Recently I was on a call with the Managing Partner of a firm. He was describing his firm and everything he felt needed to happen to grow the business, develop their people, and create a positive culture for everyone to enjoy. For him, it was a daunting challenge of wanting to accomplish too many things at the same time—all of them necessary, worthy, and potentially impactful.
Also looming in the background were the external pressures created by today’s industry changes, market changes, client demands, and legislative uncertainty. These forces are beyond anyone’s control, but create uncertainty and confusion about what needs to be accomplished and the priority of each action.
When all these needs are combined, it is easy for people to get bogged down in the weeds of the business and struggle to form a clear picture of where they want to be.
Not knowing where to begin can paralyze a firm and prevent anything from happening, as leaders are unable to make a decision and spend countless hours in meetings hoping that eventually the right thing to do will reveal itself.
When you are in a position of not knowing what steps to take to set a clear vision and strategy for the firm or in a practice area, asking, and answering, the following two questions will go a long way toward helping you move forward:
- What is the current reality?
- What do we want as a future reality?
First, uncover your Current Reality so you understand what is happening in the firm or practice area today. Interview partners, staff, referral sources, and clients to take stock of your firm’s current position in terms of staff, services, clients, market position, and even external forces that play a role in the results you will achieve. Too often we make decisions based on anecdotal evidence or personal perspective without ever getting to the truth of what is taking place. This can lead to short-sighted solutions that lack staying power and impact. Talking to all stakeholders of the firm will give you a much clearer picture of what is going on. This is incredibly important; otherwise you risk spending very precious resources without solid justification for why.
The stakeholder feedback step will give you a benchmark to measure against so that you can continually determine your progress toward the vision. It will also provide the necessary information to help you answer the next question—what should the firm’s Future Reality look like?
Your team and other stakeholders in your business will provide context, ideas, information, and warnings that will help you develop a solid vision for the future. The picture will more naturally unfold when a full complement of information and feedback is obtained. These stakeholders, who have a great interest in your success, will also be much more in tune and onboard with a new direction when it fits with what they see happening, inside and outside the firm, and what they believe is possible. Staff will work harder, referral sources will give better leads, and leadership will make better decisions when everyone contributes to developing the vision.
That’s not to say that everyone is always going to immediately buy in to the vision. Obviously, not everyone can get what they want, nor are they always correct in their assessment. However, being involved lets them have input, keeps them informed, and gives you a much better chance that they will support the plans, even if they don’t necessarily agree with everything that is being done. You have created, at least, a picture in their mind of what the vision can be and how they can be connected to it. Those who are not totally onboard from the start can get there as the firm begins to successfully take steps toward a new vision.
Next Steps
If you are trying to determine your Current and Future Reality, The Rainmaker Companies can help with relevant advice and comprehensive resources (to learn more, click the link to learn more about our Growth Capability Assessment). If you would like to discuss your unique situation with one of our experienced consultants, please Contact Us to schedule a complimentary phone consultation.
