EP3: The End of the Billable Hour | Ben Deverson, Law Organised

80% of legal work is still billed by the hour, and Ben Deverson thinks that ends within three years. How to grow a law firm when the pricing model underneath it changes.

Ben isn't a lawyer, and he says that's the point. He spent 30-plus years across professional services, including a stint as managing director and equity principal of a boutique law firm in Brisbane, and now runs Law Organised, a consultancy that only supports the legal profession. He sits across the table from firm owners every week.

His view on what separates the good firms from the rest: the best ones are boring. Systemised, documented, with every matter flowing through the firm the same way. Like a marching band, in his words.

We also get into the shape of the Australian market. Around 80% of firms are owned by a solo principal. The top 50 employ 21% of all private practice solicitors but make up 1% of the market. A quarter of women in partnership hold actual equity. And a large cohort of owners over 65 will exit the profession in the next five to ten years with nobody obvious to sell to.

What we cover: ● Why the best law firms are boring, and the marching band analogy ● The difference between owning a firm and buying yourself a salary ● The real shape of the market: 80% solo principals, 1% big law ● Partner in name only, and the 31% equity gap ● The rise of the female-led microfirm ● Succession, and the owners over 65 heading for the door ● Why 80% of services are still hourly, and why he says that becomes a minority within three years

Guest: Ben Deverson, Law Organised LinkedIn: https://www.linkedin.com/in/bendeverson/

Connect with Kim on LinkedIn: https://www.linkedin.com/in/kimwiegand/

Capital + Counsel is about capital, governance and technology reshaping the business of law.

------- 0:00 Intro 1:44 He's not a lawyer, and he says that's the point 1:59 Why the best law firms are boring 3:03 Legal operations matter more than technical skill 4:52 From boutique law firm CEO to Law Organised 5:40 Why the top 50 sucks up all the oxygen 6:35 The real shape of the market: 80% owned by a solo principal 7:52 The rise of the micro practice 8:55 How to grow a law firm deliberately 10:23 Growing in spite of yourself, and becoming the bottleneck 11:40 Why 95% of new firms set up as an ILP 14:26 Moving between structures, and how easy it actually is 15:06 A record number of women in partnership 15:52 Partner in name only: the 31% equity gap 17:42 Removing yourself from your own firm 18:11 Documenting every function, down to how mail is sorted 20:32 People buy people, not lawyers 26:14 Flexibility, and what it actually means 30:10 Remote staff for regional firms, and why it isn't offshore 35:01 The mammal problem in legal 35:27 Succession and the partnership model 38:39 What a law firm is actually worth 40:09 Advising firms through succession 44:07 Systems, processes and the marching band 49:55 Why 80% of legal work is still billed by the hour 50:18 The three year prediction 56:31 Why the mindset shift takes longer than three years 57:10 Law firm owners and outside investment 60:56 Backing smaller firms with capital and know-how 64:16 The rise of AI-native law firms