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The Boomer Bulletin - 2010
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Tips On Conducting A Successful Firm Summit

Posted By Sandra Wiley, Sunday, August 08, 2010
Sandra Wiley

Why a “Firm Summit” and not a “retreat”? “Retreat” implies that you are looking to the past and moving backwards.  “Firm Summit,” on the other hand, implies a more ambitious approach—one that incorporates a broader participation base that will distinguish your firm from its competition.  The purpose of a Firm Summit is to bring leaders and firm members together along with outside expertise and facilitation in order to initiate strategies for exponential growth.

Most firms spend too little time working on the firm and too much time working in the firm, especially where governance is less defined.  In those firms everyone believes he or she is in charge but is too busy to lead—so little growth happens.  Too often firms put the same people in a room year after year, hold a retreat and call it good.  But you can’t expect exciting and revolutionary results using this formula.

Break out of the CPA mold

Now is the time to change your format, make these meetings fun and create some excitement.  If you don’t know how, ask your spouse!   The following suggestions will improve your Firm Summit’s results as well as make it a much more enjoyable experience.

Select a relaxing venue away from the office

Get people out of their daily routine. Meetings at the office just don’t work.  There are too many interruptions, and participants have trouble focusing on strategicthoughts. Choose an out of town location—preferably a resort—so there are leisure activities available.  One firm recently conducted its Firm Summit on an overnight sailing trip.  If you’re afraid to sail, try a ski lodge or even a sports arena.

Encourage everyone to participate during parts of the Firm Summit

Be inclusive rather than exclusive—fresh ideas and “new blood” should be welcomed.  Management’s participation is also a must. While transportation and lodging expenses are always a consideration, off-season rates at many venues make them easily affordable.

Utilize a professional facilitator as your leader

Use an experienced facilitator to keep participants focused and on the agenda. It is difficult, if not impossible, to facilitate your own Firm Summit.  You might be surprised at how focused participants become when an outsider is involved. Using a professional facilitator also ensures the Firm Summit will happen as scheduled. (We've helped facilitate these kind of sessions for hundreds of firms.)

Start your Firm Summit with a positive focus exercise

Take time to celebrate and be grateful for your successes. This exercise requires mere minutes but is often overlooked.  Take a little time to reflect on the most positive events during the past year, why they were important and if any follow-up is needed. Better decisions result when participants feel confident and positive.

Work from an agenda and stay on time

Don’t surprise participants. Solicit agenda items in advance and distribute an agenda with meeting materials. Do your homework prior to the meeting. Keep each item strategic and stay on time.

Avoid the numbers, stick to the concepts

Force participants to think in terms of the big picture. The tendency is to focus on tactical rather than strategic issues.  Tell participants up front to avoid restraints such as budget and time. It pays to dream. You will find the time and budget for great ideas and strategies. The chances of identifying great ideas and strategies are diminished greatly if you start with the premise, “We can’t afford that.” Think in terms of who can “pull this off” or “whom do we know that can help us?”

Keep minutes of the Firm Summit and share with the entire firm

Document the “who” and “what.” Accountability is essential, and minutes help you avoid conflicts later on while keeping participants focused.  They also can become very valuable as a resource in years to come.

Think strategic rather than tactically

Utilize your agenda to avoid tactical discussions. Also highlight the benefits of strategic thinking when you announce the Firm Summit date as well as the beginning of your session. An experienced external facilitator is especially helpful in maintaining focus on the “big picture.”

Take breaks of 10-15 minutes every hour

People need time to move around and interact. Strategic thinking is hard work.  Most people and organizations avoid it simply for that reason. A good rule is to work for 45 minutes and break for 15.

Mix the sessions in with activities such as golf, tennis, or boating

Plan for social activities and make a special effort to include those who are more introverted.  Team activities such as a scramble in golf are fun and allow those with less skill to participate and still enjoy the event.  Every firm outing needs a driver for the “beer cart.”

Invite outsiders such as experts or even clients

Outsiders bring a fresh perspective and generally command respect. Don’t expect them to provide answers to all of your problems. You should expect them to have opinions and ask penetrating questions.

Name task forces for follow-up with a responsible person and due date

Each person must be held accountable for his or her part. Allow those responsible an opportunity to agree upon due dates, which will ensure the chance of each project being completed on time.  This is all part of leveraging your firm’s resources.

Conclude the Firm Summit with a brief statement from all participants

Take a few minutes at the end of the Firm Summit to allow all participants an opportunity to voice their perspectives. What did they find to be the most valuable aspects of the meeting, and what changes would they like to see in the future?

Create a One-Page Laminated Game Plan

A one-page laminated game plan is critical to success. It allows you to easily communicate vision to members inside the firm as well as to stakeholders outside the firm. Include your firm’s vision, mission, core values and strategic initiatives on one side.  On the other side, list strategic initiatives with one or more measurement methods, key steps, due dates and responsibilities. No one throws away a laminated document. Review it frequently and hold people accountable, because many firms have great ideas—but few execute.

Firm Summits can be fun and productive!  Thoughtful planning, facilitation and location contribute to their value.  Delegate the planning if it’s not your unique ability.  Every firm has or should have a social chairperson.  Give that person a reasonable budget.  Don’t wait—schedule your Firm Summit today!

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