Firm Size Matters
Three years into owning my firm, I have realized company size matters.
But it depends on the individual.
I had the pleasure of being president of a mid-level to large consulting firm. Most of my time was dedicated to a combination of three things. Limited client work, massive concerns about sales (the next one) as it pertained to ensuring profit, and constant worry about the most important asset of the firm…the people whom I was privileged to lead. There was never enough time for any of these areas of responsibility, but there were plenty of short- and long-term items to worry about daily.
In my own small firm, there is certainly an awareness of future sales with the requisite financial work that is part of simply having a business. And being by myself, I should worry about “my people,” but I don’t.
What is the biggest difference? First, I don’t have the fixed costs of infrastructure, those expenses of dedicated people for HR, finance, etc. Plus, there aren’t any partners (owners) to feed quarter after quarter. The reduction in pressure in this area is amazing. The second biggest difference is the reason I like being a small firm (by design): time with clients.
If philanthropy means service to those missions that are trying to make something in our community better (love of mankind/humankind), then consulting should be the fidelity that supports those on the frontline doing the work. And that is the majority of my time. And not just my paid time. I have the honor of speaking with people who aren’t even paying me. They need just a few minutes to discuss a challenge, to have a sounding board. And because I am not beholden to the next sale because of a smaller infrastructure base (cost), I can easily do that with any financial consequences. Isn’t that what we all should do?
In addition, I hope my gray hair which was developed through trial, effort, challenge, and success is useful to those who seek my advice. For me, there is great glory in telling a client or a future client that if Hallett Philanthropy is chosen, they will get me. The gray hair. The wisdom that came from the experience that caused my hair to go from brown to gray. They get me and not someone else they have never met and most likely has not seen what I have seen.
All of this is individualistically appropriate. Some people thrive in a large firm environment. And I say, “Good for them.” But I want (and almost need) that interaction with clients, to feel the direct service to those on the frontlines.
It’s funny how things seem to (sometimes) end up where they need to be.
