Managing Your Growing Firm
Mergers and acquisitions have been and will remain popular exit strategies and growth tools for firms of all sizes. From identifying potentials and selecting the best firm, to structuring the deal, identifying talent on both sides to maximize productivity and meshing cultures, a lot of time, energy, and faith goes into the planning phase of combining firms before the ink dries on the contracts. If you’re considering a merger, we can help — we’ve done over ten, in varying sizes, ourselves!
A succession plan must include a partner pipeline. Evaluating the needs of the firm for today and the future can lead to the identification of gaps or redundancies in partner talent. To fill gaps and broaden experiences to reduce redundancies, consider training for existing partners, promoting current talent to partner level, or hiring from the outside. We can help with identifying talent, hiring, onboarding, developing, advancing, and succession.
Often we know from experience and an understanding of the firm’s culture who “gets it” and will likely succeed in attaining the level of partnership within the firm. By developing a core competency model that encompasses both technical and leadership proficiencies and by conducting performance evaluations regularly against the standard model, everyone in the firm will understand what it takes to succeed, and will put forth their energy and focus on the areas most important to the firm. Let us help you identify and communicate your firm’s culture for success.
Retreats, or Summits as we prefer to refer to them, are an important part of the annual planning process for firm leadership. This is a time to reflect on the prior year’s goals, accomplishments, shortcomings, and to come together on a plan for what will come next. Summits can lead to lasting and meaningful change if important issues are on the table and goals are set with measurable and actionable plans as support. We can help review the past year, identify the critical issues, facilitate the discussion, and track future goals.
