About five years ago I developed and began co-facilitating a special one-day workshop for brand new managing partners to help them prepare for taking on the enormous role of becoming their firm’s leader. This came about as a result of being engaged by a long-time client, an AmLaw 100 firm back in 2004, to help the Board select their next full-time managing partner and then to help that individual get comfortable in their new role. What I quickly discovered was that most professionals have a naiveté about what skills and knowledge are really required to manage a professional services firm, they don’t squarely confront the reality of their new position, and they are unfortunate victims of a system that does a poor job of preparing anyone to be the next firm leader.
To make my point, the following list of challenges was compiled through interviews and from the input of over 50 new firm leaders and represents some of the unexpected demands of being a new firm leader that these lawyers hadn’t fully anticipated when first accepting the responsibility. It is hoped that this list will assist any potential new incumbent in properly fine–tuning his or her thinking before taking on the magnitude of the firm leadership job.
-
Believing that having served as a practice group head, office managing partner or on the firm’s executive committee will be adequate preparation for taking on the role of leading the entire firm.
-
Determining how to transition some or all of your client obligations to some other partner in a manner that is comfortable for the clients involved.
-
Attending to the needs of your family as your change in responsibilities demands even more time at the office and likely more time spent traveling, which will affect them whether you wish to acknowledge it now or not.
-
Understanding that you cannot be an advocate (no matter how much your best friends lobby you) for your old practice area, department or office, and that building consensus requires you to balance competing interest, to recognize that you are now working from a larger landscape and always appear to serve the best interests of the entire firm.
-
Suppressing any prior leadership experience in a way that provokes you to be cautious in assuming that any issue you may now face is the same as one you saw in a prior leadership position.
-
Recognizing that you don’t have or know all of the answers when you assume this position and that some of the answers you thought you knew, you soon discover aren’t really that workable in the real world.
-
Being unduly biased by your predecessor’s experience, programs or influence (the repository of the ‘good old days’) and not setting your own path for the firm (based on a thoughtful read of evolving trends and your partners’ aspirations).
-
Being unable to build the new relationships needed with your peers and navigate around the politics of the firm (identifying the power partners with influence within the firm).
-
Feeling confused and uncertain about what is really expected of you (when 91% of new firm leaders report that it takes more than 100 days and 72% claim it takes well over six months to become productive in this new role).
-
Dealing with the sudden isolation of the job.
-
Being adequately self-aware of your personal strengths and shortcomings such that you can take the proper steps to counteract any perceived weaknesses.
-
Having sufficient time to prepare and get up to speed before day one and then being properly orientated to take on the new responsibilities on day one.
-
Understanding that everyone in the firm is scrutinizing your every move and that the impact of your actions (and any missteps) will be magnified.
-
Being immediately overwhelmed by the competing demands (telephone, email and personal requests for meetings) that increase exponentially, for your time and attention.
-
Facing a steep learning curve as you meet with colleagues and confront issues requiring your intensive analysis and thought.
-
Taking on far too much, too quickly, in your initial first months in office.
-
Believing that your appointment represents a mandate for change — and not knowing the skills and techniques for how to effectively obtain your partner’s buy-in to effectively bring about change and overcome resistance.
-
Managing your daily agenda carefully and making sure your initial schedule has ample “walking around” time to communicate directly with each of your partners.
-
Listening attentively to everything you are told while not reading too much into what other say or jumping to conclusions about what someone means and understanding the situation fully before drawing conclusions.
-
Finding the right pace for making changes — as moving too quickly can be as problematic as moving too slowly.
-
Brushing up on your meeting management skills — since whether you like it or not the principal forum from which you will lead is through a series of meetings to do real work.
-
Applying tools and skills to manage and lead groups, teams and offices separated by geography and work cultures.
-
Recognizing that rather than promoting big bold initiatives, you need to achieve some quick, small successes in order to help inspire initial confidence in your leadership.
-
Understanding the role of symbolic actions, behaviors and rituals.
-
Critically assessing each of the administrative professionals that you have inherited to determine if and how they will compliment your goals and aspirations; and develop the systems for how you will manage effectively through your administrative group.
-
Investing sufficient time to make an in–depth assessment as to how the firm is performing against its strategic plan and understand existing mission-critical issues and any emerging ones.
-
Facing higher expectations on the part of the firm’s partnership and executive committee for finding ways to enhance the firm’s growth and profitability in a time of flat or declining demand for services.
-
Believing that your first 100 days represents a period of tolerance and innocence when if fact from day one judgments are being formed, biases hardened and allegiances solidified that will affect your ability to accomplish your goals for the duration of your leadership.
-
Finding ways to get some distance from the job and recharge your energy levels.