As a partner of your firm, you must continually aim to have the right people in the right roles. And that includes you, and your business partners. This requires planning for the longer term and an ongoing program for training and mentoring team members.
Here are four suggestions which may assist you to keep your team focussed and delivering optimum results…
Play to your strengths
Capitalising on each partners’ strengths for the greater good of the firm may mean that the revenue contributed is unequal. For example: one partner may be a revenue producing powerhouse who will contribute most value if allowed to focus on client work; another may be a rainmaker who has a knack for bringing in clients and lucrative assignments that are best managed and charged out by others in the firm. Similarly, partners who have the responsibility of implementing new services, establishing branch offices or undertaking an acquisition will need their value determined by appropriate alternate measures.
A well-structured organisation chart, which includes management, marketing, sales and client experience, provides clarity regarding roles and responsibilities.
Foster professional development among team members
Leaders are forever training, promoting and otherwise encouraging their employees to succeed. This extends to demonstrating the confidence and trust you have in your senior team members by asking them to present to the rest of the team, those parts of your firm’s business plan that they have worked on.
What impresses me are those leaders who are willing to pay for promising team members to travel to my group coaching meetings. This is where I can clearly see the principals of tomorrow grow not just in knowledge, but in confidence as a result of “hanging out” with their growth orientated business leaders.
Formalise roles and expectations
It takes time to consider and thoroughly document the various roles played in the firm. It’s an even longer process to assign performance measures and then to discuss your expectations one-on-one with team members. Yet, the firms that invest time and management headspace on this activity invariably end up with a switched on and engaged team.
Undertake team building activities
Great teamwork over the long term doesn’t happen by accident. The better performing firms devote time to fostering teamwork. A ready example is the firms that engage me to run a lunchtime session on their ID Profiles during which everyone gains a greater appreciation of how to work together more effectively. Ongoing, firms that embrace a system of team targets, celebrations and rewards invariably unlock extraordinary levels of creativity and commitment.
In 2017 Scott Charlton has issued a challenge to accountants, asking them to step up and “be the complete adviser your clients need you to be.” In order to meet the challenge. Scott urges Accountants to be bold. This involves having critical conversations with their clients and offering services clients may not currently appreciate that they need. He also understands that it requires courage for Accountants to accept that they may not yet have all the skills or the knowledge they need to meet their clients’ needs.
The solution lies in a program aptly named, The Bold Accountant. To find our more contact Slipstream Coaching.