Peters Tips #1- Practical Tips on Practice Management

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#1 in a series of brief presentations on various aspects of Practice Management in the professional services arena. Based on my many years in running professional service practices

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Peters Tips #1- Practical Tips on Practice Management

  1. 1. #1 Review practice performance regularly <ul><li>It seems self evident, but review practice performance regularly. I would suggest a monthly review, with perhaps a more detailed review quarterly </li></ul><ul><li>Develop a set of meaningful reports for you and your senior people to review and discuss at each review </li></ul><ul><li>These reports should include not just financials, but information on bids won and lost, time management, project performance summaries, sales and marketing initiatives etc </li></ul><ul><li>I tend to favour exception reporting and the use of graphics. Graphics aid understanding especially for non-accountants </li></ul><ul><li>Consider involving an objective adviser in a quarterly review. He/she can help you step back and view the forest rather than the trees </li></ul><ul><li>Make sure you allow plenty of time for the review and ensure you maintain the discipline month in and month out </li></ul>Peter’s Tips © June 2009 Peter M Salmon & Manning Charles & Associates Ltd Peter’s Tips on Practice Management
  2. 2. Peter Salmon– Principal - Manning Charles & Associates Ltd <ul><li>Peter is a senior executive and consultant with an extensive business management, professional services leadership and delivery background. He combines this with significant organisational change, business assessment, and resource management experience. This is complemented by having worked in a number of countries and a varied range of business sectors. </li></ul><ul><li>Peter's consulting experience includes IT consulting, general consulting, financial investigations and valuations, and litigation support. His other experience includes:- practice development, practice management including service economics and profitability, quality assurance and resource management. </li></ul><ul><li>This knowledge and expertise is combined with a strong record of achievement. For many years Peter has worked with CxO level executives, management and staff to provide business focused outcomes to issues . </li></ul>Peter’s Tips © June 2009 Peter M Salmon & Manning Charles & Associates Ltd Peter’s Tips on Practice Management

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