Time for a Reality Check

“The first responsibility of a leader is to define reality.” Max DePree

The words of Max DePree, the renowned leadership guru and member of Fortune magazine’s National Business Hall of Fame, should resonate with the leaders of professional service firms as they adapt to a new business paradigm.

Developing an understanding of how competitive landscapes have shifted, how client requirements are changing and what strategies are now appropriate is crucial for longer term survival let alone success. With a perspective founded in a realistic assessment of market opportunities and one’s relative competitive position, stretch objectives can be agreed and plans put in place which motivate people and maximise available resources.

The market for professional services that emerges over the next year will require a different way of thinking, new products and innovative services. For firms to remain competitive, this new approach will need to be developed rapidly, organisations reshaped and go-to-market tactics put in place and executed. The ability to translate lofty ideas into actions on the ground, creating revenue streams and delivering cash into the firm’s coffers, is the reality “cheque” that ultimately matters!