Managing The Professional Services Firm Book Review

1) Written by David Maister, a Harvard Business School professor and consultant to some of the world’s top professional service firms. You can see his work at (https://davidmaister.com/).

2) Managing the professional services firm in one of the best books on recruiting and sustaining a business that relies on highly skilled individuals.

3) This is very different from most online business books that discuss creating a system that can be executed on by anyone (a simple system like running a McDonalds).

4) Many entrepreneurs get caught in the trap of thinking that their business should be able to depend fully on low skilled workers so long as the system they develop is correctly structured. This is an idea that is supported by books like Michael Gerber’s The E-Myth Revisited, The 4-Hour Work Week and to a lesser extent books like traction.

5) This also leads many people to the mistaken idea that service businesses cannot scale and their is no way to have a service business that is functional at a large scale.

6) Clearly there is a way to have a business that is heavily dependent on human capital. The largest software giants rely on recruiting developing and creating teams of the most highly skilled engineers. In terms of professional service organizations, there are consulting, accounting and legal firms that rely on highly skilled individuals and are able to scale to over 1 billion in revenue per year.

7) Many of these firms reached this scale without the benefit of being able to utilize remote or distributed teams. Many of these companies grew to this size without the benefit of the internet. So there is clearly a way that companies can manage this challenge.

8) The solution is to blend ideas from books like The E-Myth, that discuss having a well develop system and combine those systems with ideas from book like Dan Sullivan’s “Who Not How”. You need both a great system for recruiting and developing highly skilled individuals that are in the right seat for that point in their career.

9) The book goes into great depth in discussing how to know what the “right seat” is and what the right mix of junior to senior level employees is in order to maximize the effectiveness of your team.
10) The book also discusses general styles of practices for professional service firms and how to understand how the mix of junior to senior level talent you have on your team affects the clients you can serve.
11) Overall the book presents a unique picture of what a professional service organization should look like as it grows.


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