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  • Atricle Dump - Why Leadership Matters in Professional Practices

    Some Things I've Learned Since Losing My Job
    One day in late February my cell phone rang, and it was my boss's boss. He and I never really, you know, saw eye to eye. In fact, when he became my boss's boss, I felt a twinge of panic. "He's gonna find a reason to get rid of me," I told the paranoid and fleshy reflection in the mirror.But I'd been with the company for seventeen years, much longer than he'd been around, and had weathered many a storm. It didn’t take much effort to convince myself everything would be fine.He asked if I could meet him for breakfast the next morning. There was something he needed to talk to me about, and couldn't go into it over the phone. I sensed just the tiniest bit of anxiety in his voice, and it sounded like he might've been calling from an airport.Gulp.It's worth noting, I think, that this guy is based in Southern California, and I'm in Scranton. So it wasn't exactly common for him to drop in like this. Something was up, I knew, something I pr
    uld you assess yourself, or other leaders in your firm? If there was to be a 360° assessment, what would the others say? Reading the list the qualities do not seem to be highly complex when expressed like this. To demonstrate them requires the underpinning skills and knowledge which will give the confidence to use them.

    Most professional firms, regardless of your discipline, have a huge amount of technical expertise and experience and many of you will have some form of CPD (Continuous Professional Development). All of this is acquired over time and through training in the technical aspects of the role. However, when it comes to running and leading the firm, or a key part of it, how much is invested in developing the skills and expertise in that area? Experience suggests that for many of you, it is very little. How do you develop leadership, and management, skills? Well, some can come from experience, but that is both time consuming and can be expensive if it means learning from mistakes!

    If you want your firm to survive, thrive and grow,

    Buy A Business Without Paying For An Attorney, CPA, Airline Ticket Or Even A Taxi Cab Ride
    After half a century of buying businesses, people still ask me why I spend so much of my time investing in buying businesses instead of real estate, the stock market and other things like that. And I always tell them -- and this is absolutely true -- the reason I don't do anything but buy businesses is because, in 50 years of doing so, I still have yet to come across a better investment than buying a business. In fact, nothing else even comes close in terms of both return on investment and risk. Let’s put it this way. If you get any financing at all, the cap rate on the average business with some financing is about 60 percent. What I mean by "cap rate" is you’re getting 60 percent of your money back every year. So, if you invest $100,000, you’re going to get $60,000 back a year. I mean, on real estate you invest a $100,000 and you’re going to get 10,000 back -- if that. So, buying a business gets you six times wha
    “A leader has two important characteristics; first he is going somewhere; second he is able to persuade others to go with him.”
    Robespierre

    How many of the people who run professional firms have achieved their positions as a result of planned career development? Or through assessment centres, or their ability as leaders and managers? I wonder whether a large number are still there because of some family connection, who they know and bring to the firm as clients, length of service or revenues generated? This does not mean that there has to be a problem with those at the top as some will be capable and some will be natural leaders. However, how many could be better? When I have worked with groups in professional firms, the senior people have generally admitted to having no real training in leadership and often admit to lacking the skills. Those at lower levels commented about a lack of leadership, direction or support.

    Why does it matter? Fundamentally, all businesses need clear leadership from the top. There needs to be clear strategy and direction. The top leaders will set the culture of the organisation too. Too many organisations are “over-managed and under-led” to quote Warren Bennis. There is a difference between leadership and management. Managers get things done, operating within the culture and the rules. Leaders create the direction, developing the culture and rules and taking the people with them. This article will raise some questions about what happens if you do not address the leadership challenge for your firm and shares some ideas for how prevent them. As your markets change, the competitive forces become even more threatening a lack of executive and strategic leadership might prove to be terminal!! However, if you start to apply the principles you can create a more robust and resilient business and, if you wish to, achieve even greater things.

    Leadership itself is a word which can trigger a wide-ranging debate if you want to reach a consensus about what it means or what it is. There are hundreds of definitions within the business press alone. To add to the complication, it is generally accepted that there are different levels of leadership, from that required for a team leader or first line supervisor to that of a CEO of a major blue chip! If we think about leadership at the top of an organisation, there are some key elements they need attention:

    • having an eye on the future and the horizon
    • taking a medium and long-range view
    • looking outside and inside the organisation
    • challenging the status quo
    • setting objectives
    • inspiring trust
    • asks questions and listens
    • develops others

    If you had to look at the leadership you, or others, are providing in your firm, how many of these aspects to they demonstrate consistently. My experience is that too many “leaders” in professional firms are too hands-on. This leads to a lack of clear strategy and direction compounded by a lack of thorough market awareness. There is often a reluctance to change and little is done in a proactive way. The senior people may provide sound professional guidance and mentoring, but they rarely focus on developing the staff throughout the firm. The actual people-management skills are not necessarily good either. These problems are not the fault of the individuals, they are effectively sins of omission. There has been little, or no, formal or structured training or development in management or leadership skills – sometimes reinforced by the “I didn’t get where I am with training” mindset!!

    “Reason and judgment are the qualities of a leader.”
    Tacitus

    There are a number of qualities which good leaders can be expected to possess and demonstrate. These would include:

    • ability to articulate the vision for the organisation, department or function
    • problem-solving and making decisions, especially difficult ones!
    • effecting change
    • acting with honesty and integrity
    • leading by example (ie the way they behave and act, not doing the other jobs)
    • self-management
    • communication and influencing skills
    • .

    How would you assess yourself, or other leaders in your firm? If there was to be a 360° assessment, what would the others say? Reading the list the qualities do not seem to be highly complex when expressed like this. To demonstrate them requires the underpinning skills and knowledge which will give the confidence to use them.

    Most professional firms, regardless of your discipline, have a huge amount of technical expertise and experience and many of you will have some form of CPD (Continuous Professional Development). All of this is acquired over time and through training in the technical aspects of the role. However, when it comes to running and leading the firm, or a key part of it, how much is invested in developing the skills and expertise in that area? Experience suggests that for many of you, it is very little. How do you develop leadership, and management, skills? Well, some can come from experience, but that is both time consuming and can be expensive if it means learning from mistakes!

    If you want your firm to survive, thrive and grow,

    The Marriage of BPM and Six Sigma
    Companies are just discovering the benefits of combining BPM and Six Sigma. Ideal for enhancing the long-term performance of business processes, the BPM/Six Sigma union helps companies better characterize, understand, and manage entire value chains. It also helps companies improve control and predictability of corporate business processes and generate sustainable enterprise improvements in performance levels.BPM aligns processes across an enterprise using technologies to provide visibility and management at any point in a business process. BPM and associated technologies help model data flow, people, resources, and systems in an organization. They also help build or modify processes to better align enterprise systems with business objectives and market needs. Unfortunately, BPM lacks the analytical tools to solve difficult and complex process problems.Six Sigma, on the other hand, is a quality improvement and problem solving methodology. It has
    rategy and direction. The top leaders will set the culture of the organisation too. Too many organisations are “over-managed and under-led” to quote Warren Bennis. There is a difference between leadership and management. Managers get things done, operating within the culture and the rules. Leaders create the direction, developing the culture and rules and taking the people with them. This article will raise some questions about what happens if you do not address the leadership challenge for your firm and shares some ideas for how prevent them. As your markets change, the competitive forces become even more threatening a lack of executive and strategic leadership might prove to be terminal!! However, if you start to apply the principles you can create a more robust and resilient business and, if you wish to, achieve even greater things.

    Leadership itself is a word which can trigger a wide-ranging debate if you want to reach a consensus about what it means or what it is. There are hundreds of definitions within the business press alone. To add to the complication, it is generally accepted that there are different levels of leadership, from that required for a team leader or first line supervisor to that of a CEO of a major blue chip! If we think about leadership at the top of an organisation, there are some key elements they need attention:

    • having an eye on the future and the horizon
    • taking a medium and long-range view
    • looking outside and inside the organisation
    • challenging the status quo
    • setting objectives
    • inspiring trust
    • asks questions and listens
    • develops others

    If you had to look at the leadership you, or others, are providing in your firm, how many of these aspects to they demonstrate consistently. My experience is that too many “leaders” in professional firms are too hands-on. This leads to a lack of clear strategy and direction compounded by a lack of thorough market awareness. There is often a reluctance to change and little is done in a proactive way. The senior people may provide sound professional guidance and mentoring, but they rarely focus on developing the staff throughout the firm. The actual people-management skills are not necessarily good either. These problems are not the fault of the individuals, they are effectively sins of omission. There has been little, or no, formal or structured training or development in management or leadership skills – sometimes reinforced by the “I didn’t get where I am with training” mindset!!

    “Reason and judgment are the qualities of a leader.”
    Tacitus

    There are a number of qualities which good leaders can be expected to possess and demonstrate. These would include:

    • ability to articulate the vision for the organisation, department or function
    • problem-solving and making decisions, especially difficult ones!
    • effecting change
    • acting with honesty and integrity
    • leading by example (ie the way they behave and act, not doing the other jobs)
    • self-management
    • communication and influencing skills
    • .

    How would you assess yourself, or other leaders in your firm? If there was to be a 360° assessment, what would the others say? Reading the list the qualities do not seem to be highly complex when expressed like this. To demonstrate them requires the underpinning skills and knowledge which will give the confidence to use them.

    Most professional firms, regardless of your discipline, have a huge amount of technical expertise and experience and many of you will have some form of CPD (Continuous Professional Development). All of this is acquired over time and through training in the technical aspects of the role. However, when it comes to running and leading the firm, or a key part of it, how much is invested in developing the skills and expertise in that area? Experience suggests that for many of you, it is very little. How do you develop leadership, and management, skills? Well, some can come from experience, but that is both time consuming and can be expensive if it means learning from mistakes!

    If you want your firm to survive, thrive and grow,

    Water Heaters
    The way water heaters work is by heating the water from the bottom of the tank, where the heating elements are positioned. Due to cold water being denser, the hot water then rises to the top of the tank where it is then carried off to its destination. It is advised not to use all of the hot water too quickly, because if you are using more than the heating elements can keep up with you will run out in the middle of whatever you are using the water for, for instance a shower. Water heaters are fitted with an instrument known as a Thermostat, which acts to ensure the heat of the water in the tank never drops below a certain level (whatever it is set to). If it does, then the thermostat kicks in and powers the heating elements which then warm the water. The thermostat should be set to come on at specific times, when you are most likely to need hot water. By doing this, it lessens the chance that you will run out of hot water when you least want to.All ele
    to the complication, it is generally accepted that there are different levels of leadership, from that required for a team leader or first line supervisor to that of a CEO of a major blue chip! If we think about leadership at the top of an organisation, there are some key elements they need attention:
    • having an eye on the future and the horizon
    • taking a medium and long-range view
    • looking outside and inside the organisation
    • challenging the status quo
    • setting objectives
    • inspiring trust
    • asks questions and listens
    • develops others

    If you had to look at the leadership you, or others, are providing in your firm, how many of these aspects to they demonstrate consistently. My experience is that too many “leaders” in professional firms are too hands-on. This leads to a lack of clear strategy and direction compounded by a lack of thorough market awareness. There is often a reluctance to change and little is done in a proactive way. The senior people may provide sound professional guidance and mentoring, but they rarely focus on developing the staff throughout the firm. The actual people-management skills are not necessarily good either. These problems are not the fault of the individuals, they are effectively sins of omission. There has been little, or no, formal or structured training or development in management or leadership skills – sometimes reinforced by the “I didn’t get where I am with training” mindset!!

    “Reason and judgment are the qualities of a leader.”
    Tacitus

    There are a number of qualities which good leaders can be expected to possess and demonstrate. These would include:

    • ability to articulate the vision for the organisation, department or function
    • problem-solving and making decisions, especially difficult ones!
    • effecting change
    • acting with honesty and integrity
    • leading by example (ie the way they behave and act, not doing the other jobs)
    • self-management
    • communication and influencing skills
    • .

    How would you assess yourself, or other leaders in your firm? If there was to be a 360° assessment, what would the others say? Reading the list the qualities do not seem to be highly complex when expressed like this. To demonstrate them requires the underpinning skills and knowledge which will give the confidence to use them.

    Most professional firms, regardless of your discipline, have a huge amount of technical expertise and experience and many of you will have some form of CPD (Continuous Professional Development). All of this is acquired over time and through training in the technical aspects of the role. However, when it comes to running and leading the firm, or a key part of it, how much is invested in developing the skills and expertise in that area? Experience suggests that for many of you, it is very little. How do you develop leadership, and management, skills? Well, some can come from experience, but that is both time consuming and can be expensive if it means learning from mistakes!

    If you want your firm to survive, thrive and grow,

    Provide a Local Support Office for Your Remote Employees
    Expanding your company to a new city is a giant step. There are many important decisions to make about your location, employees, financial needs and how you will best benefit your clients. If your remote employees will be working from home or their cars for the most part, you can provide them with access to a local branch of your company without paying high rent or buying expensive office equipment. Here are two options:Renting a Virtual Office for Your EmployeesProviding a local virtual office for your remote employees is one way to help their daily tasks go more smoothly. A virtual office is designed to help employees who work either from home or operate out of their vehicle most of the day by providing a local business presence and convenient location for part-time office tasks. Rather than using their home mailing address and phone number, your employees are able to use a local business address and phone number provided by the virtual
    fessional guidance and mentoring, but they rarely focus on developing the staff throughout the firm. The actual people-management skills are not necessarily good either. These problems are not the fault of the individuals, they are effectively sins of omission. There has been little, or no, formal or structured training or development in management or leadership skills – sometimes reinforced by the “I didn’t get where I am with training” mindset!!

    “Reason and judgment are the qualities of a leader.”
    Tacitus

    There are a number of qualities which good leaders can be expected to possess and demonstrate. These would include:

    • ability to articulate the vision for the organisation, department or function
    • problem-solving and making decisions, especially difficult ones!
    • effecting change
    • acting with honesty and integrity
    • leading by example (ie the way they behave and act, not doing the other jobs)
    • self-management
    • communication and influencing skills
    • .

    How would you assess yourself, or other leaders in your firm? If there was to be a 360° assessment, what would the others say? Reading the list the qualities do not seem to be highly complex when expressed like this. To demonstrate them requires the underpinning skills and knowledge which will give the confidence to use them.

    Most professional firms, regardless of your discipline, have a huge amount of technical expertise and experience and many of you will have some form of CPD (Continuous Professional Development). All of this is acquired over time and through training in the technical aspects of the role. However, when it comes to running and leading the firm, or a key part of it, how much is invested in developing the skills and expertise in that area? Experience suggests that for many of you, it is very little. How do you develop leadership, and management, skills? Well, some can come from experience, but that is both time consuming and can be expensive if it means learning from mistakes!

    If you want your firm to survive, thrive and grow,

    Courage to Walk the Razor's Edge
    “To dare is to lose one's footing temporarily. To not dare is to lose oneself.” - Soren KierkegaardThe chorus of Jana Stanfield’s and Jimmy Scott’s song, "If I Were Brave", describes the razor’s edge as the place “fools and dreamers dare to tread.” Those who always keep their feet planted safely upon the ground would probably agree.I would submit that it is more foolish to avoid the razor’s edge because of a fear of failing. You cannot avoid failure without avoiding success. Virtually all of the great achievements in human history are the result of walking the razor’s edge. Every technological or social advance was achieved because someone took a personal or professional risk.“The skeptic sees risky endeavors as resulting in either success or failure, as if the two were polar opposites. The intelligent person knows that failure is part of the process of success, and that both lie in the same direction, opposite cowardice.” - Steve Pavlin
    uld you assess yourself, or other leaders in your firm? If there was to be a 360° assessment, what would the others say? Reading the list the qualities do not seem to be highly complex when expressed like this. To demonstrate them requires the underpinning skills and knowledge which will give the confidence to use them.

    Most professional firms, regardless of your discipline, have a huge amount of technical expertise and experience and many of you will have some form of CPD (Continuous Professional Development). All of this is acquired over time and through training in the technical aspects of the role. However, when it comes to running and leading the firm, or a key part of it, how much is invested in developing the skills and expertise in that area? Experience suggests that for many of you, it is very little. How do you develop leadership, and management, skills? Well, some can come from experience, but that is both time consuming and can be expensive if it means learning from mistakes!

    If you want your firm to survive, thrive and grow, it will almost certainly pay to think about improving leadership and management skills – and to think of it as an investment. There is evidence that more successful organisations are those which are well led and well managed. The bigger firms will have some form of management or leadership development programme in place in order to improve these skills and to ready people for future responsibility. Where existing teams need to improve, training programmes can be designed to address their specific issues, building their skills and competencies and improving overall performance. I know that even where we have just done simple interventions on some basics around time management, delegation and goal setting it has helped clients see an improvement in productivity and reduced the amount of work being done in evenings or at weekends. This has enabled senior people to spend more time doing what they should be doing – leading and directing the business. For some firms, the preferred option, especially for senior people, is to tackle these areas on a more individual basis and use executive coaching as the way forward. This can give significant returns in performance and also areas such as staff retention and productivity. These options are not mutually exclusive either, you may consider combining individual support and development with some team training. I have found that this can be particularly effective, especially when some of the people involved have a high degree of technical expertise and need to work on their “soft” skills and strategic thinking too.

    Leadership is something which is needed in all businesses and by most groups. As the quotation said at the beginning, the leader has to provide the direction for the organisation or group. They need to believe in this for themselves and now how they can get there. The second stage is to persuade others to go along. This needs a combination of skills and the right attitudes. These are not necessarily innate qualities which everyone possesses. They can be learned along with the underpinning skills. Without good leadership the firm is likely to have a lack of direction, which might mean that the people down the line are not fully engaged or motivated. In this competitive age, can you afford not to be investing in improving your leadership capability?

    Remember - Manage the business – lead your people!

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