I recently posted about Tom Kane suggesting to Jay Shepherd that he needed to maintain timesheets in order to determine cost and profit margin per job.
I wrote in my post that if the Shepherd Law Group was smart, it would ditch timesheets. Well, it has, according to Jay Shepherd himself.
Jay weighed in with his own response to Tom Kane. It made my day—I’ve been called a lot of things over the years of arguing for the total elimination of the billable hour and timesheets, but never have I been compared to Martha Stewart:
Ron Baker is the founder of VeraSage Institute, a think tank dedicated to helping professional-service [knowledge] firms rid themselves of archaic billing practices. He is the author of Professional’s Guide to Value Pricing, which is the ultimate hornbook on the subject. Having Ron publicly defend your billing practices is like having Martha Stewart compliment your table setting (only without the whole jail thing).
Thanks Jay, LMAO! You always say you owe me dinner when I’m in Boston. Well, I owe you the second one.
Congratulations again on your firm’s decision to blaze the trail for others.