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Management of a professional services firm pdf. "Managing the Professional Services Firm" by David Meister

This is a very specific book on a narrow topic - the work of firms that provide consulting to other firms. Such firms exist, and it's not just E&Y, McKinsey, and the like.

I think anyone considering starting a consulting firm should read Meister. The rest can be found in separate chapters - to understand what quality consulting is and advise your consultants)

What's under the hood:

Internal organization of a consulting firm, concepts partner, manager And junior officer
Project structure − brain(super projects), gray hair(requires a small participation of partners), procedures(standard projects, carried out by junior employees according to the procedure)
Working with a client, with our own staff, evaluation and payment for the work of partners, and many many nuances of work

In general, the structure of the book is somewhat torn, probably p.ch. compiled from separate articles written by the author earlier. But we have nothing to lose from this. You can simply use it as a reference book - you open it where you need it and go ahead.

Some thoughts from the book:

Profitability is more important to a consulting firm than profitability(i.e. the point is not in sales volumes, high rates, etc.) It is necessary to motivate partners stupidly for profit, and not for rates, paid hours, etc. Maybe there is a cap, but they build a business this way a little.
The art of lining up partner work structures- delegate what needs to be delegated, focus on profitability, the importance of doing marketing. Many nuances - re-read as you come across.
Need to serve not only the problem of the client, but also the client himself. This mlyn is important, p.ch. we are pros solving problems, and for some reason the client feels like a ****. Give to your clients attention. Set up feedback, really find out what customers think.
This topic touches me a lot, p.ch. I see this as a systemic problem of the entire post-Soviet space :-/
Seminars- no more than 25 people, for each. 5 people should be allocated a partner, work out each visitor in advance. A fairy tale, but why not put a guideline?
One of the biggest mistakes insufficient investment of time and attention in existing clients .
Each partner must have a personal career plan. In general, it is surprising how partners (in fact, co-owners of the company) can get along together, if they have their own own plans. Probably, a leader is needed who can resolve numerous problems (Meister also writes a lot about this). A leader who can create an atmosphere of dynamism and support for ambitions.
A real pro is a neurotic who constantly doubts his abilities. Therefore, driven by achievement)
The head of the company, sitting alone in his office, does not manage anything) The point is that you need to work "in the fields."
The best leader is not the best pro. But the one who able to always find and create the best in people.
The best leader easily salutes victory to others. I think it transposes to any area. Professionalism will always be noticed, it does not need much protection.
Firm strategy- should be developed down up, up to inclusion in the personal plans of partners. The only significant part in these strategies is specific action plan.
Make a quick strategy - not for 5 years, but for 3 months. And constant review. By the way, she wrote well about this.
So What is the partner responsible for?? Everything is simple and logical:
- to the client - within the framework of the project
- before the firm - profit
- in front of other employees - training students
Respectively, partner success criteria: profitability, customer satisfaction, development of skills (own and students)
Partner Compensation? It's crazy, everyone does it differently. But ideally, it should be based on assessment, and not on measurements (that is, not stupid metrics, but quantitative and qualitative analysis).
One top manager said - evaluation of the work of partners in consulting firms Either it doesn't work well or it doesn't.

Let's summarize.
The book is very worthy, a must-read for consultants. Despite the fact that the experience described by the author is the experience of the USA already in the 90s, it looks fresh for us. elusive.

After nearly 30 years of advising and writing about professional services, I have decided to retire. I no longer plan to consult, speak or write.

He writes further that he achieved a lot, helped many. Just like app. Paul:)
“2 Tim 4:7 I have fought a good fight, I have finished my course, I have kept the faith.”.
And then I realized how cool it is to spend time with my wife, travel, participate in all sorts of “circles”, and be a student and not a teacher.
And since then (for more than 6 years) - not a line in the profession.

A very interesting person, and it seems to me - worthy of imitation.

Grade:
Reading Difficulty: medium (sometimes difficult)
Utility: high
Grade: 9/10 (not 10, p.h. sometimes “not about us”, and repeats in places)

Abstract

A book by David Meister, the world's leading consultant and researcher on the management of organizations providing professional services, is desktop for everyone successful leaders audit, legal, consulting, real estate companies. Its main value is that the author not only gives a systematic presentation of all aspects of the management of such organizations, but also, along with general principles offers a description of best management practices and clear methodologies for implementing these practices. The book will be of interest to owners, managers and employees of firms providing professional services, students of management and marketing departments.

David Meister

Sources

Thanks

Introduction

Part one

Lever and customer market

Lever and Market human resources

Leverage and profitability

Guru Associates: Numerical Example

Growth and profitability

Summary: The key role of leverage

Work requiring high competence

Work that requires solution experience typical tasks

Projects requiring high efficiency

Other differences

Application

Health and hygiene

Profit Management

performance management

Lever control

Profitability and growth

Why is this becoming a problem?

Causes of the problem

Solution of a problem

Additional tactics for solving this problem

Conclusion

Part two

Why listen to customers?

Several ways to consider the interests of clients

Group of users

Reverse Seminars

Attending industry customer meetings

Marketing research

Visit of leaders to important clients

Discussion of the completed project with the project team

Regular customer feedback

Conclusion

Satisfaction equals perception minus expectations

How to do it?

Measurement

The Role of Leaders

Questionnaire administration

Questionnaire development

Some caveats

Ways and tools

Reward

How to start the program feedback?

Other answers: who gets how much?

In the absence of consent

What distinguishes professions?

Strategy and management

Required Rules control system operation

Managing partner

Management team

Business manager

Compensation committee

Evaluation of the governance structure

Part six

What does a "well-managed organization" mean?

System " single organization»

Maintaining a unified organizational culture

recruiting

Education

Growing your own professionals

Merger rejection

Controlled Growth

Choice of clients

Employment of the dismissed

Compensation

Investment in research

Communications

Lack of status symbols

Governance: A Style That Forms Consent

Conclusion: Potential Weaknesses

Strengthening local firms

International customer service

Some ideas for cooperation

Direct Contact Creates Morality

Five Ways to Share Knowledge

Where actions should be coordinated

Industry team leaders must have key skills

Maintaining an acceptable balance

Part seven

Approach 1: Evaluate the combination of projects with a look back

Approach 2: Clear evaluation and reward of transfer of skills

Approach 3. Levels of measurement and rewards for fulfilling obligations to customers

Approach 4. Accounting for balance sheet issues in setting partnership goals, evaluation and rewards

Approach 5: Prioritize Marketing to Existing Customers

Approach 6. Systematic review of completed projects

Approach 7. Industrial engineering study of project management methodologies

Conclusion

Sources

David Meister

Sources

Chapter 1."A Question of Balance". An early version of this article was published under the title "Balancing the Professional Service Firm" in the fall of 1982 in the Sloan Management Review (Volume 24, Number 1). Reprinted with permission of the publisher. Copyright 1982 Sloan Management Review.

Chapter 2 « Life cycle professional organization". An early version of this article was published as "The Three E's of Professional Life" in the Journal of Management Consulting Volume 3, Number 2, Pages 39-44 (1986). Copyright 1982 Journal of Management Consulting

Chapter 6"Listening to clients". Reprinted with permission from Business Quarterly - Western Editions business school University of Western Ontario, London, Ontario, Canada. Issue - spring 1989

Chapter 7"Quality work does not mean quality service." David Meister is a regular contributor to The American Lawyer. This article is reprinted from the April issue of the magazine. 1984 Copyright 1984 The American Lawyer

Chapter 11"Attraction of new clients". First published November and December 1992 in The American Lawyer...

David Meister

Managing a professional services firm

Sources

Chapter 2"The life cycle of a professional organization". An early version of this article was published as "The Three E's of Professional Life" in the Journal of Management Consulting Volume 3, Number 2, Pages 39-44 (1986). Copyright 1982 Journal of Management Consulting

Chapter 6"Listening to clients". Reprinted with permission from Business Quarterly, a publication of the Western Business School of the University of Western Ontario, London, Ontario, Canada. Issue - spring 1989

Chapter 14"How to build human capital". David Meister is a regular contributor to The American Lawyer. This article is reprinted with permission from the July issue of the magazine. 1984. Copyright 1984 The American Lawyer

Chapter 15 Crisis of Motivation. David Meister is a regular contributor to The American Lawyer. This article is reprinted with the permission of the journal. July 1984 Copyright 1984 The American Lawyer

Chapter 16"The Importance of Planning". An early version of this chapter was published under the title "Work Planning Drives Firm Development" in the Journal of Management Consulting vol. 1, number 1 (1982). Copyright 1982 Journal of Management Consulting

Chapter 17"On the meaning of partnership". David Meister is a regular contributor to The American Lawyer. This article is reprinted with the permission of the journal. October 1983 Copyright 1983 The American Lawyer

Chapter 19"How Leaders Add Value". This chapter is a heavily revised version of two articles: "The Strength of the Firm Leader", published in March 1993 in The American Lawyer and "Management Strain", published in The Counselor, Volume 26, Number 2 (1986). Copyright 1993 David Meister

Chapter 23"The Art of Partner Compensation". David Meister is a regular contributor to The American Lawyer. This article is reprinted with the permission of the journal. November 1984 Copyright 1994 The American Lawyer

Chapter 25"Sharing the Pie". David Meister is a regular contributor to The American Lawyer. This article is reprinted with the permission of the journal. March 1984 Copyright 1984 The American Lawyer

Chapter 26"Partnership Management". Part of this chapter was first published in April 1984 in The American Lawyer under the title "Partnership Policies"

Chapter 31"Coordination of Industry Specialized Groups". First published in the Journal of Management Consulting as "Industry Specialization: Necessary but Difficult to Manage". Volume 2, Number 1 (Winter 1984/1985), pp. 50–55. Copyright 1984 Journal of Management Consulting

Thanks

The book you are holding in your hands is an attempt to help the leaders of professional services firms by introducing both new perspectives on different problems faced by such firms and the supply practical advice to resolve such problems. The chapters in this book are mostly re-edited from articles published individually over the past ten years. I have to thank the many magazines that have helped my work see the light of day. However, special mention should be made of Steve Brill and The American Lawyer, for which I am a regular contributor. In addition to publishing many of my early (and new) work in this magazine, Steve has always acted as both a source of encouragement for my work and a sworn enemy of bad thinking. I am grateful to everyone at The American Lawyer for their support.

Two people have played a significant role, not only in this work, but in all the research and consulting projects that underlie it. This is Katie Meister, my wife, and Julia MacDonald O'Leary, my business manager. To both I offer my gratitude and infinite devotion. A wise philosopher once said: "All theory is an autobiography," and many of my views were formed from my own experience control small professional company. Kati, in addition to being an outstanding coach, taught me a lot about relationships and partnerships. She has always been an invaluable resonator. Julia is a true professional - talented, dedicated, always ready to take on as much responsibility as possible. I wince when the thought of what I would do without her comes to my mind.

In 1991-1992, our team was strengthened by Cliff Farrach, who helped us all become more efficient in our business. We follow his career with interest and high expectations.

Of course, none of this book would have been possible without the support of many clients who have enabled me to develop, implement, and refine new approaches to managing professional services firms. I am grateful to those of my clients who had the courage to experiment with provocative and challenging ideas.

Introduction

Two aspects professional work constitute a particular problem in the management of professional services firms. First, professional services involve a high degree of individualization of the work performed. Professional firms must manage individualized projects in an environment where little in matters of management can be reliably put on the rails of routine procedures. The principles and approaches of management applicable in industry or consumer industries, based on standardization, supervision, and marketing of repetitive tasks, are not only not applicable to the professional services industry, but can also be dangerous.

Second, most professional services have a strong face-to-face component with the client. This suggests that the definitions of quality and service take on special meaning and must be managed in a special way, and that special skills are required from senior staff.

Both of these characteristics (individualization and customer contact) require the firm to attract (and retain) highly qualified personnel. For this reason, a professional services firm is an extreme example of the well-known phrase “our assets are our people.” What a firm sells to its customers is often not the firm's services per se, but rather the services of individuals (or teams of such individuals).

The primary implication of this is that a professional services firm must actively compete in two markets at the same time: an "output" market for its services, and an "input" market for its inputs, i.e., its professional workforce. Often a balancing act is required between the conflicting demands of these two markets, which creates a particular challenge for the management of the firm.

Feb 16, 2017

Managing a professional services firm David Meister

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Title: Management of a professional services firm
Author: David Meister
Year: 2003
Genre: Foreign business literature, Marketing, PR, advertising, Management, recruitment

About Managing the Professional Services Firm by David Meister

David Meister is an academic economist who has focused on a very narrow, at first glance, topic - the management of professional services firms, that is, those operating in the b2b segment, as we say today.

In fact, this is reflected in the title of his first book on the subject, Managing the Professional Services Firm. It's about about audit, consulting, recruiting, legal, accounting firms, PR agencies, etc. In general, about those who provide services on an outsourcing basis and build partnerships with clients.

Actually, David Meister himself also addresses the heads of such firms from a b2b position. He does not flirt with readers, does not flatter them, does not make vain promises and does not try to charm them. He gives them what they pay for - clear, specific, understandable recommendations, a clear management strategy.

Before turning to consulting, David Meister taught economics at the university. And, apparently, this also left an imprint on his style - he explains everything very clearly and in detail. But Managing a Professional Services Firm is not a textbook.

Reading the book will be of interest not only to the heads of organizations that provide such services, and students of economic universities, but also to everyone who works in the b2b segment on an outsourcing basis. However, many of the recommendations are applicable to the management of any firm. And understanding how outsourcing companies work will not be superfluous for any leader.

The book "Managing a Professional Services Firm" was the result of studying and analyzing the activities of dozens of successful companies in USA. After its release, David Meister, already a recognized consulting guru, had the opportunity to explore even more. IN next years he has written five books on the management of outsourcing firms. And they were all in demand!

But do not think that David Meister is just another popular business coach who promises wealth to everyone. He is really hired by executives large companies for consulting advice. His books are indeed read by senior managers and students of economic universities.

In essence, David Meister is a professional services firm in its own right. And that is why you should definitely read his books.

The book Managing a Professional Services Firm was published in 1993. But to this day it has not become outdated even in the States, what can we say about us - many of Meister's ideas in our country today will look like innovation.

Outsourcing is only gaining momentum in our country, the heads of large companies are just beginning to think that it might be more profitable for them not to maintain their own staff of accountants, lawyers, PR specialists, computer specialists, etc., but to hire a company that will do it professionally. And in an emerging market, the tactics and strategy outlined in Managing the Professional Services Firm are almost invaluable.

On our site about books, you can download the site for free without registration or read online book"Managing a Professional Services Firm" by David Meister in epub, fb2, txt, rtf, pdf formats for iPad, iPhone, Android and Kindle. The book will give you a lot of pleasant moments and a real pleasure to read. Buy full version you can have our partner. Also, here you will find last news from the literary world, learn the biography of your favorite authors. For beginner writers there is a separate section with useful tips and recommendations, interesting articles, thanks to which you yourself can try your hand at writing.

All of these questions are addressed in this audiobook by the world's leading expert.

The book by David Meister, the world's leading consultant and researcher studying the management of professional services organizations, is a desktop book for all successful heads of audit, legal, consulting, real estate companies. Its main value is that the author not only gives a systematic presentation of all aspects of managing such organizations, but also, along with general principles, offers a description of the best management practices and clear methods for implementing this practice.

The book will be of interest to owners, managers and employees of firms providing professional services, students of management and marketing departments.

David Meister was able to "capture" the theoretical and practical concepts that underlie the work of the partnership, which makes his work especially valuable.

Edward A. Kangas

Chairman and Chief Executive, Deloitte Touche Tohmatsu International

Laconic and aphoristic recommendations of David Meister accumulate the so-called Best Practice. Perhaps some of them will be taken as a revelation, others will be questioned. But it is precisely the understanding of the experience gained over more than a century and a half of the development of the professional services industry that many Russian consulting companies coming into maturity.

Alexey Efremov

Director for Practice Development and Project Implementation,

BDO Unicon Consulting

You can skim through this book to begin with, but even so, you will understand that it needs to be read thoughtfully and reread again and again. David Meister knows how to clearly present his vast knowledge to professional services companies. This book should be read not only by managers of firms, but also by all ordinary employees.

J. A. Steenmeijer Worldwide Chairman, KPMG

There are already so many consulting firms in Russia, but practically none good guides on their management and development, so this book is sure to find its reader. It contains many simple recipes put together by a professional. A simple recipes— the most efficient and effective!

Sergey Shapiguzov Managing Partner, FBK

This book is important not only for the managing partner, but also for the beginning consultant. David Meister has been a very thoughtful observer of how professional services firms are managed over the years.

Frederick W Gluck

Managing Director, McKinsey & Company, Inc.

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