Ouch!Ouch!

““Data drawn from the real world Data drawn from the real world attest to a fact that is beyond attest to a fact that is beyond

our control:our control: Everything in existence tends to deteriorate.”

—Norberto Odebrecht, —Norberto Odebrecht, Education Through WorkEducation Through Work

LONGLONG

Tom Peters’Tom Peters’

Excellence!Excellence!

NOW!NOW!Foley & Lardner LLP/Annual Partners MeetingFoley & Lardner LLP/Annual Partners Meeting

ChicagoChicago/15 September 2011/15 September 2011(Presentation/Presentation (Presentation/Presentation LONGLONG @ tompeters.com) @ tompeters.com)

NOTENOTE:: To appreciateTo appreciate this presentation this presentation [and ensure [and ensure

that it is not a that it is not a messmess],], you need you need Microsoft fonts:Microsoft fonts:

“Showcard Gothic,”“Showcard Gothic,” “Ravie,”“Ravie,” “Chiller”“Chiller”

andand “Verdana”“Verdana”

““[This year’s] graduates are told [by [This year’s] graduates are told [by commencement speakers] to pursue commencement speakers] to pursue

happiness and joy. But, of course, when you happiness and joy. But, of course, when you read a biography of someone you admire, it’s read a biography of someone you admire, it’s rarely the things that made them happy that rarely the things that made them happy that compel our admiration. It’s the things they compel our admiration. It’s the things they

did to court unhappiness—the things they did did to court unhappiness—the things they did that were arduous and miserable, which that were arduous and miserable, which

sometimes cost them friends and aroused sometimes cost them friends and aroused

hatredhatred. . It’s excellence, not It’s excellence, not hahappppiness, that we admire iness, that we admire mostmost.”.” —David Brooks, “It’s Not About You,” op-ed,—David Brooks, “It’s Not About You,” op-ed,

New York TimesNew York Times, 30 May 2011, 30 May 2011

Why in the Why in the

World did World did youyou

go to go to SiberiaSiberia??

EnterpriseEnterprise* (*at its best):* (*at its best): An An emotionalemotional, , vitalvital, , innovativeinnovative, , jojoyyfulful, , creativecreative, , entreentreppreneurialreneurial endeavor that elicits endeavor that elicits maximum maximum

concerted humanconcerted human potential in thepotential in the wholehearted pursuit of wholehearted pursuit of EXCELLENCE in serviceEXCELLENCE in service of others of others.****Employees, Customers, Suppliers, Communities, Owners, Temporary partners**Employees, Customers, Suppliers, Communities, Owners, Temporary partners

#1 #1

““The doctor The doctor interruptsinterrupts after …*after …*

*Source: Jerome Groopman, *Source: Jerome Groopman, How Doctors ThinkHow Doctors Think

18 18 ……

18 … 18 … secondsseconds!!

[An [An obsessionobsession with] Listening is ... the ultimate mark with] Listening is ... the ultimate mark

of of RespectRespect..

Listening is ... the heart and soul of Listening is ... the heart and soul of EngagementEngagement..Listening is ... the heart and soul of Listening is ... the heart and soul of KindnessKindness..Listening is ... the heart and soul of Listening is ... the heart and soul of ThoughtfulnessThoughtfulness..Listening is ... the basis for true Listening is ... the basis for true CollaborationCollaboration..Listening is ... the basis for true Listening is ... the basis for true PartnershipPartnership..Listening is ... a Listening is ... a Team SportTeam Sport..Listening is ... a Listening is ... a Developable Individual SkillDevelopable Individual Skill.* .* (*Though women (*Though women are are farfar better at it than men.) better at it than men.)

Listening is ... the basis forListening is ... the basis for CommunityCommunity..Listening is ... the bedrock of Listening is ... the bedrock of Joint Ventures that workJoint Ventures that work..Listening is ... the bedrock of Listening is ... the bedrock of Joint Ventures thatJoint Ventures that growgrow..Listening is ... the core of Listening is ... the core of effective Cross-functional effective Cross-functional CommunicationCommunication* * (*Which is in turn Attribute #1 of (*Which is in turn Attribute #1 of organizational effectiveness.)organizational effectiveness.)

[cont.][cont.]

““I wasn’t bowled over by I wasn’t bowled over by [David Boies][David Boies] intelligence … What impressed me was intelligence … What impressed me was

that when he asked a question, he waited that when he asked a question, he waited

for an answer. for an answer. He not only He not only listened … listened … he made me he made me feel like I was the only feel like I was the only

person in the roomperson in the room.”.” —Lawyer Kevin —Lawyer Kevin

_____, on his first, inadvertent meeting with renown attorney David Boies, _____, on his first, inadvertent meeting with renown attorney David Boies, from Marshall Goldsmith, “The One Skill That Separates,” from Marshall Goldsmith, “The One Skill That Separates,” Fast CompanyFast Company

**8 of 10 sales **8 of 10 sales presentations failpresentations fail

**50% failed sales **50% failed sales presentations … talking presentations … talking “at” before listening!“at” before listening!

—Susan Scott, “Let Silence Do the Heavy Listening,” chapter title, —Susan Scott, “Let Silence Do the Heavy Listening,” chapter title, Fierce Conversations: Achieving Success at Work and in Life,Fierce Conversations: Achieving Success at Work and in Life, One Conversation at a Time One Conversation at a Time

Message:Message: Listening is a Listening is a … …

professionprofession!!

““Execution Execution isis strategy.”strategy.”

Conrad Conrad Hilton …ilton …

Conrad Hilton, at a gala celebrating his Conrad Hilton, at a gala celebrating his career, was called to the podium and career, was called to the podium and

asked,asked, “What were the most important

lessons you learned in your long and

distinguished career?” His answer …His answer …

““remember remember to tuck the to tuck the

shower curtain shower curtain inside the inside the bathtubbathtub.”.”

““Execution Execution isis strategy.”strategy.”

—Fred Malek—Fred Malek

““One of my superstitions had One of my superstitions had always been when I started to always been when I started to

go anywhere or to do go anywhere or to do

anything,anything, not not to to turnturn backback ,, or or

stop, until the thing intended stop, until the thing intended was accomplished.”was accomplished.” —Grant*

*Ulysses Simpson Grant (U.S. Grant) was actually Hiram Ulysses Grant

““ARE YOU BEING ARE YOU BEING REASONABLE? Most REASONABLE? Most

people are people are reasonable; that’s reasonable; that’s why they only do why they only do reasonably well.”reasonably well.”

Source: Paul Arden, Whatever You Think Think the Opposite

The greatest dangerThe greatest dangerfor most of usfor most of us

is not that our aim isis not that our aim istoo hightoo high

and we miss it,and we miss it,but that it isbut that it is

too lowtoo lowand we reach it.and we reach it.

MichelangeloMichelangelo

““You miss You miss

100100%%

of the shots of the shots you never you never

take.”take.” —Wayne—Wayne GretzkyGretzky

““This is so simple it sounds stupid, but it is This is so simple it sounds stupid, but it is amazing how few oil people really amazing how few oil people really

understand thatunderstand that you only you only find oil if you find oil if you drill wellsdrill wells.. You may You may

think you’re finding it when you’re drawing think you’re finding it when you’re drawing maps and studying logs, but you have to maps and studying logs, but you have to

drill.”drill.”

Source: The HuntersSource: The Hunters, by John Masters, , by John Masters, wildly successful Canadian Oil & Gas wildcatterwildly successful Canadian Oil & Gas wildcatter

starts at home starts at home

““Being aware of Being aware of yourself yourself and how and how yyou ou

affect everaffect everyyone around one around yyouou is what is what

distindistingguishesuishes a superior a superior leader.”leader.” —Edie Seashore (—Edie Seashore (Strategy + Strategy +

BusinessBusiness #45) #45)

““How can a high-level How can a high-level leader like _____ be so out of leader like _____ be so out of touch with the truth about touch with the truth about himself? It’s more common himself? It’s more common

than you would imagine. than you would imagine. In fact, the higher up the ladder a leader

climbs, the less accurate his self-

assessment is likely to be. The problem is an The problem is an

acute lack of feedback acute lack of feedback [especially on people [especially on people

issues].”issues].”

—Daniel Goleman (et al.), —Daniel Goleman (et al.), The New LeadersThe New Leaders

"Everyone thinks "Everyone thinks of changing the of changing the

world, but no one world, but no one thinks of thinks of

changing himself" changing himself" - Leo Tolstoy- Leo Tolstoy

Listen to your Listen to your grandmother! grandmother!

““Courtesies of a small Courtesies of a small and trivial character are and trivial character are

the ones which strike the ones which strike deepest in the grateful deepest in the grateful

and appreciating heart.”and appreciating heart.”

—Henry Clay,American Statesman (1777-1852)

K = R = K = R = PP

Kindness = Repeat business = Profit.Kindness = Repeat business = Profit.

Kindness = Kindness = Repeat Business Repeat Business

== Profit.Profit.

““I regard I regard aappoloologgizinizing as the g as the most magical, healing, most magical, healing,

restorative gesture human restorative gesture human beings can make. It is the beings can make. It is the

centercenterppieceiece of my work with of my work with executives who want to get executives who want to get better.”better.” —Marshall Goldsmith—Marshall Goldsmith, What Got You , What Got You

Here Won’t Get You There: How Successful People BecomeHere Won’t Get You There: How Successful People Become Even More Successful. Even More Successful.

With a new and forthcoming policy on apologies …With a new and forthcoming policy on apologies … Toro, Toro, the lawn mower folks, reduced the the lawn mower folks, reduced the average cost of settling a claim from average cost of settling a claim from $$115,000115,000 in 1991 to $ in 1991 to $35,00035,000 in 2008— in 2008—and the company hasn’t been to trial and the company hasn’t been to trial in the last in the last 1515 y yearsears! ! The VA hospital in Lexington, Massachusetts, developed an The VA hospital in Lexington, Massachusetts, developed an approach, totally uncharacteristic in healthcare, to approach, totally uncharacteristic in healthcare, to apologizing for errors—even when no patient request or apologizing for errors—even when no patient request or

claim was madeclaim was made.. In 2000, the systemic mean In 2000, the systemic mean VA hospital malpractice settlement VA hospital malpractice settlement throughout the United States was throughout the United States was $$413,000413,000; the Lexington VA hospital ; the Lexington VA hospital settlement number was $settlement number was $36,00036,000 ——and and there were far fewer per patient claims to begin with.)there were far fewer per patient claims to begin with.)

Source: John Kador, Source: John Kador, Effective ApologyEffective Apology

Cross-border Cross-border ConversationsConversations

Never Never waste a waste a lunch!lunch!**

*The sacred 220 Abs.*The sacred 220 Abs.

““I am I am hundreds of times hundreds of times better herebetter here [than in my prior hospital [than in my prior hospital

assignment]assignment] because of the support because of the support system. system. It’s like It’s like yyou were ou were workinworkingg in an or in an orgganism;anism; yyou are not a sinou are not a singgle cell le cell when when yyou are out there ou are out there ppracticinracticingg.’”.’” —quote from Dr. Nina —quote from Dr. Nina

Schwenk, in Chapter 3, “Practicing Team Medicine,” Schwenk, in Chapter 3, “Practicing Team Medicine,” from Leonard Berry & Kent Seltman, from from Leonard Berry & Kent Seltman, from

Management Lessons From Mayo ClinicManagement Lessons From Mayo Clinic

Observed closely: Observed closely:

The use of The use of “I”“I” or or

“we”“we” during a during a job interview.job interview.

Source: Leonard Berry & Kent Seltman, chapter 6, “Hiring for Values,” Source: Leonard Berry & Kent Seltman, chapter 6, “Hiring for Values,” Management Lessons From Mayo ClinicManagement Lessons From Mayo Clinic

““Allied commands depend on Allied commands depend on mutual confidence mutual confidence

and this confidence is and this confidence is gained, above all gained, above all

through thethrough the

develodeveloppmentment ofof friendshifriendshippss.”.”

——General D.D. Eisenhower, General D.D. Eisenhower, Armchair GeneralArmchair General* *

*“Perhaps his most outstanding ability [at West Point]*“Perhaps his most outstanding ability [at West Point]

was the ease with which was the ease with which he made friends and earned he made friends and earned the trust of fellow cadets who came from the trust of fellow cadets who came from

widelwidelyy varied back varied backggroundsrounds; it was a quality that would pay ; it was a quality that would pay great dividends during his future coalition command.”great dividends during his future coalition command.”

Loser:Loser: “He’s such a“He’s such a suck-up!” suck-up!”

Winner:Winner: “He’s such a“He’s such a suck-down.” suck-down.”

Which Which customers customers

first?first?

““You have to You have to treat your treat your

employees like employees like customers.”customers.” —Herb —Herb

Kelleher, upon being asked his “secret to success”Kelleher, upon being asked his “secret to success”

Source: Joe Nocera, Source: Joe Nocera, NYTNYT, “Parting Words of an Airline Pioneer,” , “Parting Words of an Airline Pioneer,” on the occasion of Herb Kelleher’s retirement after 37 years at on the occasion of Herb Kelleher’s retirement after 37 years at

Southwest Airlines Southwest Airlines (SWA’s pilots union took out a full-page ad in USA (SWA’s pilots union took out a full-page ad in USA Today Today

thanking HK for all he had done) thanking HK for all he had done) ; across the way in Dallas, American ; across the way in Dallas, American Airlines’ pilots were Airlines’ pilots were picketingpicketing AA’s Annual Meeting)AA’s Annual Meeting)

… … no less than no less than CathedralsCathedrals

in which the full and in which the full and awesome power of the awesome power of the

Imagination and Spirit and Imagination and Spirit and native Entrepreneurial flairnative Entrepreneurial flair

of diverse individualsof diverse individuals is is unleashed in passionate unleashed in passionate pursuit of … pursuit of … ExcellenceExcellence..

The Memories The Memories That That MatterMatter..

The Memories That MatterThe Memories That Matter

The people you developed who went on toThe people you developed who went on to stellar accomplishments inside or outsidestellar accomplishments inside or outside the company.the company. The (no more than) two or three people you developed who went on The (no more than) two or three people you developed who went on toto create create stellar institutions of their own.stellar institutions of their own.The long shots (people with “a certain something”) you bet on whoThe long shots (people with “a certain something”) you bet on who surprised themselves—surprised themselves—andand your peers. your peers.

The people of all stripes who 2/5/10/20 yearsThe people of all stripes who 2/5/10/20 years later say later say “You made a difference in my “You made a difference in my life,”life,” “ “Your belief in me changed everything.”Your belief in me changed everything.”The sort of/character of people you hired in general. (The sort of/character of people you hired in general. (And And the bad the bad apples you chucked out despite some stellar traits.)apples you chucked out despite some stellar traits.)A handful of projects (a half dozen at most) you doggedly pursued A handful of projects (a half dozen at most) you doggedly pursued thatthat still make you smile and which fundamentally changed the waystill make you smile and which fundamentally changed the way things are done inside or outside the company/industry.things are done inside or outside the company/industry. The supercharged camaraderie of a handful of Great Teams aiming The supercharged camaraderie of a handful of Great Teams aiming toto “ “change the world.”change the world.”

““The The ONEONE Question”: Question”: “In the last year [3 years, current job], “In the last year [3 years, current job],

name the … name the … threethree ppeoeopplele … whose growth you’ve … whose growth you’ve

most contributed to. Please explain where they were at the most contributed to. Please explain where they were at the beginning of the year, where they are today, and where they are beginning of the year, where they are today, and where they are heading in the next 12 months. heading in the next 12 months. Please explain … in painstakingPlease explain … in painstaking

detail … your development strategy in each case. detail … your development strategy in each case. Please tell me Please tell me your biggest development disappointment—looking back, could you your biggest development disappointment—looking back, could you or would you have done anything differently? Please tell me about or would you have done anything differently? Please tell me about your greatest development triumph—and disaster—in the last five your greatest development triumph—and disaster—in the last five

years. What are the ‘three big things’ you’ve learned about helping years. What are the ‘three big things’ you’ve learned about helping

people grow along the way?”people grow along the way?”

Les WexnerLes Wexner:: From From sweaters to sweaters to

people!people!

AndrewAndrew CarneCarneggieie’s Tombstone Inscription …’s Tombstone Inscription …

Here lies a manHere lies a manWho knew how to enlistWho knew how to enlist

In his serviceIn his serviceBetter men than himself.Better men than himself.

Source: Peter Drucker, Source: Peter Drucker, The Practice of ManagementThe Practice of Management

You are What You are What You EatYou Eat

““You will become You will become like the five people like the five people you associate with you associate with the most—this can the most—this can

be either a blessing be either a blessing or a curse.”or a curse.” —Billy Cox—Billy Cox

The “We are what we eat”/ The “We are what we eat”/ “We are who we hang out with”“We are who we hang out with”

Axiom: Axiom: At its core, At its core, evereveryy (!!!) (!!!) relationship-partnership decision relationship-partnership decision (employee, vendor, customer, etc, (employee, vendor, customer, etc, etc) is a etc) is a stratestrateggicic decision about: decision about:

“Innovate,“Innovate, ‘ ‘YesYes’ ’ oror ‘No’ ” ”

““Who’s the most Who’s the most interesting person interesting person

you’ve met in the last you’ve met in the last 90 days? How do I90 days? How do I

get in touch with her get in touch with her

or him?”or him?” —Fred Smith—Fred Smith

““Diverse groups of problem solvers—groupsDiverse groups of problem solvers—groups of people with diverse tools—consistently of people with diverse tools—consistently outperformed groups of the best and the outperformed groups of the best and the

brightest. If I formed two groups, one brightest. If I formed two groups, one randomrandom (and therefore diverse) and one (and therefore diverse) and one

consisting of the consisting of the bestbest individual performers, individual performers, the first group almost always did better. …the first group almost always did better. …

DiversityDiversity trumped trumped abilityability.”.” —Scott Page, —Scott Page, The Difference: The Difference:

How the Power of Diversity Creates Better Groups,How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies Firms, Schools, and Societies

“The The Bottleneck Bottleneck

……

“The Bottleneck The Bottleneck … Is at … Is at

the Top of the the Top of the Bottle”Bottle”

“Where are you likely to find people “Where are you likely to find people with the with the least diversitleast diversityy of ex of expperienceerience, ,

the the larlarggest investment in the est investment in the ppastast,, and the g and the greatest reverence for reatest reverence for

industrindustryy do doggmama … …

AtAt thethe totop!”p!”

— Gary Hamel/— Gary Hamel/Harvard Business ReviewHarvard Business Review

Obvious as the Obvious as the end of your end of your

nosenose

““Headline 2020:Headline 2020: Women Women

Hold Hold 8080 Percent Percent

of Management and of Management and Professional Jobs”Professional Jobs”

Source: Source: The Extreme Future: The Top Trends That Will The Extreme Future: The Top Trends That Will Reshape the World in the Next 20 YearsReshape the World in the Next 20 Years, James Canton, James Canton

“ “Power Women 100”Power Women 100” 26 female CEOs of Public Companies 26 female CEOs of Public Companies

Vs. Men/Market: Vs. Men/Market: +28%+28%**VVs. Industry: s. Industry: +15%+15%***Post-appointment*Post-appointment

Source: Forbes 10,10Source: Forbes 10,10

““AS AS LEADERS, LEADERS, WOMEN WOMEN

RULERULE:: New Studies find New Studies find

that female managers outshine their male that female managers outshine their male counterparts in almost every measure”counterparts in almost every measure”

TITLE/ Special Report/ TITLE/ Special Report/ BusinessWeekBusinessWeek

Women’s NeWomen’s Neggotiatinotiatingg Stren Strenggthsths

*Ability to put themselves in their *Ability to put themselves in their counterparties’ shoes counterparties’ shoes*Comprehensive, attentive and detailed*Comprehensive, attentive and detailed communication style communication style*Empathy that facilitates trust-building*Empathy that facilitates trust-building*Curious and attentive listening*Curious and attentive listening*Less competitive attitude*Less competitive attitude*Strong sense of fairness and ability to *Strong sense of fairness and ability to persuadepersuade*Proactive risk manager*Proactive risk manager*Collaborative decision-making*Collaborative decision-making

Source: Horacio Falcao, Cover story/May 2006, Source: Horacio Falcao, Cover story/May 2006, World BusinessWorld Business, “Say It , “Say It Like a Woman: Why the 21Like a Woman: Why the 21stst-century negotiator will need the female -century negotiator will need the female touch”touch”

““Forget Forget ChinaChina, , IndiaIndia and the and the InternetInternet: :

Economic Growth Is Economic Growth Is Driven by Driven by

WomenWomen.”.”

Source: Headline, Economist

““Men Are Men Are Finished”Finished”

Source: Title, Slate conference, 0920/NYUSource: Title, Slate conference, 0920/NYU

GREAT GREAT Professional Professional Service FirmsService Firms

GREAT Professional Service FirmsGREAT Professional Service Firms

1. Stunning commitment to integrity.1. Stunning commitment to integrity.2. Counselors first. (“We are not in a commodity2. Counselors first. (“We are not in a commodity business.” business.” Damn it. Damn it. Damn it.)Damn it. Damn it. Damn it.)3. Stellar listeners—to our Clients. 3. Stellar listeners—to our Clients. 4. Stellar listeners—to our fellow partners. 4. Stellar listeners—to our fellow partners. 5. Stellar listeners—to our most junior associates. (!!!!!)5. Stellar listeners—to our most junior associates. (!!!!!)6. Stellar listeners—to every member of staff. 6. Stellar listeners—to every member of staff. 7. Insatiable curiosity marks 100% of partners.7. Insatiable curiosity marks 100% of partners.8. We live to serve/8. We live to serve/ExtremeExtreme service ethic. service ethic.9. Our leaders are servant leaders. (Every partner is a9. Our leaders are servant leaders. (Every partner is a leader first.) leader first.)10. Deeply ingrained sense of fairness.10. Deeply ingrained sense of fairness.11. Hustlers—but thoughtful to a fault! (Excise rude11. Hustlers—but thoughtful to a fault! (Excise rude bastards.) bastards.)12. “Service ethic” means service to one another as 12. “Service ethic” means service to one another as muchmuch as service to clients. as service to clients.13. Drop everything to assist a colleague in need—13. Drop everything to assist a colleague in need—centralcentral to our overall ethos. to our overall ethos.14. Toss “lousy colleagues” out on their derrieres. 14. Toss “lousy colleagues” out on their derrieres.

GREAT Professional Service FirmsGREAT Professional Service Firms

15. Intellectual/Process point of view that is15. Intellectual/Process point of view that is Distinct/Exciting. Distinct/Exciting.16. Every partner must have a point of view of note.16. Every partner must have a point of view of note.17. The definition of the 17. The definition of the very bestvery best partners is that they partners is that they are “insanely great” (thanks, Steve) mentors! are “insanely great” (thanks, Steve) mentors!18. Equal compensation/recognition to top 18. Equal compensation/recognition to top “rainmakers,”“rainmakers,” “intellectuals,” magical mentors. “intellectuals,” magical mentors. 19. Invest heavily in ideas.19. Invest heavily in ideas.20. Technology pioneers. (Yes, “pioneer.”)20. Technology pioneers. (Yes, “pioneer.”)21. A decent share of oddballs; not “rainmakers” but21. A decent share of oddballs; not “rainmakers” but disturbers-of-the-peace. (Often irritating people.) disturbers-of-the-peace. (Often irritating people.)22. Relatively high turnover and high “d”/Diversity in 22. Relatively high turnover and high “d”/Diversity in toptop leadership committees. leadership committees.23. Quality >> Quantity. (Big is fine as a byproduct of23. Quality >> Quantity. (Big is fine as a byproduct of Great Work. “Big for big’s sake” is unfine.) Great Work. “Big for big’s sake” is unfine.)24. Significant portfolio of interesting clients. (I.e. 24. Significant portfolio of interesting clients. (I.e. clientsclients that lead us-drag us into new pastures.) that lead us-drag us into new pastures.)25. Willingness to dump bad-demotivating-enervating25. Willingness to dump bad-demotivating-enervating clients (even big ones). clients (even big ones).

GREAT Professional Service FirmsGREAT Professional Service Firms

26. Understand that we are running a for-profit enterprise.26. Understand that we are running a for-profit enterprise. Cash flow matters! (A lot.) Cash flow matters! (A lot.)27. In love with our work! (Expunge those who are not in27. In love with our work! (Expunge those who are not in love with their work—dump the burnouts.) love with their work—dump the burnouts.)28. Sense of fun. (Yes, damn it.)28. Sense of fun. (Yes, damn it.)30. Professional to a fault but not pompous.30. Professional to a fault but not pompous.31. Notable-visible respect for the ideas of young31. Notable-visible respect for the ideas of young associates.(!!!!!!) associates.(!!!!!!)32. “d”iversity. (And 32. “d”iversity. (And DDiversity.)iversity.)33. Practice-as-teamwork. (Teammate-ism rewarded, lack33. Practice-as-teamwork. (Teammate-ism rewarded, lack thereof punished with extreme prejudice.) thereof punished with extreme prejudice.)34. Deep bench. “Supporting cast,” notably starting with34. Deep bench. “Supporting cast,” notably starting with receptionists, must be of same quality as partners— receptionists, must be of same quality as partners— there are no “bit players” in our business. there are no “bit players” in our business.35. Age gracefully gives way to youth—regeneration a35. Age gracefully gives way to youth—regeneration a deep-seated guiding belief. deep-seated guiding belief.36. Hard work expected and cherished—workaholism for36. Hard work expected and cherished—workaholism for workaholism’s sake assiduously guarded against. workaholism’s sake assiduously guarded against.37. Proud of our culture, guard our culture zealously—but37. Proud of our culture, guard our culture zealously—but even “great cultures” age. (And get horribly even “great cultures” age. (And get horribly elaborated.)elaborated.)

GREAT Professional Service FirmsGREAT Professional Service Firms

38. Rigorous exit interviews.38. Rigorous exit interviews.39. Rigorous evaluations of client satisfaction by more or39. Rigorous evaluations of client satisfaction by more or less disinterested parties. less disinterested parties.40. Sky-high time investment in our evaluation process.40. Sky-high time investment in our evaluation process.41. My legacy (as a partner) is:41. My legacy (as a partner) is:

Being “of service.” Being “of service.” Developing people. Developing people. Being a good colleague—which absorbed lots of my Being a good colleague—which absorbed lots of my time. time. Doing consistently superior (sky high) quality work. Doing consistently superior (sky high) quality work. Adding materially to the ideas base of the Firm. Adding materially to the ideas base of the Firm. Insuring the continuity of the firm—culturally and Insuring the continuity of the firm—culturally and financially. financially. Being a paragon of integrity and decency. Being a paragon of integrity and decency. Leaving gracefully. Leaving gracefully.

42. “Execution 42. “Execution isis strategy.” (Thanks, Fred.) strategy.” (Thanks, Fred.)43. My word is my bond.43. My word is my bond.44. Excellence. PERIOD.44. Excellence. PERIOD.

Excellence.Excellence. Always. Always.

If notIf not Excellence,Excellence, what?what?

If notIf not ExcellenceExcellence now, when?now, when?