{"id":77940,"date":"2020-08-04t12:00:30","date_gmt":"2020-08-04t16:00:30","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=77940"},"modified":"2020-08-04t22:26:22","modified_gmt":"2020-08-05t02:26:22","slug":"the-antithesis-of-the-managing-partner-management-by-committee","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/08\/04\/the-antithesis-of-the-managing-partner-management-by-committee\/","title":{"rendered":"when managing partners can’t"},"content":{"rendered":"

\"word<\/a>four ways to make sure managing partners will fail.<\/strong><\/p>\n

by marc rosenberg<\/i>
\nthe rosenberg practice management library<\/i><\/a><\/p>\n

there is an intuitive notion that comes to partners that goes something like this: \u201clet\u2019s all get together and form a firm that will make us all<\/strong> more successful than any of us could be individually. we\u2019ll follow the principles of democracy by dividing up the management duties so that no one is overburdened. the partners will make decisions as a group, thereby avoiding vesting too much power in one person.\u201d<\/p>\n

more: <\/b>don\u2019t let exiting partners double dip<\/a> | the 13 signs you have a partner problem<\/a> | covid-19, adversity and innovation<\/a> | how covid impacts partner retirements<\/a> | \u00a0three tough questions in partner buyouts<\/a> | is mandatory retirement a best practice?<\/a> | covid-19: how your firm can respond<\/a>
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management by committee is doomed to fail. this list refutes the excuses partners often give for favoring management by committee.<\/p>\n


\n4 reasons for management by committee <\/b>and <\/b>why they don\u2019t work<\/b><\/p>\n

1.<\/strong> we don\u2019t want one person with too much power. as a democracy, we all want a vote.<\/p>\n

\u2013 this doesn\u2019t work because a business cannot be run effectively as a democracy. someone needs to be in charge. management by committee waters down decisions and lends itself to endless procrastination.<\/em><\/p>\n

2.<\/strong> none of us has the charisma to be the managing partner.<\/p>\n

\u2013 charisma isn\u2019t required. as jim collins said in his book \u201cgood to great,\u201d \u201cgreat leaders act with quiet calm and determination, relying on inspired standards, not charisma, to motivate.\u201d<\/em><\/p>\n

3.<\/strong> no one has time to be managing partner. splitting up the admin time spreads the burden to all of us.<\/p>\n

\u2013 not true, because when partners do admin work, they lose <\/strong>money for the firm. instead of partners doing partner-level work, they spend large chunks of time doing the work of a coo or firm administrator, who earns far less than a partner.<\/em><\/p>\n

4.<\/strong> our rainmaker would be our best managing partner, but we\u2019ll lose money if we take him or her away from selling.<\/p>\n

\u2013 on the contrary, a rainmaker who has the skills to manage the firm will make everyone else more effective at business development. besides, managing partners should continue wearing their rainmaker hats while they manage the firm.<\/em><\/p>\n

line partners should welcome the presence of a managing partner because it<\/p>\n