Slide 1

Leadership in the professional service industry

Why is leadership in the professional services industry different?

Rare blendSuch firms face unique challengesTougher to retain talentVery demanding clientsIncreasingly competitive environmentThis forces you into managerial roles rather than leadershipUnless company leaders function in a trueleadership capacity, the business may not survive

Key functions for leadershipVISION

Leaders are often ineffective because they focus on day-to-day demands rather than long-term goals and directionThis is especially true in firms with high associate turnoverUnless you consistently communicate the companys objectives and direction, staff will be unable to help you achieve your goals

Key functions for leadershipBUY-IN

Leaders solicit support for the vision withinAlthough focused on their craft, professionals want their input to be solicited and incorporated in the firms visionIf that doesnt happen, they become alienated, cynical,exit-proneBe inclusive and your associates willturn into your valuable partners

Key functions for leadershipFOLLOW THROUGH

Someone has to hold staff accountable for achieving goalsIn professional service firms, that job is the leadersEnsure professionals dont become so focused on projects that they miss the larger goalsBalancing accountability with healthy work relationships is difficult, but necessary

Key functions for leadershipROLE-MODELLING

Successful leaders are role modelsLead by example, embody business core valuesYou need an impeccable record If you expect others to follow through on their responsibilitiesPersonal integrity is key.Associates wont follow a leader they dont respect

HOW TO DO IT

LEAD MORE, MANAGE LESSIn this knowledge-driven economy, people should be more empoweredClose supervision, control, bureaucracy kill the spiritDont withhold informationInspire, empower, get out of the wayYoull be amazed by how much people will do when they are not told what to do

SIMPLIFYEliminate clutter. It makes for faster, better decision-makingDont make business tougher than it isThink simply to create a clear visionMake your messages simpleSimplify communication and meetingSimple messages travel faster, simpler designs reach the market faster

ENERGISELive your values and goalsFreedom liberates, inspires teamsPeople crave responsibility. It makes them performIntimidation is not leadershipShow appreciation. A handwritten thank you note is always cherishedReal productivity comes fromchallenged, excited, rewarded teams

CHANGE IS GOODFace reality. Change is constant. Dont fear itAdapt yourself, help others do the sameDeal with change proactivelyDont be a slave to traditionReinvent yourself constantlyWillingness to change is a strength, even if it means plunging the firm into confusion for a while

VALUES FIRSTPlay up the values and culture. Focus less on numbersLive your valuesLet go those who dontNumbers arent the vision.Numbers are the product

HELP OTHERS GROWA leadership pipeline is vital and building it is a leaders strategic dutyLook for team players and coachesLet them work across functionsMeasure their performanceIn potential leaders, look for the four Es:Energy, Energise, Edge, Execution

LEARNINGYou dont have all the answersMake learning a priorityCreate an operating system that drives knowledge and learning throughout the companyMake important information easily availableCulture should help ideas to be translated into resultsCreate a learning organisation to spark communication and exchange of ideas

QUALITYTake pride in your workMake quality a way of lifeQuality is your job; make it everyonesInvolve customersExchange best practicesMake quality so valuable to customersthat you become the only real choice

INNOVATIONInvest in continuous trainingShun the incremental, go for the leapInvest in IT and information managementSpend an hour every week learning whatcompetitors are doingProduce more for less through intellectual capital

THE NEED FOR SPEEDEliminate layers, roadblocksMake quick decisionsCreate an open organisationCommunicate fasterSpeed is the most indispensablepart of competitiveness

THINK LIKE A SMALL FIRMSmall firms have huge competitive advantages uncluttered, simple, informalThey thrive on passion, ridicule bureaucracyThey grow on good ideas regardless of their sourceGet lean and agileInfuse a small company soul into your organisationStay close to your customersSmall companies dream big, set the bar high

IN THE END, IT BOILS DOWN TOTRUST

HERES WHAT COLIN POWELL HAS TO SAY

If you inspire others to dream more, learn more, do more and become more, you are a leader.

John Quincy Adams,former US President

Thank you