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Are you a principal? Defining the principal role requires considering what needs to be done in order to lead a team to success
I n working with clients, I’ve often been asked this question, most frequently by a senior person who thinks he or she ought to be made a principal in their firm, or by the firm’s leadership team when they’re considering elevating a person. Most often, though, the question is posed after a person has been named a principal, and the leaders are struggling with how to define the new principal’s role or job description.
Ed Friedrichs
Just because a person is made a principal, it doesn’t mean they automatically know how to act upon the change in their role in the firm. What should they be held accountable for? What behavior should they display? “Foster an environment that achieves a positive team esprit, happiness, and a sense of pride in accomplishment. Encourage ongoing professional learning and career development among team members.” In defining the role of a principal, we need to look at what must be done to lead a firm or a team of people to achieve success. There’s an inventory of tasks and roles that need careful attention at all times for an enterprise to be successful – for its clients, for the people in the firm, for financial
success. In fact, this holds for all stakeholders, including consultants, a jurisdiction’s building and planning departments, bankers, contractors and sub-contractors, vendors and their sales teams, and everyone who participates with or comes in contact with your team/firm. I suggest firms think of the principal role in this holistic fashion. Here are some roles for you to consider: Make it the entire team’s responsibility to achieve client satisfaction. Make each team member a part of monitoring how your client feels about the way you are serving them, shaping your services to continually improve that relationship. Measure your success in this role through repeat and referral business from your clients. Continually develop re- lationships with potential clients and those who can introduce or recommend you to them. Be an active networker in the community. Continually nurture the relationships you’ve established. Create a collaborative working environment for everyone involved in your work, including all internal and external stakeholders. You can treat the building inspector or contractor as your enemy, or See ED FRIEDRICHS, page 4
THE ZWEIG LETTER JANUARY 4, 2016, ISSUE 1133
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