Change before you have to
If there’s an underlying theme in this edition of PSF Journal it is that when it comes to running and growing professional services firms, it’s vital to change before you have to.
Grant Butler, Managing Director, Editor Group
It seems counterintuitive to say that the best time to undertake substantial change is when everything is going well, but there is a sound logic to it. Effective change takes time, resources and a positive attitude so it’s easiest to explore new approaches when you have plenty of all three. The hard part is to persuade your firm that change is necessary when there is no obvious threat on the horizon – when there is no ‘burning platform’.
We believe this is a key role marketing and business development professionals can play within firms, alongside partners who hold leadership roles and any strategy figures. You are in a unique position to stand back and see your firm as a business and to understand its strategic strengths and weaknesses. More than any particular professional, you regularly have to articulate where your firm adds value, why it’s different, why it’s better and why it’s a suitable long-term partner for clients.
If you ever find it hard to answer those questions, it might be time for change. In fact, that time may have already passed and your firm might already be in the slow decline that has seen many market leaders gradually eclipsed by newer competitors.
In this issue – our seventh – we explore this idea from a number of strategic and practical angles. Our lead feature focuses on pricing and the rise of a fascinating new figure, the pricing specialist.
In other stories, David Lennane looks at what it takes to build competitive proposals teams, Jason Steinberg argues how important it is to manage your energy in marketing and BD roles, Mary Flanagan explains how professionals can build their networks and Paul Hugh-Jones discusses how to support new client lead partners. We also unlock the secrets of turning your whole team into successful salespeople with a review of the latest book from John Doerr and Mike Schultz.
I hope you find it a stimulating edition and that it captures the challenge of ensuring success in professional services – delivering great work every day while keeping a sharp eye on the future.
