The former CEO of Moss Adams, Bob Bunting, said to me once that 70% of the professional skills are learned through practical experience, finding out what works and what doesn’t, and that 20% of the skills are learned from one’s coaches and mentors. Finally, the remaining 10% of skills are acquired from classes and reading. What is important, though, is that the 10% and the 20% can significantly accelerate and improve the acquisition of the 70%.
Careful client relationship management is the cornerstone of a successful practice of any size. Every relationship that a firm initiates changes it a little or a lot. The accumulation of those relationships ultimately changes the nature of the firm. If each relationship is managed well, then the result is a cohesive group of clients who enjoy a sustainable and growing relationship with your firm.
Philip Palaveev is the CEO of the Ensemble Practice LLC. He’s an industry consultant, author of the books G2: Building the Next Generation and The Ensemble Practice and the lead faculty member for the G2 Institute.