five ways to keep your edge as a leader

specific steps, including three ways to make life easier.

by august j. aquila
what makes a great partnership

have you ever wondered why in good times or in bad it seems that managing partners of professional services firms fail? what happens to them? do they get stuck in a routine? do they fail to see the next issue coming down the road? do they stop thinking about what is critical for success? or, do they spend too much time with clients, with dysfunctional partners or with all the other noisy, but unimportant things that can pull them from their purpose?

more: five reasons that leaders fail | what managing partners must be doing | do your partners pay their own way? | how to create firm accountability | five questions to ask your partners about accountability
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sometimes leaders get overwhelmed. they forget that non-stop action is a lot different from delivering results. in short, they lose the alignment between what’s important to them and what’s important to the firm.

there are certain signs that start to appear when this happens even to the most successful leader.

here is what you need to look for:

• do you feel stressed out?
• do you feel you just aren’t doing the job the way you used to?
• do you think you want to go back to being a line partner?
• is the fun gone?
• are your partners asking if everything is okay?

if you are seeing any of these signs you may need to take a personal retreat and give some serious thought to what you are doing and why you are losing focus. i’ve seen many leaders so fixated on the success of their firm and the financial results that they forget to focus on themselves. there is no doubt that one of the biggest contributors to a firm’s success is the leader’s ability to sustain a high level of effectiveness. if you think you are working harder and harder but not smarter and feeling less and less fulfilled, you may be on the verge of losing your edge. here is what you need to do to recapture it and move forward.

1. re-engage yourself.

when you take your personal retreat, here are some personal questions that you should contemplate. take a blank sheet of paper or your tablet and start answering the following questions:

• what do you want to achieve?
• where are you going and how will you know when you get there?
• what type of leader do you want to be?
• what are your true strengths?
• how can you use these strengths for your own good and that of the firm?

2. don’t lose your focus.

it’s really critical that you identify three to four goals for you and the firm each year. there are many studies that show the more goals we try to achieve, the less we achieve them with any degree of excellence. while there are countless things a firm needs to do, the human mind can only think about a few at a time. if you can’t focus your thoughts and energy you will never regain your edge.

you can ask yourself the following questions when trying to determine what to focus on:

• what will be the economic impact of this effort?
• how will it help the firm achieve its strategic goals?
• how will it give us a competitive advantage?
• can we really achieve it, or are we just dreaming?

3. execute.

execution is the most important thing a leader can do. you know what you want to do (see #1 above) and you have decided where to focus (see #2 above), now it is time to do something. and, not do just anything, but the key items on your list.

here are some ideas and tactics to use:

• enter into your calendar two 30-minute appointments each week to work on your list. never give up this time, even for a client.
• work 30-day time frames. what do you have to do in the next 30 days to move your goals ahead?
• have your administrative assistant screen all visitors who don’t have an appointment.

4. make life easier.

managing firms continues to become more complex and difficult. you need to learn how to work smarter and not harder. when you do this life becomes easier. now, in order to do it, you will need to change the way you are currently doing things. i can’t tell what you need to change, but here are some items that you might want to consider:

• i’ve always done it this way. think of a new and easier way to do it.
• don’t micromanage! as firms get bigger, one person cannot have his or her hands in every decision. surround yourself with a strong team and let them do their jobs.
• leverage your skills and build a team that will help with your weaknesses.

5. stay connected to your work.

each firm is at a different stage of its life cycle. startup firms require you to put most of your energy into surviving. growth-oriented firms may require leaders to keep the firm from imploding. mature firms require a leader who can recreate the firm and firms that are in decline may require a leader to turn them around or perhaps sell them.

while you were successful in the startup stage there is no guarantee that your skills will serve you in the growth, mature or declining stage. if you are connected to your work and are honest with yourself you will be able to read your energy level. a high degree of energy indicates that you are connected. a high degree of stress means you are becoming disconnected from the practice.

if you have any of these feelings, you may be on the disconnection road:

• not engaged
• not satisfied with your work
• not making a difference
• it’s not fun anymore
• bored

stop yourself now before it is too late! take a sabbatical and refresh yourself. if this is not an option, start planning for your successor.

posted on march 31, 2023