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Law Firms

The Mad Clientist

Is $5,000 an Hour Next?

The bull market in high-end work makes hourly rates defy gravity.The dramatic increase in clients’ need for complex and bet-the-company work is bad for clients but downright awesome for law firm rates. The highest rate in the market now commands 2.9 times the average rate clients pay. Clients* give BTI…
Michael Rynowecer
May 11, 2016
The Mad Clientist

The 22 Law Firms Best at AFAs

Top legal decision makers identify 22 of the 650 law firms serving large and Fortune 1000 clients as absolutely best at developing and implementing alternative fee arrangements*, and shared 6 reasons these firms stand out:Partners have authority to enter into an AFA quickly. These partners do not have to wait…
Michael Rynowecer
April 27, 2016
The Mad Clientist

AFAs Soar to an All-Time High

The votes are in. Clients are loving AFAs. And we’ve got the data* to show just how much:Alternative Fee Arrangements (AFAs) now account for $21.3 billion of outside counsel spending in 2015, up from $13.1 billion in 2013. AFAs are the biggest growth market around—registering a 19.8% compound annual growth…
Michael Rynowecer
April 20, 2016
The Mad Clientist

The Real Disruptor Changing The Legal World

Partner compensation rules are being broken as we dismiss and explain away the money being thrown at top partners to lure them away from once untouchable firms—Quinn Emanuel grabs partners from Skadden, Kirkland grabs a top rainmaker from Winston & Strawn, and just last week Paul, Weiss picked Scott Barshay…
Michael Rynowecer
April 13, 2016
The Mad Clientist

12 Steps to Charging Whatever You Want

The GC of a global giant shared this gem during a client feedback interview: “I have on my desk right now yet another invoice which will require interpreters and a Sherpa to decipher and see if I should pay.” 80.1%* of clients think like this GC—questioning the value of their…
Michael Rynowecer
March 9, 2016
The Mad Clientist

The Business Development Blind Spot

You may be overlooking the silent race for business few law firms ever see or pursue.Market leaders stay ahead of competitors by sniffing out client pain and removing the sources of discomfort from their clients’ lives on a continuing basis. Your ability to do this before everyone else offers you…
Michael Rynowecer
March 2, 2016