(Editor’s note: This is the second part in a series. Last week we examined whether the billable hour gives mid-market firms a competitive advantage and whether they should move away from it. This week we look at how firms should approach their clients about AFAs, and how they should handle moving more away from the billable hour).
The billable hour presents a bit of a dilemma for midsize firms, because in some respects it gives them an advantage against big firms, and the core of their client base may not be asking for anything different. But does that mean these firms should ignore alternative fee arrangements and avoid raising the topic with clients?
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