What is a Managing Partner?

Source: A Marketing Moment

Following is a recap of an article by Bryan Shelton, M.S., Consultant, The Rainmaker Consulting Group.

"Managing partner" refers to the leader or person in charge of the firm; however, in some firms the person with that title functions more like a "coordinating partner."

Real managing partners envision the firm's path to the future. They surround themselves with people who can help in that quest. Managing partners influence others to follow. They help define goals and measure success.

Coordinating partners focus on the status quo. They offer no guidance for the activities or behaviors of other partners. They surround themselves with partners who control the largest books of business and focus on obstructing change.

Coordinating partners lose top performers.

Some people are a combination of the qualities of managing and coordinating partners.

Here are some suggestions for those who want to forsake coordinating in favor of managing:

• Don't initiate too many simultaneous changes. Start small.
• Create a personal development plan.
• Get a coach.
• Get training in executive leadership skills.
• Develop a system to measure the progress of partners and staff towards achieving their goals.
• Listen to other partners but don't cede control to the loudest voices.

"Management is doing things right; leadership is doing the right things."--Peter F. Drucker

For the complete article, click here.

From A Marketing Moment--Marketing Ideas for the New Millennium, The Rainmaker Consulting Group, Nashville, TN, www.therainmakeracademy.com, Winter 2010, "Are You a Managing Partner or Coordinating Partner?"