Tuesday, September 7th, 2010
THE LEADER’S ROLE
What does your managing partner do? Does he/she lead? Or, does he/she manage, administrate and coordinate?
I have found, via 30 years’ of experience in interacting with hundreds of firms across the country, that the most progressive, successful firms have a strong, future-focused managing partner who absolutely LOVES the firm and has its best interests at heart. They always put “for the good of the whole” before personal interests, before the interests of the partner group, before the interests of the biggest rainmaker or before the squeakiest wheel. It’s a tough job and takes a very strong person.
I am seeing more and more transitions beginning to happen in firm leadership. And, yes, I am beginning to see more and more females taking leadership of their firms. Here’s the gut-wrenching question for these females (and for any NEW managing partner… it applies to males, too.): Have you been selected because you have the strong leadership skills necessary or because some of the partners think you are the easiest candidate to manipulate? I know, this is a tough question and it might offend you, but think about it.
Bryan Shelton, a consultant with The Rainmaker Consulting Group, wrote a newsletter article on this topic titled, “Are you a Managing Partner or Coordinating Partner?” Bryan noes that a managing partner truly leads the firm and pushes it into the future. A coordinating partner is focused on maintaining the status-quo.
My advice to CPAs transitioning into the MP role?
- Outline and officially document your position description.
- Make sure you know what your partners expect of you.
- Define your scope of authority – what do you handle on your own and what FEW things do the entire ownership group need to be involved in.
- Define your communication plan so that ALL owners are “in the know” but not necessarily in the decision process.
- Research and then define your personal development plan. (What conferences should you attend? What should you be reading on a regular basis? Find a coach who will push you to improve and hold you accountable.)
Your mission: Step-up to the role, embrace change, earn respect and trust, put the good of the firm before individuals, implement, be true to yourself and make it enjoyable, rewarding and even fun.
- "The team with the best players wins."
