Top tips for when you become a partner

During my time at BDO, I interviewed hundreds of potential partners. We always gave them the opportunity to ask questions at the end of the interview and one of the most often asked questions was “what advice would you give to a new partner?”.

Written by:

Wendy Walton

Date:

December 12, 2023

1.     Pace yourself

This was always our first piece of advice.  There is a tendency to think that on becoming a partner you have to prove yourself and be all things to all people immediately.  You can feel a sense of urgency to go out and win a huge piece of new work or perhaps deliver a massive project in record time.  Whilst these things may appear nice, you will (hopefully) be a partner for a long time and it much better to pace yourself and take your time to develop into the role.  A few months before promotion, I always recommended to the new partners that they write a 100 day plan.  Some took that advice and some didn’t!  It really is worth setting aside some time to think about what you will do in those first 100 days as a partner.  What will you do differently?  You will now be working on the business as well as in the business.

2.     Consult

You are now a partner – the clue is in the name – you are in partnership, you are not a sole trader.  You have a responsibility to your partners.  If you are unsure about what to do, then the golden rule is always to consult.  It would be frowned upon if you don’t.

3.     Be Yourself

People, both clients and your team, will look at you differently now that you are a partner.  Some of your team will have known you for years but new team members may only have ever known you as a partner.  Your team will be looking to you as their leader.  The “tone from the top” and “leading by example” are so important.  Authenticity is a vital leadership skill and your team will see right through you if you are not genuine.  In any case, not being yourself is exhausting.  Remember that it is also ok to show vulnerability too.  In fact, this is no longer frowned up and is also seen as a key leadership skill.

4.     Look After Yourself

As a leader, you have a responsibility to ensure the wellbeing of your team.  However, it is also key that you take time to look after yourself.  I used to advise our team to be kind to themselves – but what does this really mean?  It means taking time out to do something for you – that could be running, walking your dog, reading or taking some time out to meditate.  Really anything, that gives you a bit of headspace and the opportunity to relax.  An exhausted overworked and stressed leader is not a good role model.

5.     Be Open to Opportunities

Partnership will brings lots of new opportunities your way to develop.  Have a growth mindset and be open to new opportunities.  Getting involved in different projects and helping other parts of the business not only broadens your horizons but can also be great fun.

6.     Ask for Help

Asking for help is no longer seen as a sign of weakness.  In fact, asking for help is one of the defining moments of my partnership career.  Coming back from maternity leave, as a new partner, with very few clients, I said in passing to another partner “I know that I am going to need help”.  It was music to their ears – they introduced me to many potential clients and contacts and acted as a real sponsor and advocate for me.  This leads on very nicely to my next point.

7.     Seek out a mentor

Most partners will be really happy to act as your mentor.  Find a more experienced partner who will be willing to share their experiences and share with you “how it is done around here”.  Ideally meet with them for 90 minutes every 4-6 weeks for the first 9-12 months.  I benefited from mentors throughout my career – I used different mentors for different things.  One in particular, was extremely different from me and I knew that I would always get a different perspective to my own and constructive challenge.

8.     Give back

Act as a mentor for those aspiring to be a partner – share your experiences, it’s a great thing to be able to give back and see others succeed.

9.     FEEL

What do I mean by that?  It’s an acronym I use – Focus, Excel, Energise and Lead.  Know what your personal mission statement is ie how do you want to be seen by others, focus on that and be really good at it.  Then energise yourself and others and lead by example.  

10.  Have Fun

And finally, don’t forget to have fun!  Being a partner is an absolute privilege and having fun along your journey as a partner is an absolute must.

Wendy Walton Linkedin

Wendy Walton is an executive and leadership coach who helps partners, and aspiring partners, in professional services firms to succeed by inspiring them to achieve their full potential on their leadership journey.

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