Why you decided to chose this resource.
We’ve been studying professional service firms for a while. Some knowledge I’ve gained through my personal experience, and some knowledge through learning about companies through books. The reason I chose this book was because it was a New York Times Best Seller and was featured in the Economist. It also showcases common elements in some of the best professional firms in the world.
What did you learn from it?
This book analyzes the behaviors, attitudes,and techniques of the world’s greatest firms. I learned that we have inherently adopted some of their secrets but we have a long way to go. The best firms that the author profiled.
- McKinsey (Management)
- Cravath (Law)
- Capital Group (Finance)
- Goldman Sachs (Investment)
- Mayo Clinic (Medicine)
Key Knowledge : The Secrets to Achieving Excellence
- Mission: An inspiring long-term purpose.
- Culture: How we do things around here.
- Recruiting: Getting the right people.
- Developing People: Training, Educating, and Organizing for Excellence.
- Client Relationships: Developing ties that last.
- Innovation: Changing how the game is played.
- Macro Innovation: Changing the Game.
- Leadership: Bringing the secrets together.
- Luck: Sometimes it really matters.
How are you using what you learned?
We are doubling down commitments and priorities and making sure that we don’t compromise internal integrity so that we reflect in excellence outside. We’re also reconsidering how to hire. The best firms hire the best from universities and train them. Very rarely do they hire “laterally” or people that already have “experience.” The best firms are the best place for their members to learn and gain experience.
Key Changes
- We’re going to clarify and re-communicate the Purpose, Mission, and Eternal Goals so that everyone knows our direction.
- We’re going to make our recruiting process to hire people that are future Partner material. We will ask them early on whether they’ll consider coming full time if the opportunity presents itself.
- Over time, we’ll need to gather talent from educational institutions and eventually create our own training program to produce the best Anant members.
How can we as a company or individuals in the company use this?
- See ourselves as developing into world class professionals.
- See our company developing into one of the world’s greatest lasting professional firms.
- Become the best modern entrepreneurship firm in the world with the best internet architects and entrepreneurs.
- Create a work place that attracts and trains the smartest, brightest, and most capable internet architects and entrepreneurs come to world.
- Strive to get an unfair share of the best staff to work for our company.
Sources
- Audible : in Rahul’s Account
- Library : in DC Office
- Amazon : What It Takes: Seven Secrets of Success from the World’s Greatest Professional Firms
- Video : Charles Ellis: The 5 greatest professional firms
- Video : Charles Ellis: The 5 greatest professional firms
