The Firm Of The Future: A Radical Business Model For Professional Firms

Date: 08/03/2011

Death to the billable hour: that's the catchcry of a crusader who's out to change the business model of professional services firms

It's been in existence for a hundred years, but its time has come. That's how think-tank founder and author Ron Baker, of California's VeraSage Institute, sees the billable hour/timesheet business model for professional firms. He argues that clients don't buy time, they buy knowledge, results, outcomes, and value pricing is the way forward - it's what clients expect in all their other business dealings. His business model is built around profitability and effectiveness, leveraging intellectual capital, not time and people.