It’s a key relationship in a practice, crucial to success and when wrong it adversely impacts everything. It’s also complex.
Partners own the business but a PM is managing and probably leading it. Usually a PM has greater business and management skills and is more aware of what’s going on. A PM is also the Partners’ Employee.
In a bad relationship a PM is under used, limited in role and effectiveness. They may even be obstructed, and will be frustrated and demotivated.
Partners may be working harder, doing things they don’t need to. They may also be frustrated and dissatisfied with a perceived ineffectiveness of the PM.
Often this is because what’s needed isn’t happening.
A PM must manage the business limiting the need for partners to, and provide the leadership and strategic view. They must be discreet, neutral and support the partners. They need to inspire confidence by proactively reporting, advising and informing how the business is doing.
Partners need to empower the PM, and give them autonomy. They should support and work with the PM, but not interfere or undermine.
From both sides Trust and openness is essential.
Whichever side of the relationship, you can have a positive impact on it.
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