Free Reading Material

Some “Friendly Skeptic” Questions to Appraise a Strategic Plan What special capabilities do you plan to have that your best competitors cannot match? Why can’t they match them? What actions will you take to put these capabilities in place? In what way are your investment priorities likely to be different from those of the competitors? … Read more

There is a second problem with top down, firm wide strategic planning. If a central group (however formed) develops a vision of how to compete, then, as noted above, there remains the task of “persuading” the rest of the partnership to implement the prescribed course of action. It is on this rock that most professional … Read more

A good coach recognizes that coaching is a continuous process and does not “save up” feedback and performance guidance for a once-a-year grand counseling session. Constructive feedback and suggestions are much more likely to be accepted and hence be effective) if they are offered in small increments. Similarly, if counseling advice is given long before … Read more

I once interviewed the managing partner of a large office of an international professional service firm. I had been told that, without changing personnel or investing extra funds, he had converted a number of the firm’s declining and demoralized branch offices into flourishing practices. I was eager to learn the secret of his success. Would … Read more

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