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The Art of Managing Professional Services: Insights from Leaders of the World’s Top Firms by Maureen Broderick

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4. Portfolio

Strategy, client mix, and relationship management

“Client relationship management is critical. You can take nothing for granted. It’s just like building a relationship with your spouse or your friends—you have to work at it.”

—Ralph Baxter, Chairman and CEO, Orrick

“If you’re serving the wrong clients, you don’t have a chance for success.”

—Bill Hermann, Former Managing Partner, Plante & Moran

“If you truly understand your clients, and you truly understand your mix within an industry or geography, you can more effectively manage the profitability of your portfolio.”

—Rike Harrison, Chief Growth Officer, Wipfli

For PSFs, the client base, in effect, defines the business. Clients represent much more than a revenue stream: They ...

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