By Fiona Westwood
Fiona Westwood offers useful instruments and strategies geared toward harnessing the mind and effort of execs to accomplish buy-in and dedication to alter of their businesses.
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Extra resources for Accelerated Best Practice: Implementing Success in Professional Firms
Database. We will look more closely at ‘knowledge management’ in later Chapters. Conclusions The Model for Success offers a structure to support the success of our ﬁrms. It is based on extensive and applied research into professional ﬁrms in the context of their values, professionalism and business success. Putting in place each Segment allows us to develop effective management and leadership, maximise our use of resources, build relations of value with our clients, make the correct strategic choice and adapt and expand our structure and skill base.
We cannot assume that we know what clients want from us. We need to ask them what services they want and how they want them to be delivered. This may require us to restructure our ﬁrms to match. For example, whilst a department structure might suit our areas of expertise and feeing policies, clients may not like dealing with a number of people within the ﬁrm and receiving fee notes charged on a different basis. Clients may prefer one point of contact and one rate of charge. As a result, we have to start by asking our clients what they value.
That may require some readjustment of the clients’ expectations as well as a discussion about costs. As will be developed in more detail in Chapter 6, both of these should be tackled as early in the relationship as possible. Step 1 Establish and agree clients’ expectations Some professionals shy away at the outset of a consultation to explain the pros and cons of the particular client situation, preferring to make vague assurances about likely outcomes. However, if we are to develop and maintain a long-term client relationship, we must establish from the outset what we can and cannot achieve for them, how long it may take and how much it is likely to cost.