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Summary: Wesemann's a Wise Man!
Review: Thirteen chapters and every one a thought provoker. I thoroughly recommend this book.
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Summary: Not Just For Law Firms . . . And Long Overdue
Review: This is a great read and a fabulous guidebook to overcoming the ingrained biases in your thinking and addressing those seemingly impossible problems and tough issues inherent in managing a professional firm.The author, Ed Wesemann, manages to delightfully provoke the reader's thinking: "most firms would be more profitable if they fired 80 percent of their clients," and "you can't get anything done with concensus management when everyone has a veto. It's like being managed by the UN Security Counsel." Chapter One prescribes a number of cogent actions to take for Firing Unprofitable Clients; while the next chapter highlights the Ten Terrible Truths About Strategic Planning. Subsequent topics include valuing management, handling compensation issues, mergers as a marketing tool, and non-equity partnerships. My personal favorites are the chapter entitled Pricing to the Market that offers a highly innovative approach to analyzing price sensitivity and The Seven Basic Laws of Successful Networking, which will redefine your views on networking. The book concludes with timely chapters covering When Good Firms Go Bad, and an in depth look at seven future trends likely to impact professional firms over the next five years. While targeted to "Law Firm" managing partners and administrators, it is my strong belief that this text offers solid guidance to those having responsibility for managing any kind of a professional service firm.
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