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Managing The Professional Service Firm
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International expert and consultant David Maister offers a brilliant and accessible guide to every management issue at play in professional firms.
Professional firms differ from other business enterprises in two distinct ways: first, they provide highly customized services and thus cannot apply many of the management principles developed for product-based industries. Second ...more
Professional firms differ from other business enterprises in two distinct ways: first, they provide highly customized services and thus cannot apply many of the management principles developed for product-based industries. Second ...more
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Paperback, 384 pages
Published
June 9th 1997
by Free Press
(first published 1993)
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This was one of best business management books I have ever read so far. Although based on research articles published mainly back in the 1980s-1990s, it is a priceless collection of well-structured thoughts on how to manage people, clients and organisation of a company providing professional services (such as law practice, accounting, management consulting, custom software development, training etc).
There are so many questions discussed that a manager of a professional service firm (or a busine ...more
There are so many questions discussed that a manager of a professional service firm (or a busine ...more
This book is a business classic. Written in 1993, this book is almost 100% relative to professional services firms today. (With the hilarious exception of the few times he talks about how firms can use *computers*! The future is now!)
Maister walks through almost every part of running a consulting firm, and discusses the management strategies and challenges. He focuses a lot of effort on people issues - hiring the right staff and then growing them into the professionals you need. He also spends a ...more
Maister walks through almost every part of running a consulting firm, and discusses the management strategies and challenges. He focuses a lot of effort on people issues - hiring the right staff and then growing them into the professionals you need. He also spends a ...more
I'm impressed with this collection of articles directed at those responsible for managing professional service firms such as legal, accounting, business consulting firms. David Maister has done a good job.The book was published in 1993 and is really a collection of articles that he'd written for other journals such as "The American Lawyer". So, I guess, many of the articles were really much older than 1993. However, to my eye, they stand the test of time very well. Much of what he's written here
...more
This was one of those books that would’ve been my recommended reading in business school.
It’s dense, dry and took me forever to get through 😫 but the wisdom is definitely there and it’s timeless.
Some key takeaways:
You’re only as good as your inventory of skills and the strength of your client relationships.
Don’t just milk your skills, build them.
Growing means delegating.
Quality works doesn’t mean quality service. Create a program to collect feedback and market research, listen to clients and mak ...more
It’s dense, dry and took me forever to get through 😫 but the wisdom is definitely there and it’s timeless.
Some key takeaways:
You’re only as good as your inventory of skills and the strength of your client relationships.
Don’t just milk your skills, build them.
Growing means delegating.
Quality works doesn’t mean quality service. Create a program to collect feedback and market research, listen to clients and mak ...more
Read while serving a organization!
The book did cover concepts that are relevant to the service industries in general. This read might make sense only while serving in an organization, which otherwise if read would just appear as advice without established contexts.
I liked the comprehensive nature of the writings. The author having researched numerous service organizations seemed to provide a very detailed view and scenarios which might be eminent in any service industry. It is a must read for t ...more
The book did cover concepts that are relevant to the service industries in general. This read might make sense only while serving in an organization, which otherwise if read would just appear as advice without established contexts.
I liked the comprehensive nature of the writings. The author having researched numerous service organizations seemed to provide a very detailed view and scenarios which might be eminent in any service industry. It is a must read for t ...more
To be fair, this rating is specifically how I felt about this book, not how good it is for what it was. I read this for work, and while it had some interesting points and things I will attempt (and have attempted) to implement at my job, a lot of it was totally irrelevant to me and my life. But again - I'm not really the intended audience for this, so take my review with a grain of salt. I think it was very interesting to learn how much is still relevant from a book that was published more than
...more
I read this when I had long left the professional service firm environment and found it an illuminating practical manual for getting a group of people to provide a service as a common goal and to grow that provision. I enjoyed the dispassionate (read: soulless) way that the achievement of efficiency is discussed across the various dimensions of running a professional service firm. It's the 'other side of the coin' from the community initiatives and spiritual group endeavours I take part in. Taki
...more
In its day, the bible for anyone seeking to build a successful business based on selling the time of experts. While still a recommended starting point, the real examples in the book are starting to feel dated. The models proposed need updating for an age where Artificial Intelligence will replace much of the grunt-work that once supported stellar Partner drawings and younger incomers are wiser about the dollars being earned from their long hours.
One of those books I wish I'd read 10 or 20 years ago. Does a fantastic job articulating and clearly laying out things I've learned the hard way, and introduced a number of concepts I plan on immediately applying to my work. Published in the '90s but the advice is evergreen for anyone who does consulting or works for any other organization structured in or like a partnership (law, medicine, etc.). Pretty readable for how dense it is, but it still took me a few months to finish.
(Nearly) forgotten lore on how to run a professional services business - written in 1993. Very relevant for the current wave of IT consulting and software house businesses.
Best advice:
1. Listen to clients.
2. Measure client satisfaction.
3. Set up mentor-mentee relationships.
4. Strive for high quality (how to define quality).
The book also covers:
1. Motivation.
2. Profitability management.
3. Partners management (owners of the business).
4. Sales management.
Best advice:
1. Listen to clients.
2. Measure client satisfaction.
3. Set up mentor-mentee relationships.
4. Strive for high quality (how to define quality).
The book also covers:
1. Motivation.
2. Profitability management.
3. Partners management (owners of the business).
4. Sales management.
I don’t think there’s any book I’ve made so many highlights in. This is jammed full of useful information for running a partnership. It feels dated in places, but the key ideas seem adaptable to current times.
I’ve not finished the whole book as I don’t c need to dig deeper at the moment. Wish I read this 5 years ago.
I’ve not finished the whole book as I don’t c need to dig deeper at the moment. Wish I read this 5 years ago.
In relation to running a business that sells a service - this is the best book I have ever read ever.
Reading it once through has been thoroughly enjoyable, it has insights into every aspect of a service firm. It's written with lawyers in mind but can be easily translated to agencies.
I will be picking it up again and again in the future as a reference book.
Reading it once through has been thoroughly enjoyable, it has insights into every aspect of a service firm. It's written with lawyers in mind but can be easily translated to agencies.
I will be picking it up again and again in the future as a reference book.
The first couple chapters were amazing and applicable. Unfortunately the last quarter of the book devolves into multinational cross Branch drum beating and doesn't really apply to anyone anywhere. I work for a 80,000 person engineering firm and the last few chapters felt like I was wasting my time looking for valuable information.
Despite its age (which shows in several ways), there were *many* direct lessons here (applicable across industries and time!) that I’ve burned time learning the hard way. Clear, practical advice along with alternatives and tradeoffs.
Written 20 years ago but still applicable to any professional services firm. My copy is dog eared and annotated and I’ve purchased copies for colleagues as well.
I just gave a biz book 5 stars. Probably my first and only.
I just gave a biz book 5 stars. Probably my first and only.
A timeless classic.
"per partner profit" rings true.
"per partner profit" rings true.
A ton of great practical information and very helpful, uplifting, and guiding as I start my career in professional services.
Indispensable! I'll need to refer back to it while my business grows.
Very practical reading
This books is like an arsenal of tools to form and grow a professional service firm. Examples and cases are rich and helpful.
This books is like an arsenal of tools to form and grow a professional service firm. Examples and cases are rich and helpful.
The foundation for understanding how to manage teams of professional consultants.
Fascinating and insightful book about how a good professional service firm should be run.
Nice book with evergreen concepts for consulting firms (in my case what I was looking for)
Some reflections are dated for nowadays internet world
Some reflections are dated for nowadays internet world
Very straightforward and practical guide to a Professional Services firm.
The underlying themes include: that real professionalism is about serving clients, associates and yourself as best as possible and that this will also maximise success as well as being the ethical thing to do; that individuals and firms should concentrate not just on generating as much work as possible but on generating the right type of work – firstly (more for individuals) the types of work they want to do and the type o ...more
The underlying themes include: that real professionalism is about serving clients, associates and yourself as best as possible and that this will also maximise success as well as being the ethical thing to do; that individuals and firms should concentrate not just on generating as much work as possible but on generating the right type of work – firstly (more for individuals) the types of work they want to do and the type o ...more
Great book! A must read for anyone who wants to spend their career working in a professional service firm. Despite the date it was written, this book remains very relevant today. The first few chapters focus on ‘leverage’ for firms, with which it is actually referring to employees, and what balance between partner/employees that the firm should have. It compares the employees at the firm to leverage with a company in a different industry. The middle of the book is about marketing, where it encou
...more
This is an excelent book for anyone effectively running or working or even considering hiring a professional services firm. The book is extremely structured. It begins with the basics, the fundamentals of the business model, defining concepts like leverage, classifying the engagements by types, etc. After the basics are established, it goes through the most important elements for defining success: client, people etc. It is an excelent book, and after reading it, you don't need much more than tha
...more
This is a terrific book, explaining as it does many of the mechanics of running a professional services company. In its style, it reminds me of Porter's Competitive Strategy in that it is fairly dry yet lucid and convincing in making its points.
Maister devotes a number of chapters to the care, feeding, and growth of a consulting firm, describing the seemingly difficult trade-offs to be made between the long term health and growth of skills, people, market offer versus near term sales and revenue ...more
Maister devotes a number of chapters to the care, feeding, and growth of a consulting firm, describing the seemingly difficult trade-offs to be made between the long term health and growth of skills, people, market offer versus near term sales and revenue ...more
Although a bit outdated this book was very good. I typically don't enjoy reading books that have to do with work but this book provided some insight that is very useful in managing a professional services firm. In particular the notion of improving the leveragibility of existing/junior staff as opposed to hiring externally can generate revenue and increase margins. Also, the mix between the types of professional services firm provides insight on who/what the firm is that is insightful in terms o
...more
Although outdated (1993), I picked this book up after a recommendation by one of my collagues. Maister provides an overview of all aspects of a professional service firm such as managing clients, people, strategy and performance. All chapters are short, well-structured and provide practical tips and examples.
The best way to read this book is to select one topic of your interest (f.a. systematic underdelegation) and spend some time to make the link back to your own work. In this way, it remains ...more
The best way to read this book is to select one topic of your interest (f.a. systematic underdelegation) and spend some time to make the link back to your own work. In this way, it remains ...more
To my technical friends: Creating a successful software development consulting business isn't really about the tech. As in any startup, it is about building a business. This book provides a good grounding in the challenges and common approaches that succeed in professional services. If you are starting a small technical consulting firm you should read this just to get a better idea of what you will be thinking about most of the time (hint: not technology).
A collection of articles originally published in HBR, this volume has become, for good reason, the standard handbook for anyone in a leadership or management role in a professional service firm: consulting, law, accounting, etc. Each chapter provides a solid introduction into the most important aspects of firm management, from practice-building to compensation to how to lead other professionals.
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