At over $5 Million in annual revenue, you have a lot more choices than you’ve ever had before. You can now determine for yourself what role you’ll play in the firm. But this decision has farther reaching impact than just you and your day.
This is exciting because there was a time when you were probably wearing ALL of the hats. Then there was probably a time when you were hiring people one at a time to wear those hats so you wouldn’t have to fill so many roles in the firm. Yet, you were probably still micromanaging those folks so they would do the job just the way you would do it.
Now it’s time for some grown-up moves that involve you hiring people who are smarter and better than you at specific talents that they’ll bring to the firm. No matter what you choose to do now, you will have to hire to continue your growth.
It’s time now for a fulltime CEO … an in-house, dedicated strategist whose entire purpose is to execute your firm’s business plan. Should that be you? Or should that be someone else? You probably already have an idea of how you’d like to handle this decision. However, you should know that transferring trust either to a CEO or to a new Lead Counsel will require specific actions and communications over the next 12 to 18 months.