a cautionary case study.
by martin bissett
passport to partnership
the passport to partnership study collated a number of responses in a conversational style. the main example that really stood out as the major indicator of a need for each future leader to be able to convert new business is showcased below and was repeated many times in various different ways.
if this person wants to be considered for partnership in the future, we look at how are they promoting the firm to potential clients now.
meaning: if you’re trusted enough to represent the firm publicly, what perception are clients and potential clients getting about the firm based on their interactions with you?
more: seven things that good advisors skip | nine biz-dev metrics for making partner | communication isn’t about you | how to measure partner potential | checklist: partner-ready metrics | checklist: 10 keys to landing your next client
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a case study
michael had done well. his profile was rising as he became one of the firm’s leading rainmakers due to his natural ability to engage and gain the confidence of business owners and influencers alike.
however, when a particularly high-profile prospect came into michael’s pipeline, he was very excited. he thought about how when he won this piece of work (which was surely a formality), everyone was going to sit up and take notice, from the partners of his firm all the way through to the partners of every competing firm in town. this was the big one.
he had scheduled a call with the president of the company he was trying to win and when michael called, the president’s assistant picked up. michael introduced himself with dignity and asked for the president. he should have been put on hold but instead, the assistant put the phone to his chest while he whispered, “it’s mike griffiths from ptp on the line for you.” michael heard the president whisper in reply, “oh geez, err, yeah he said he would call. tell him i’m not in the office and you don’t know exactly when i’ll be back but you’ll take a message.”
michael was incensed! absolutely incensed. the effort, chargeable time, building of case studies, research for the proposal and everything that had gone into trying to win this engagement and the president wouldn’t even take a prescheduled call?
when the assistant passed on what michael already knew, he couldn’t take it and shouted back, “you’re not sure when he’ll be back? that’s strange since he’s standing right next to you. i just heard him!”
what followed was awkward but suffice to say the call ended without any further commitment being scheduled. michael felt low and lied to, but worse was to come.
the assistant had reported what michael had said to the president. the president reacted to this lack of respect by quickly composing a strongly worded email to michael’s managing partner. within 60 minutes of the call ending, michael was summoned.
the managing partner called michael into his office. he advised him:
“what is wrong with you? this is completely unacceptable for someone who is representing our firm in an ambassadorial or rainmaking role. what on earth were you thinking?
“you don’t need me to tell you how much damage this could do to our reputation. you’ve managed to annoy the most influential businessman in town. how dare you!
“i’m going to put this down to inexperience and call it a blip. you’ve given me a lot of damage limitation work to do but it’s so completely out of character that i’m going to let it go this time.
“before i do though, understand that you have no god-given right to win new work and it takes a long time to do it well, but it’s not difficult to lose business and you seem to be hell-bent on achieving just that.
“get out of my office, think about what you did and get your head back in the game!
“you’ve come a long way michael, but your learning curve is just beginning, not ending.”