Everything from gaining credibility to where to turn for help.
By Marc Rosenberg
The Role of the Managing Partner
The toughest lessons for new managing partners have nothing to do with taxes, accounting, or even textbook management. It’s all about people – such as people issues and handling partners, according to our straw poll survey of a handful of top-flight firm leaders.
We gleaned comments from 10 relatively new managing partners. Eight are from firms with revenues from $10 million to $30 million and two are from $5 million to $10 million firms.
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We posed three questions to the new managing partners:
- What advice would you give a new managing partner?
- What were your greatest challenges when you became a managing partner?
- If you had to do it over again, would you approach your ascension to the managing partner job differently? In what ways?
Their responses tell us as much about how to do the job well as how to fail at it.
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