Boards and management committees are not the same as a dedicated growth committee.
Most professional service firms have frequent management meetings, operational reviews and partner discussions – perhaps too many? Yet, surprisingly, few have configured a dedicated forum whose sole purpose is to drive GROWTH.
If you have, you’re well ahead of the game.
This matters because growth rarely happens by accident. The subject is intriguing, refreshing and exhilarating. It holds the levers that drive profitability, without the many day-to-day distractions that routinely divert our attention.
In so many firms, growth is considered everyone’s responsibility and, in many respects, it is. The challenge is that when everyone owns it, nobody drives it. Our partners focus on rainmaking and client delivery, our department heads focus on utilisation and operational performance, and our marketing teams focus on campaigns and events. The result is often a collection of disconnected initiatives instead of a well-choreographed growth strategy.
One practical solution is to create a growth Committee that can provide you with a runway to greater success.
A growth committee is a cross-functional leadership group with a simple remit: identify, prioritise and accelerate opportunities for sustainable growth. Unlike a management committee, which is typically occupied with operational issues, a growth committee focuses on the future, and the future alone — new prospective clients, stronger and deepening client relationships, new specialisms/service innovation, AI automation, distinctive market positioning, the quest for local/ regional/ national/ global domination, and executing plans to meet strategic opportunities. An agile forum that has the authority and vision to cut through red tape and take rapid action in order to seize the high ground. The benefits can be significant, though they are not for the faint-hearted. They demand real ambition, a sense of purpose, and dedication, and not every firm has these qualities. How do they work?
First, they create accountability. Growth moves from being an aspiration to a standing agenda item with clear ownership and measurable outcomes.
Second, they break down silos. Bringing together leaders from different practice areas or business units encourages collaboration and helps uncover opportunities that would otherwise remain hidden or parked for another day.
Third, they drive better rainmaking and client development. Many firms possess untapped opportunities within existing client relationships. A growth committee provides a structured way to identify cross-selling opportunities, share intelligence and coordinate client growth plans.
Fourth, they accelerate decision-making. Growth initiatives often stall because no single forum exists to evaluate and authorise action. A dedicated committee can remove barriers, allocate resources and maintain momentum.
Fifth, they protect strategic focus. Day-to-day operational demands inevitably compete for senior management attention. A growth committee ensures that growth remains a priority rather than becoming something that leaders discuss only when busy workflows slow, when we all know that is often too late and dips in a quiet month can nuke the gains made over two hectic months, which is soul-destroying.
For a growth committee to succeed, it should be small (probably three, or five people maximum), influential and action-oriented – and best not tagged to the end of a regular board meeting.
And there’s often a benefit to include an ‘Outsider Insider’ – someone who introduces an external impartial perspective and is able to ask those questions that others may not even think of. Meetings should be monthly or at least once every two months, supported by meaningful data and focused on decisions rather than updates. Updates need to be circulated ahead of each meeting to keep everyone focused on increasing profitability. Membership should include individuals with both the authority and the credibility to influence change across the organisation.
Whether you lead a law firm, accounting practice, consultancy or growth-focused entrepreneurial business, the principle remains the same: organisations that devote all their attention to managing today’s business usually struggle to create tomorrow’s.
My central point is that GROWTH deserves a seat at the leadership table.
To put it even more directly, the firms that build one are so often the ones that outperform their peers.
Robin Johnson is an ‘Outsider Insider’ to professional service firms and other growth-focused entrepreneurial businesses.