Leadership in the professional services industry is tough. Law firms, BFSI firms, money management agencies, management consultants, advertising firms, etc, face unique challenges. Not only do they face tremendous client pressure, there is also a serious talent challenge. As a result, leaders are often forced to give up leading for managing. However, never has leadership been more critical for professional services firms. It is vital for such firms' long-term survival. * This is a presentation I put together for our firm's co-founder a couple of months ago.

1. Leadership in
the professional
service industry

2. Why is leadership in the
professional services
industry different?

3. Rare blend
• Such firms face unique challenges
– Tougher to retain talent
– Very demanding clients
– Increasingly competitive environment
– This forces you into managerial roles rather than leadership
Unless company leaders function in a true
leadership capacity, the business may not survive

4. Key functions for leadership
VISION
- Leaders are often ineffective because they focus on day-to-
day demands rather than long-term goals and direction
- This is especially true in firms with high associate turnover
Unless you consistently communicate the
company’s objectives and direction, staff will be
unable to help you achieve your goals

5. Key functions for leadership
BUY-IN
- Leaders solicit support for the vision within
- Although focused on their craft, professionals want their
input to be solicited and incorporated in the firm’s vision
- If that doesn’t happen, they become alienated, cynical,
exit-prone
Be inclusive and your associates will
turn into your valuable partners

6. Key functions for leadership
FOLLOW THROUGH
• Someone has to hold staff accountable for achieving goals
• In professional service firms, that job is the leader’s
• Ensure professionals don’t become so focused on projects
that they miss the larger goals
Balancing accountability with healthy work
relationships is difficult, but necessary

7. Key functions for leadership
ROLE-MODELLING
• Successful leaders are role models
• Lead by example, embody business’ core values
• You need an impeccable record If you expect others to
follow through on their responsibilities
Personal integrity is key.
Associates won’t follow a leader they don’t respect

8. HOW TO DO IT

9. LEAD MORE, MANAGE LESS
• In this knowledge-driven economy, people should be more
empowered
• Close supervision, control, bureaucracy kill the spirit
• Don’t withhold information
• Inspire, empower, get out of the way
You’ll be amazed by how much people will do
when they are not told what to do

10. SIMPLIFY
• Eliminate clutter. It makes for faster, better decision-making
• Don’t make business tougher than it is
• Think simply to create a clear vision
• Make your messages simple
• Simplify communication and meeting
Simple messages travel faster, simpler designs
reach the market faster

11. ENERGISE
• Live your values and goals
• Freedom liberates, inspires teams
• People crave responsibility. It makes them perform
• Intimidation is not leadership
• Show appreciation. A handwritten ‘thank you’ note is always
cherished
Real productivity comes from
challenged, excited, rewarded teams

12. CHANGE IS GOOD
• Face reality. Change is constant. Don’t fear it
• Adapt yourself, help others do the same
• Deal with change proactively
• Don’t be a slave to tradition
• Reinvent yourself constantly
Willingness to change is a strength, even if it
means plunging the firm into confusion for a while

13. VALUES FIRST
• Play up the values and culture. Focus less on numbers
• Live your values
• Let go those who don’t
Numbers aren’t the vision.
Numbers are the product

14. HELP OTHERS GROW
• A leadership pipeline is vital and building it is a leader’s
strategic duty
• Look for team players and coaches
• Let them work across functions
• Measure their performance
In potential leaders, look for the four Es:
Energy, Energise, Edge, Execution

15. LEARNING
• You don’t have all the answers
• Make learning a priority
• Create an operating system that drives knowledge and
learning throughout the company
• Make important information easily available
• Culture should help ideas to be translated into results
Create a learning organisation to spark
communication and exchange of ideas

16. QUALITY
• Take pride in your work
• Make quality a way of life
• Quality is your job; make it everyone’s
• Involve customers
• Exchange best practices
Make quality so valuable to customers
that you become the only real choice

17. INNOVATION
• Invest in continuous training
• Shun the incremental, go for the leap
• Invest in IT and information management
• Spend an hour every week learning what
competitors are doing
Produce more for less through intellectual capital

18. THE NEED FOR SPEED
• Eliminate layers, roadblocks
• Make quick decisions
• Create an open organisation
• Communicate faster
Speed is the most indispensable
part of competitiveness

19. THINK LIKE A SMALL FIRM
• Small firms have huge competitive advantages –
uncluttered, simple, informal
• They thrive on passion, ridicule bureaucracy
• They grow on good ideas – regardless of their source
• Get lean and agile
• Infuse a small company soul into your organisation
• Stay close to your customers
Small companies dream big, set the bar high

20. IN THE END, IT BOILS DOWN TO…
TRUST

21. HERE’S WHAT COLIN POWELL HAS TO SAY

22. If you inspire others to dream more,
learn more, do more and become
more, you are a leader.
John Quincy Adams,
former US President

23. Thank you