Decoding Star Professional Service Firms: A Guide for Extraordinary Growth

Professional service firms (PSFs) have not been extensively studied by many researchers. However, there are intriguing questions that demand answers. Why do some PSFs, such as KKR, thrive extraordinarily, while others fail to do so? What do these "special" firms do that sets them apart and makes them exceptional? These are challenging questions because most "star" firms remain perplexing mysteries to the general public. Nevertheless, the common characteristics of the best of the best are surprisingly clear and striking.

"On Becoming Extraordinary" describes the ways in which some of the most well-known professional service firms succeed in emerging victorious. The insights and ideas that fill the pages of this book depict the realities of PSF practices. The overall lessons learned from a multi-year research project are based on an extensive analysis of successful firms:

• 338 interviews were conducted with senior managers, directors, and partners of professional service firms. Interviewing these individuals provided invaluable insights into the voice, character, and personality of PSFs. • 366 interviews were conducted with senior officials of client organizations, primarily members of management boards, supervisory boards, and advisory boards. Understanding may also be gained by experiencing the PSF from a client's perspective. • Secondary research and archiving material were utilized. The secondary data consulted came from syndicated data sources such as Gartner, IDC, and Forrester, including many journal and popular press articles. • Interviews, email exchanges, and telephone conversations were held with knowledgeable outsiders, such as industry experts, renowned professors, academic subject matter experts, and experienced journalists.

By synthesizing the findings, the book presents a set of common traits, a rich body of insights and perspectives (principles of success), and a better understanding of what essentially drives excellent PSFs.

Pieter Klaas Jagersma, Ph.D., is an independent researcher, business professor, and vice-chairman of Rijk Zwaan. The insights and perspectives shared in this book shed light on the elusive yet captivating world of professional service firms, offering valuable lessons for those seeking to understand and emulate the success of the best-in-class.

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