*Why (Some) MPs Can't Lead

Source: The Marc Rosenberg Blog 

The following includes excerpts, reproduced with permission, from a blog entry by Marc Rosenberg. He describes several common obstacles to an MP's ability to lead and offers tips for overcoming them:

The other partners refuse to follow. If the firm's culture allows partners to do whatever they want whenever they want to, it's almost impossible for the MP to be a real leader. Establish a culture of holding partners accountable for their performance and behavior. 

The other partners are complacent. Partners reach a point where they have attained a client base and compensation level to make them fat and happy. Partner comp systems should have built-in factors that prevent partners from coasting on past accomplishments. 

The other partners are reluctant to compensate the MP at a high level for managing the firm. This results in the MP failing to make the firm his/her #1 client. All new MPs should be required to give up a meaningful amount of their clients to free their time up for management duties.

Failure to separate management from admin. Admin should be done by a high-level, experienced COO or firm administrator, not the MP. If the MP finds it irresistible to do admin tasks or the firm under-hires the FA/COO slot, the MP will be bogged down in the day-to-day, unable to focus on the big picture. Hire the best COO you can find.

For the complete entry, read “What Stops MPs From Being Real Leaders?” 

From The Marc Rosenberg Blog, July 14, 2014, http://blog.rosenbergassoc.com/.