Distinguished Fellow at Harvard Law School and CEO, Gardner & Co. research/advisory firm; founding member, Chief
How much certainty about the future do you expect your outside advisor to hold before she/he picks up the phone to discuss with you? Nearly all the corporate leaders I worked with last week answered, “I don’t expect them to have a crystal ball, I just want to know they care.” Or “I’m really worried about the future and just need someone to brainstorm high-level scenarios.” Turning the Q around to the partners in professional service firms – “How much do you need to know before calling a client?” – and the response is often “I wouldn’t be comfortable unless I can make accurate predictions about where tariffs/crypto/the economy/regulation is headed.” See the disconnect? Perhaps even worse, the business leaders generally assumed that their outside advisors were busy calling priority clients. And, therefore, since they didn’t hear from the advisor, they must not be a priority. Ouch. Here are several steps to break the deadlock: 1. Start by canvassing your colleagues: What are your fellow partners seeing and hearing from clients, regulators, etc.? In a quick problem-solving session that combines your market intel, you can create anywhere from a reasonably sound jumping off point to a “Firm X point of view” on hot topics. 2. Pick the right client: Start with a client you trust to build your confidence. For example, “My partners and I have been thinking about how AI adoption is reshaping operations in your industry. Would it help you to discuss?” Starting with a trusted client makes it easier to practice initiating meaningful, forward-looking conversations. 3. Embrace uncertainty: You don’t need all the answers before reaching out. If a client is concerned about the impact of geopolitical uncertainty on their international operations, you might say, “I know it’s difficult to predict political shifts in different regions, but let's discuss some potential scenarios and how we can prepare your business for different outcomes. We can explore ways to diversify supply chains or adjust risk strategies." 4. Initiate the conversation: Even when things seem quiet, it’s important to stay connected. Try something like “I’ve been following some recent trends in the pharma sector and thought it might be helpful to discuss how they could impact your business. Let me know if you'd like to explore any of these changes together.” 5. Focus on solutions, not predictions: When clients face uncertainty, the key is to work together on practical solutions. If a client is concerned about rising interest rates, you could say, “While we can’t predict how the market will shift, we can explore strategies like adjusting your financing options to help buffer against these changes.” Note that in all cases, we’re urging you to pick up the phone – not bog down someone’s inbox with a message. The future’s uncertain, and that’s exactly why your clients need you to reach out, not retreat. What’s the best advice you have for someone who’s hesitant to start this conversation?