Traditionally, admission to partnership in a professional firm has brought with it a complex bundle of rewards: Equity Participation. Partners share in the net profits (or losses) of the firm, while non-partners receive salaries and perhaps bonuses. Tenure. In most situations, partners cannot be removed except by an extraordinary vote of the partnership Autonomy. Whereas … Read more

There is nothing wrong with powerful partners lobbying to get the best possible staff for “their” projects – indeed they should act this way. But someone needs to be on the other side of that discussion, thinking of the good of the practice as a whole, asking such questions as “Why do you need the … Read more

In the management of professionals the supervisor should be very clear on the what (“provide clear goals”), spend only the bare minimum of time on the how (“involve them in decision-making,” “provide autonomy”) and spend a lot of time on the why (“provide meaning”). Excerpted from ‘Managing the Professional Service Firm’ by David Maister, page … Read more

Motivational “Maintainers” 1 Provide clear goals 2 Give prompt feedback 3 Reward performance quickly 4 Treat them like winners 5 Involve in decision making 6 Seek their opinions often 7 Provide autonomy in work 8 Hold accountable for results 9 Tolerate impatience 10 Provide varied work opportunities 11 Keep them aware of upcoming challenging goals … Read more

All professionals must have had the following experience: You are responsible for a piece of work about which you just cannot seem to get excited. It is not that the task is too difficult, too easy, or even inherently uninteresting, just that the spark is not there. Nevertheless, being dutiful, you sit at your desk … Read more

In a variety of contexts, I have asked members of professional service firms to write down what they have learned from their activities over the past year that has made them better at what they do – to identify something they learned about serving clients, managing projects, or approaching certain matters in a new way. … Read more

One senior professional puts it this way: “If I want to help my people acquire the skills I have, I must get them involved in planning the work, understanding how their task fits in, and interpreting the discoveries made as the project unfolds. There is no use in their sitting in on client meetings unless … Read more

“The problem, you see, is this. I’ve had lots of interesting experiences, but I’m not sure I’ve figured out what they taught me. I’ve had my share of successes, but I’ve never paused to reflect on why that particular assignment went well – I was always too busy dashing on to the next assignment. And, … Read more

As I worked to address these problems in subsequent years, more harsh realities about professional life became evident. Unfortunately, I discovered that it was harder to generate asset-building work than to sell what I was already known for, already had methodologies for, already had written articles about, already had references for. If I took the … Read more

I was not only very busy (“highly chargeable”), hut, because I was being hired to do things that I already had a reputation for, I had relatively few problems with fee levels (I had a “high realization percentage). I made a lot of money, more than I had hoped for. All seemed to be going … Read more