Value-Based Fees. Alan Weiss
are legitimate and obvious ethical reasons not to use time units for billing bases.
Profitability should not be arbitrarily delimited by finite measures of time, materials, deliverables, or costs.
Other professions do it incorrectly. Why would you want to emulate them?
The buyer is educable, and you are the teacher. Don't abdicate that huge responsibility.
The average attorney's income is barely above $100,000 annually. Successful people drive cars that cost more than that. What model are you using as your income paradigm, and what model car are you driving?
NOTES
1 1. McGraw Hill, 6th edition, 2021.
2 2. The first management consultant was probably Frederick Winslow Taylor, the founder of time and motion studies and the author of Principles of Scientific Management (which wasn't so scientific at all). He worked in the early part of the twentieth century, his oeuvre being published in 1911. The first management conference was held in 1882 by the German Post Office. No one showed up.
3 3. I know there are many of you saying, “Yes, but honorable people wouldn't do that.” Maybe, but honorable people regularly cheat on their taxes, cross the street against the light, and rip off the phone company simply because an opportunity presents itself and the incorrect action is only a brief rationalization away (what's the government done for me lately, there's no traffic that I can see or can't outrun). We need to eliminate temptations that lead to unethical behavior, not expect that everyone will act honorably.
4 4. Of course, major organizations need business plans to show the shareholders that management is fiscally responsible, but they also put out beautiful annual reports that have nothing whatsoever to do with the actual business. No one should manage against a business plan for fear of hitting it and missing untold opportunities.
5 5. https://www1.salary.com/Lawyer-Salary.html
6 6. The American Institute of Architects was a client of mine for several years, and this was perhaps the major concern of the association and the membership.
7 7. One of the funniest skits I've ever seen was a pseudocommercial on the NBC show Saturday Night Live in which Phil Hartman was a pitchman for a bank that only made change, nothing else—no loans, no mortgages, no investments, only change. “I know what you're wondering,” he would deadpan into the camera. “How can we do it? The secret is one word: volume.”
8 8. With the exception of Louisiana, which follows the French.
9 9. https://www.accountingtoday.com/opinion/how-much-do-accountants-and-cpas-really-earn
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