Sens record icy due to lack of leadership

The present state of the Ottawa Senators provides a good opportunity to compare leadership and management. Like many other Ottawa  residents, I am a keen observer of our professional hockey team. I have no inside knowledge of the workings of the team or the current relationship amongst management and leadership. However, I do note that it is a common theme, amongst commentators, that there appears to be a lack of leadership.  I suspect they are referring to “on ice” leadership, however, I think they need to look a little further up the chain of command.

The team is at a point in time where leadership may be more critical than management.  What is the leadership group’s plan to get this franchise back to a state of long term health and success (assuming success is judged by the performance on the ice)?  Who is the leadership group that is responsible for this task?

I am certain this is all being addressed right now at the highest levels and should result in a plan for the next three to five years. Now is the time for leadership to set a road map for success and let the stake holders know what the route is. Trusted leadership is necessary to instil confidence in the organization and its management team.

From a management perspective, I think the assets of this team have been mismanaged over the last few years resulting in the current lack of talent. To a certain extent this is a natural process and you cannot plan to always be at the top of the standings though there are teams who seem to be capable of sustaining a high level of competitiveness year in and year out).

The management team needs to be supplied with the road map and assume the responsibility to fulfill the goals of leadership.  As the plan produces positive results leadership may take a back seat to management once again. At that time the role of management may become more critical.

-  Micheal Burch, CA, CFP
Managing Partner
Welch LLP

How Much “Leader” Do We Really Need?

I wonder if we are misjudging the importance of leadership in the performance of everyday tasks.

“Leadership” seems to be all the rage these days  - everyone is talking about “building future leaders.” Who the heck are all these future leaders going to lead? I am, rightly or wrongly, coming to the conclusion that this leadership thing is currently over hyped .

There is no question in my mind that people want to be a part of something that is greater

than what they can create on their own. With this in mind it may be important for one person to emerge as a decision maker/take charge individual who can motivate the entire group and provide a sense of direction. However, in the grand scheme of our everyday work lives this motivating factor is not generally required. In fact if it is, we may need to reconsider the quality of the work force we are employing.

Having said that, management, on the other hand, is the skill required to control the process and ensure we are all pulling in the right direction. Management provides the frame work in which our individual tasks combine to create the expected results. Management provides the data necessary to evaluate the processes and keep us on course. Management is the ongoing monitoring and tinkering that is required at all times.

As noted in my previous comment there will be times when leadership is required in an organization/group. This leadership can be provided by one or more people at different levels in the enterprise. At certain critical times this leadership absolutely must come from someone with both the authority and the skills to make a difference and motivate the entire organization.  When this happens, hopefully, this individual will be at the top of the chain of command.

– Micheal Burch, CA, CFP
Manager Parter
Welch LLP

Dressing to impress

A lot of people moan and groan about having to wear dress pants and a decent shirt to work.

“I am just as smart in a tee shirt and ripped jeans as I am in a dress shirt and pressed pants,” we tell ourselves.

But as professionals, it is important to dress the part. Accountants do a lot of things people in other fields don’t have to do, like taking complicated exams, spending hours in professional development courses, and learning the ins and outs of every dollar our clients spend and receive. These are all elements of our professionalism, just like shrugging on a suit jacket in the morning. Working at Welch doesn’t mean strangling yourself in a tie or polishing your cuff links every morning, but it does mean being professional.

Partner and HST Specialist Garth Steele sounds off on why this is so important:

http://bit.ly/cuqwyN

Marketing for Professional Services – it’s important!

Many professional services firms overlook the importance of investing in marketing. Instead of looking at time spent of marketing as investment, they label it as non-billable hours and shudder to think that time could have been spent generating revenue.

But marketing activities are crucial to generating revenue. Even when these activities don’t directly translate into new clients or increased billings for an existing clients, it is impossible to measure the extent to which increased exposure in your community boosts revenues.

Welch LLP recently hosted an open house for all the tenants in our building. Our Hallowe’en-themed event was planned in hopes of meeting our neighbours and generating some good will in our building. It remains to be seen whether or not the event brought in any new clients, but it definitely generated positive conversation in the building.

Here are some photos of the room from before the guests arrived:

It’s easy to spot a strong brand, but it’s much harder to see what makes that brand stand out. Making sure your customers know about your values and vision and that they can connect emotionally with your brand are good places to start, but building a brand is a much more complex procedure than that.

Creating and maintaining a brand is a continuous and multi-faceted process. You can never stop planning, strategizing, executing and revising. Even once you’ve built a brand, it needs constant upkeep through marketing, PR, and other communications-based activities.

Cultivating a brand is something large firms leave to the marketing department, but in an owner-managed business, you often are your own marketing department. The problem lies in the fact you may also be the finance, HR, and IT departments, and you simply don’t have the time it takes to build a successful brand.

One way for SMEs to grow a brand is to use consulting firms who can offer you expert advice without the overhead costs of having your own department. A consulting firm like WelchGroup Consulting can help you with everything from repositioning your company to capitalizing on the potential of the Internet.

A powerful brand can be a huge asset your company that will help you in creating value, building trust, and securing customer loyalty. Make the investment in your brand – it will pay dividends down the road.

- WelchGroup Consulting

Leadership vs Management – it’s all about direction

I have been following a string of discussions on a Leadership Group on Linked In (“Leadership Think Tank”). Much to my benefit someone has posed the question “What is the difference between Management and Leadership?” What I have been able to glean from this forum is:  If people are not following you, then you are managing. If people are successfully completing their day to day tasks and simply look to you to assist in the performance of these tasks, then you are managing. If, on the other hand, people are looking to you to provide motivation and direction, then you are probably leading.

When people need to get somewhere specifically or figuratively and they are uncertain of the path they will look to a leader. The leader will be the one they most believe will get them to where they need to go.

You can successfully manage without leading, especially in good times. However, the time may arise when, as a group, a new direction is required. It often takes a leader to step up in this situation and lead the way.

I will continue to follow this discussion. I also welcome your thoughts.

- Micheal Burch, CA, CFP
Managing Partner, Welch LLP

Successful Goals focus on Rewards for Everyone

It seems everyday, I am reminded of the importance of goal setting.  I recently met with my team’s management group to discuss our staff’s evaluations, and review the goals they set earlier in the year. On an individual level, I spent last week developing my own business and personal goals for a leadership course.

Formulating specific goals can be difficult as you need to ensure they are meaningful, measurable and realistic.  As I went through the process, I found it quite easy to come up with my personal goals, such as going to the gym three times a week, and  reading a novel each month. Every item on my list of personal

goals was one in which I controlled the outcome – everything was something that I have to do and if I do not, I do not accomplish my goals.

For some reason, my business goals were a little harder.  The difficulty did not lie in identifying areas of improvement, it related to how I would accomplish these goals.  Thinking more about it, I realized that in order for me to be successful with my business goals, “I” should really be “we” as I need to rely on others to achieve these goals.

Most businesses have the goal of increasing sales and improving the “bottom line” but have no idea how. Where the challenge truly lies is developing that action plan and following through, and these two steps are really the key to success.  I realize to be successful in business I need to engage my staff because they are the ones in the trenches: completing the files, working at the client sites, working with each other, etc.   I need them to point out areas of inefficiency and areas of opportunity to get me to my goal, which in turn I hope will be our goal.

- Ryan Dostie, CA, CFP
Welch LLP

The Dual Role of the Managing Partner

Michael Burch is the Managing Partner at Welch LLP. This is the first in a series of blogs exploring the role of management and his experiences managing the firm.

I quickly discovered there are two distinct sides to the role of managing partner. The first, and what I believe to be the easier side, is the pure management of the practice. This side of the job includes setting the goals for the entity, monitoring the results of operation, keeping the business on the rails and effectively managing the day to day activities within the organization. My training as a Chartered Accountant along with report generating tool, help me to effectively fulfill this responsibility.

The other side of the equation, the “leadership side,” is far more difficult to fulfill. There is so much information being produced about effective leadership that you can read about it until you are blue in the face. Unfortunately, in my opinion, all this reading does not make you a leader.

I struggle with this side of the position every day – what does it mean to be a good leader, how important is it to the success of the enterprise, can I delegate this responsibility, what do the people I work with expect from me in this area, am I delivering?

I would like to explore the two sides of this role, especially the leadership side, in the future by drawing on my own experiences and those of my colleagues.

- Micheal Burch, CA, CFP
Managing Partner, Welch LLP