What It Takes: Seven Secrets of Success from the World's Greatest Professional Firms

What It Takes examines the inner workings and success factors of leading professional services firms like McKinsey, Goldman Sachs, and the Mayo Clinic. Through extensive research and interviews, Charles Ellis identifies seven core attributes that differentiate these organizations from their competitors. The book presents detailed case studies of how elite firms recruit, develop talent, maintain standards, and build client relationships. Ellis draws on his decades of consulting experience to analyze the specific practices and cultural elements that drive sustained excellence. The narrative moves through each of the seven success factors, using real examples to illustrate how top firms implement these principles in practice. The focus remains on actionable insights rather than theory, with an emphasis on the human and organizational dynamics that create lasting institutional success. At its core, this is an exploration of how organizations build and maintain greatness over generations rather than years. The book's framework challenges conventional wisdom about professional services and presents a model for excellence that extends beyond quick fixes or temporary advantages.

Readers describe this as a detailed examination of elite professional firms like McKinsey, Goldman Sachs, and others. The book provides specific examples and case studies rather than generic business advice. Readers appreciated: - Deep research and insider access to major firms - Focus on organizational culture and talent development - Practical leadership lessons backed by real examples Common criticisms: - Length and repetitive content - Too much focus on a few specific companies - Writing style can be dry and academic Ratings: Goodreads: 3.9/5 (178 ratings) Amazon: 4.3/5 (48 ratings) One reader noted: "The examples are insightful but could have been condensed into half the pages." Another mentioned: "Great for understanding how elite firms operate, but not as useful for small businesses." Several readers pointed out that while the "seven secrets" framework feels artificial, the underlying research and company insights make it worthwhile for those interested in professional services firms.

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📚 Author Charles Ellis served as a consultant to some of the world's leading firms for over 50 years, including Goldman Sachs, Morgan Stanley, and JPMorgan. 🎓 The book draws heavily from McKinsey & Company, Goldman Sachs, and Cravath, Swaine & Moore LLP as prime examples of excellence in professional services. 💼 Ellis identifies "client focus" as the number one secret of success, noting that elite firms spend up to 50% more time with clients than their competitors. 🌟 The concept of "talent-based organizations" presented in the book was influenced by Ellis's experience as a professor at both Harvard and Yale business schools. 📈 The research for this book included over 150 interviews with senior partners and leaders across multiple professional service firms over a five-year period.