including the need to continually learn and adapt. Tim and Dave stress the importance of understanding clients’ business needs and providing value beyond just legal advice, positioning themselves as strategic advisors in the intellectual property space.
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