• Legal Counsel Plan

Signet™ General Counsel Legal Service Plans Changing in 2017

by Noel Bagwell
for ExecutiveLP®

November 29, 2016

A Revolutionary Approach to Outside General Counsel

It took me four years to write this article. It’s been a long time coming; so, I hope you’ll give me a few minutes of your time to tell you about our amazing new 2017 Signet™ General Counsel legal services.

As I mentioned in another recent article, our new 2017 Signet™ General Counsel legal service plans replace the single option we have had in our 2016 Menu of Services. We now offer a greater variety of service plans, a more scalable pricing formula for Signet™ General Counsel, and improved synergy between our Business Formation and Signet™ General Counsel legal service plans.

Beyond Time: Value-Based Pricing

A large part of the reason small businesses often refrain from hiring a lawyer is because lawyers charge for time, but businesses want results, improved profitability, and increased efficiency–in a word: value. Value-based pricing is surprisingly difficult to develop for legal services, because they are costly and complicated to provide to clients. Determining what legal services are worth is actually pretty hard.

Over the last four years, I have developed for my firm, Executive Legal Professionals, PLLC, a proprietary value-based pricing formula for Outside General Counsel services. This is unlike anything used by any other firm. Our clients benefit from this pricing methodology, because it enables us to deliver the legal services they need at a price that fits their business.

At ExecutiveLP®, our focus is on providing value to our clients, because we understand their priorities and because we want to be the lawyers who support their businesses for years to come. That won’t happen, if they’re just buying our time. From a lawyer’s perspective, Outside General Counsel should be about more than just billable hours. It should be about the relationship between a business and its lawyer, a relationship in which the lawyer is invested in the business’s long-term success. That’s what our unique business model is designed to create.

Incidentally, this is why we don’t require long-term contracts. You can sign up for one of our Signet™ General Counsel legal service plans for a term as short as 90 days. While we offer longer terms (the standard is 1 year, and some businesses choose multi-year agreements), we understand the need to try something out before you make a long-term commitment. So, our initial term of 90 days is like a test drive, giving you an opportunity to try the service for a short time before making a bigger investment in preventive legal services.

So, forget about retainers and hourly billing. Don’t worry about long-term contracts. We don’t need hooks, gimmicks, or tricks. Instead, we offer the Outside General Counsel legal services your business needs for a regular subscription fee. It’s elegantly uncomplicated.

Affordability & Scalability: Pricing that fits your business like a glove.

In providing packages of ongoing General Counsel legal services to businesses for a regular subscription fee, one of the biggest challenges was taking the value-based pricing formula we use and making it scale properly based on the size of a business.

Back in 2014, when we first launched our General Counsel services, it was called the Executive Entrepreneur™ Series of legal service plans, and there was a base fee, plus a monthly fee. This structure was not well-received, and just didn’t work. So, I went back to the drawing board.

RELATED ARTICLE:  Business Formation: Forming an LLC (Limited Liability Company)

In 2015 and 2016, we launched the first version of our Signet™ General Counsel legal service plans. We got rid of the base fee, and for a regular subscription fee–Annual, Quarterly, or Monthly–clients have had access to a package of legal services. This was much better than the old Executive Entrepreneur™ approach, but there were problems with it. Specifically, it didn’t scale well for larger businesses. This fall, I fixed the scaling formula, and now it scales properly, no matter what size of business client we’re serving.

Plus, we now have three tiers of Signet™ General Counsel legal service plans: an Essentials plan for start-ups and micro businesses, the Advantage plan for most small businesses, and the Ultimate plan for businesses that want our most robust preventive legal solution. Now, with more variety and better scaling, our General Counsel legal service plans will tailor themselves to your business like never before.

Truly Unlimited OGC Service

The most exciting of the new three-tiered Signet™ General Counsel plans is our Ultimate plan, because, when it comes to Outside General Counsel service, it doesn’t get much better than this. While none of our General Counsel legal service plans include the kinds of legal services provided by specialists, our Signet™ Ultimate General Counsel plan includes the General Counsel legal services businesses need, including ancillary services; so, you won’t have to worry about out-of-plan service charges for any General Counsel legal services.

The Signet™ Essentials and Advantage plans offer discounts on ancillary services, but some ancillary services are not included in the standard legal service plan. With Ultimate, you get everything–including ancillary services–included in your Signet™ General Counsel plan. It’s like getting unlimited minutes and data in a mobile phone service plan. With Ultimate, the extras are included. It’s pretty sweet.

The Best of 2017 Without the Wait for the New Year

Best of all, our clients can expect to benefit from these refinements immediately, as we continue to provide the 2017 pricing options for the rest of 2016. Our new 2017 Menu of Services will be released on January 1, 2017, after which time the old 2016 legal service plans will no longer be available.

Our firm is committed to continuing to listen to our clients (and those who don’t ultimately hire us) to constantly improve the way our firm serves entrepreneurs and businesses. That is why these changes are very exciting for us and our clients. If you’re considering starting a new venture, or if you are interested in business legal services for your enterprise, please reach out to us, and schedule a no-obligation consultation, today.

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