P3 - which stands for pricing, project management and practice innovation - was founded in the US in 2011 by Tony Brown, now chief practice officer and part of the senior management team at Akin Gump. He says: ‘My go-to question [for clients] is, ‘A year from now, what will fee success look like for you? What are the pressures from your leadership to save money?’ It can come in many forms. What I’m really trying to find out is what are the driving factors with the client? Most say they want to save money but that can take many different shapes. I’m trying to uncover what the driver is.’
Tip of the sword
P3 is now part of the Legal Marketing Association. Mr Brown says: ‘It’s a little fast and furious right now,” he said. “I see the pricing function as the tip of the sword, the catalyst for change in our industry right now.’ Source: Washington Post
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