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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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6. Finance

Planning, metrics, and reporting

“Financial management is the bedrock. You can’t be successful if you don’t end up with competitive earnings, whatever metrics you use.”

—Steve Harty, North American Chairman, BBH

“The most important metric we look at in analyzing financial performance is profits per partner, because that’s ultimately what it’s all about.”

—Rodge Cohen, Chairman, Sullivan & Cromwell

“We’ve got to make sure that it’s not just about the metrics—it’s about exceeding our client’s expectations and doing innovative design. If we do great design, the money follows.”

—Andy Cohen, Co-CEO, Gensler

Although it is true that most professionals in PSFs enjoy what they do and are driven by their work more than the money, let’s ...

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