My friend Rich Gary has an enlightening
column in the current issue of Law Firm Inc. in which he addresses
"Ten Questions CMO’s Must Be Ready to Answer."
If all CMO’s came to the table prepared
to respond to these as thoughtfully and thoroughly
as Rich suggests they should, I suspect the
job-tenure half-life of CMO’s would immediately
double or triple.
Rich seats CMO’s squarely at the table. He
insists: "Don’t
be afraid to speak up. You’re a member of
the firm’s senior management team, and your
opinion should be sought and valued on key
issues." Even if it means telling
the managing partner that the firm offers no compelling
value to clients!
Rich also endorses a practice I see spreading, recently, among the more enlightened firms I work with: Client service teams. Client service teams form and re-form on the fly as a client’s portfolio of legal needs changes. Your CMO should never miss a client service team meeting.
Most importantly, Rich approaches the CMO’s
job from a perspective deeply rooted in firm
strategy, and the financial and economic
realities of its practice areas, its approach
to client relations, and even—critically—its
partner compensation system. Not that
Rich recommends incorporating the CMO’s evaluations
of partners into the compensation calculation,
but that he clarifies the essential connection
between the inputs into setting compensation
and the predictable outputs in terms of partner
behavior. Any CMO who does not understand
the dynamics at play will be in a poor position
to do their job.
Lastly, Rich reminds us that no matter how
professional, dedicated, creative, energetic,
and visionary a CMO may be, all is for naught
without the solid backing of the partnership:
"You must earn the confidence and
respect of the partnership and be able to
work with the partners in every office and
practice area, whether they actively support
the firm’s marketing efforts or not. It’s
impossible to overstate the importance of
this responsibility."
Ultimately, managing partners get the C-level
executives they deserve. Those who
strengthen and grow their firms are astute
at selecting talented people, putting them
in fertile soil, and getting out of the way.
