Who should drive your firm's growth? Mary Cloonan explores whether individual partners or a dedicated leader best fuels expansion
Every ambitious firm wants growth, but who should take ownership of it? Is it down to individual partners, or does the firm need a dedicated leader to drive expansion?
Many firms have treated growth as an afterthought. Yet, in today’s highly competitive market, this approach is insufficient. The firms that thrive are the ones that prioritise growth across the entire organisation, instead of depending solely on a handful of standout performers.
There’s no single answer to the question of who should lead growth, but some models work, particularly in more mature markets like the US, UK, and Australia, where firms have refined their approach for years.
Why growth needs to be intentional
Growth isn’t just about winning new clients; it’s about maximising opportunities across the board and deepening existing relationships, expanding into new markets, and ensuring that every part of the firm contributes to revenue generation.
Whether your firm is backed by private equity or partner-led, the real question is: are you making the most of the opportunities in front of you?
Growth is often left to chance. Some partners excel at winning work, while others concentrate on execution. However, when growth relies solely on personal initiative, opportunities can be missed. Implementing a more structured approach ensures that business development isn’t just an added benefit – it’s built into the firm’s DNA.
Three effective models for driving growth
Firms take different approaches depending on their structure, leadership style, and ambitions. To ensure growth is prioritised and embedded, they use three models.
1. The Chief Growth Officer (CGO) model – a unified approach
Appointing a Chief Growth Officer (CGO) can be a game-changer for firms that want a clear, structured approach to growth.
This leadership role integrates business development, marketing, client experience and cross selling, ensuring that growth is planned, measured and executed effectively.
Rather than simply focusing on new business, a CGO takes responsibility for the entire client journey:
- Business development strategy – Aligning development, marketing and client expansion with the firm’s long-term goals.
- Client experience and retention – Ensuring clients receive excellent service, encouraging referrals and long-term loyalty.
- Cross-selling and collaboration – Breaking down silos and helping different service lines work together to identify opportunities.
- Market positioning and thought leadership – Raising the firm’s profile in key sectors to attract high-value clients.
- Data-driven growth insights – Using client and market data to identify trends and opportunities.
This model works well for larger firms, particularly those with ambitious growth plans or PE investment. It ensures growth is handled strategically rather than left to individual efforts.
2. The partner-led growth model – with structure & accountability
Many firms still prefer a partner-led approach to business development. This approach can work well if it has structure and accountability.
Business development isn’t just left to chance in firms that succeed with this model. Instead, there’s a clear framework:
Partners have individual growth targets that are measured and reviewed.
Client expansion strategies are mapped out rather than being ad-hoc.
There's support from marketing and business development teams to enable partners to focus on high-value relationships.
Business development is built into the firm's culture, rather than being something squeezed in between client work.
For this model to work, there needs to be a firm-wide commitment to growth, not just an expectation that some partners will bring in work while others don't.
3. The hybrid model – growth champions and collaboration
A middle ground between a centralised CGO and a fully partner-driven model is to appoint “growth champions” within the firm. These are senior partners or directors who take responsibility for business development within their practice area or sector.
They focus on:
-
Developing relationships and identifying opportunities in their market.
- Encouraging collaboration between service lines to increase cross-selling.
- Working with marketing and BD teams to ensure the firm’s positioning aligns with market demand.
This approach works well in mid-sized firms where partners are engaged in growth but need more structure and coordination.
Your firm’s growth model
The best approach depends on the size, ambition, and market focus of the firm:
Smaller firms may not need a CGO but should have a structured growth committee.
Mid-sized firms often benefit from a hybrid model that balances accountability with collaboration.
Larger firms, particularly those preparing for a merger or acquisition or private equity investment, gain the most from a dedicated CGO.
What matters most is that growth is not left to chance. Regardless of the model, firms that take growth seriously and build a strategy around it succeed.
Your firm and culture
Growth isn’t something that just happens. It’s something firms need to be intentional about. In a numbers-based world, there will only be one indicator to say what is right for your firm so tracking the growth KPIs is key to understanding what will work best in your firm with your culture.
Mary Cloonan is Founder of Marketing Clever
LOADING...