In this issue, we’re digging into tips to reclaim the value of your time, your firm, and your future. I’ve heard from so many firm leaders lately who are feeling buried…with competing priorities, rapid firm growth, and so much volatility in the broader business landscape. This can quickly devolve into a frenzy of reactive and urgent actions that address near-term challenges or questions but fail to achieve long-term sustainable success.
It is easier to discount the fee than articulate the value.
When a client pushes back on price, the easiest response is to reduce the fee. Don’t do it. The harder response is to explain why your firm's expertise, process, risk management, and outcomes are worth the investment. Discounting takes 30 seconds. Communicating value takes years of discipline. The real issue isn't pricing; it's confidence.
Fire lousy clients before they fire your culture.
A single demanding client can consume disproportionate leadership attention and demoralize top performers. Instead of asking, "Can we afford to lose this client?", ask, "How much is this client costing our best people?"
Make growth harder.
As we enter strategic planning season, I’m reminded of so many strategic planning retreats that end up with a list as long as your arm of new ideas but no discussion of what to stop doing. Every opportunity should have to earn its way into the firm. Create a "kill committee" whose job is to explain why you shouldn't pursue new offices, services, hires, or acquisitions. Poor ideas are easy to create in the moment, but they rarely survive rigorous cross-examination.
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Assume every one-hour executive meeting costs $2,500.
Calculate the fully burdened cost of everyone in the room. Then ask yourself, "Would we spend $2,500 to have this meeting?" In today’s age of virtual meetings that are so easy to create, cutting or scaling back bloated meetings is an easy way to reclaim valuable time in your day.
Block calendar time for deep work.
This is one of the simplest habits that separates AEC firm leaders who run the business from those who are merely reacting to the business. Most AEC executives have calendars that are almost entirely controlled by other people. When others see a time slot with no meeting, they assume that time is up for grabs. Every hour is filled with project meetings, client calls, recruiting interviews, etc. Thinking is work and deserves dedicated time on your calendar. If you don’t protect that time, it will get snatched from you!
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