Learn more about
Grow Without Boundaries
Origins and benefits
Making the most out of existing client relationships is seen by many professional service firms as a key to profit growth. This opportunity is less about cross-selling and more about multiple practice groups working together to solve clients' most complex problems. To realise this growth potential, many firms have client-centricity and internal collaboration as key elements of their strategy and culture.
Grow Without Boundaries helps firms execute a client-centricity strategy more effectively and reliably.
Grow Without Boundaries focuses on breaking down silos and getting partners and staff to work more effectively across disciplines, sectors and locations.
Grow Without Boundaries helps make collaboration a strategic capability and shifts the firm's culture from being merely collegiate to being truly collaborative.
There is vast body of evidence to support the core principles and approach of Grow Without Boundaries.
The most recent analysis comes from Harvard Business School Professor, Heidi Gardner. Her book, Smart Collaboration (Harvard Business School Press, 2017) details the results of a 10-year research project into cross-practice collaboration in professional service firms. In one case study she demonstrated that an integrated service model in a law firm had a seven-fold revenue improvement over a cross-sell model. Her research also provides evidence to support significant client loyalty, staff engagement and price premium benefits.
28 years in the making
Grow Without Boundaries has been developed by Joel Barolsky, the Founder and Managing Director of Barolsky Advisors P/L.
Joel has worked with over 100 of Australia and New Zealand's top professional service firms for the past 28 years. He is a Senior Fellow of the University of Melbourne where he teaches a subject called "Management for Professionals". Joel is a former principal and strategy practice leader of Beaton Research and Consulting. He publishes the Relationship Capital blog and is the lead author of the 2015 and 2016 Thompson Reuters Peer Monitor Melbourne Law School report on the Australian legal market.
For further details go to http://www.barolskyadvisors.com
Tailored for professional service firms
Grow Without Boundaries is specifically designed for large and mid-sized law, accounting and engineering firms. These firms typically operate within a partnership structure or model where the senior practitioners wear multiple hats: owners, rainmakers, producers and practice leaders.
Most of these firms have intangible assets in the form of human capital, structural capital, brand capital and relationship capital. The services are delivered within the constraints of professional norms of conduct and respecting the limits of professional expertise.
Addresses both strategy and culture
Grow Without Boundaries recognises the need to address both the head and the heart, both the firm's strategy and the cultural context. Crafting a magnificent evidence-based strategy based on client-centricity will get nowhere without partner and staff buy-in. Having everyone in the firm committed to the wrong strategy just mean you will fail faster.
To execute your strategy of client-centricity more effectively and reliably,
there are six areas where we can help...
#1 Reset mindsets and attitudes
Addressing the sceptics
Your firm will most likely have its fair share of solo specialists, deal junkies and control freaks. Getting EVERYONE on the collaboration bus is crucial to realise your firm's potential.
Our services include a series of presentations and workshops providing the objective research evidence for smart collaboration and working through points of resistance and challenges. Independent facilitation of this buy-in process makes a significant difference.
#2 Fine-tune measures and reward
Setting the right signals
The measurement and reward system in your firm will most likely get geared towards driving individual performance and accountability. While well-intentioned, this is often major structural and cultural barrier to true collaboration. Firm leaders need to set the right measures, incentives and sanctions to facilitate growth without boundaries.
Our services include analysis and recommendations on:
* performance management processes
* measurement and reporting systems
* partner remuneration
#3 Develop your CRPs and other boundary-spanners
Creating leaders and levers
The Client Relationship Partner (CRP) role is the most important boundary-spanning position in your firm. CRPs lead the community of practitioners servicing the client over time. The financial returns expected from smart collaboration will be a function of CRPs' empowerment, energy and capability.
Our services include training in CRP role clarification and selection, strategic account leadership, business literacy development, and providing advice and planning tools on client strategy.
#4 Create the right
Supporting high-touch with high-tech
Technology can assist in connecting your partners with the right opportunities and knowledge. It can also help mitigate the many barriers to collaboration.
Our services include advice on collaborative technology platforms, how to develop and roll them out. We are not IT consultants but rather assist you in procuring and using the system that is best for your firm.
#5 Improve your key client program
Getting a better return for your investment
Your firm will most likely have a program for identifying and prioritising its key clients. After some initial excitement, many of these programs slip into "set and forget" mode and realise sub-optimal returns.
Our services include strategic review of key client programs using our proven 7-Pillar model. This usually leads to improvements in client selection, client governance, CRP effectiveness and other changes to realise the full potential of these programs.
#6 Provide strategy and governance advice
Driving change from the top
Your leadership is key in driving a strategy of client-centricity and collaboration. Firm leaders need to:
Our services includes crafting firm strategy, clarifying values, facilitating design workshops, and providing implementation guidance for managing partners.
© Barolsky Advisors Pty Ltd 2017