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:
Source: Laura Empson, "How to Lead your Fellow Rain-makers: Collectively, dynamically - and very carefully", HBR Mar-Apr 2019, pp.114-123
- 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.
- 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.
- NEGOTIATE PERPETUALLY: Strike a balance between allowing plenty of autonomy / entrepreneurship, while also asserting control at appropriate moments and circumstances.