Leading a Consulting Firm, Law Firm or Accountancy Firm

Leading a Consulting Firm, Law Firm or Accountancy Firm

🔥 Leadership in a professional service firm requires more than energizing followers around a vision. According to Professor Laura Empson, leading a law / accountancy / consultancy firm should be seen as a collective process in which the designated senior partner (leader) must balance three interactive dynamics:

1. ESTABLISH LEGITIMACY: Have the ability to generate lots of revenue (i.e., to be a rainmaker). This means working harder and longer at earning fees than your colleagues. Peers will see you as a role model and are willing to cede authority to you.
2. MANEUVER POLITICALLY: Build consensus among peers and offer them incentives in private to get their support in public. For this possess good networking skills, interpersonal influence, social astuteness and appear sincere.
3. NEGOTIATE PERPETUALLY: Strike a balance between allowing plenty of autonomy / entrepreneurship, while also asserting control at appropriate moments and circumstances.

Source: Laura Empson, "How to Lead your Fellow Rain-makers: Collectively, dynamically - and very carefully", HBR Mar-Apr 2019, pp.114-123

		Comments Sort by date Sort by rating Rating
		2 Sam Cookey Jr CEO, Nigeria
	Leading a Consulting Firm Thanks for this: in practice these three modes are difficult to find in one person. Even if juggled ... Sign up

		2 Jaap de Jonge Editor, Netherlands
	Partners of Professional Services Firms @Sam Cookey Jr: Thank you for your comment. From what I have seen, as Prof. Empson argues, all 3 ca... Sign up

		1 David Stehlik Professor, United States
	Partners in PS Firms $olve Problem$ IMO, #1 makes the foundational point upon which the others can be propped up. If you do #1 well - et... Sign up