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Inheriting a book from another partner is not enough. It obviously helps with revenue and therefore business case, but you need to be a partner, not just take a book from a partner.
75%
For me, I had to create my own book. I also built something that hadn’t existed at Deloitte.
Another partners book is very useful if you’re in a recurring revenue business. Not sure what percentage of the Advisory Partners on this app have that luxury.
Otherwise it’s about fresh kills.
Relying on another partner’s book is a crapshoot. If there are other guys short on their goals that particular year, they will be first to get that work instead of you. If you aren’t up at exactly the right time, you are also SOL.
I had to build my own book, for the most part, since the partners I was working with were not much older than I am. I used what I had learned and put my own spin on it, to the point where I could partner with some of my former partners on joint pursuits.
What are you all’s thoughts on selecting a new sub-sector that the firm hasn’t tapped into vs building a new capability e.g., firm historically focused on cost optimization and you focus on revenue growth? (I acknowledge overall firm direction can dictate this a bit)
One is much harder than the other