The Lateral Partner Questionnaire

Here are a few tips to help you get the LPQ done in a swift manner: 

1. Schedule an appointment with yourself on your calendar NOW (yes, now, while you are reading this post) to spend twenty minutes this evening reviewing the LPQ you just received. It’s important that you build momentum and a sense of urgency into completing this project. Schedule appointments with yourself over the next few days on your calendar that you are reserving as “deep work” time that will not be interrupted. 

2. Print it out on hard copy as a draft. 

3. Review it with a yellow highlighter and a pen. Highlight in yellow areas where you need to go back and find the information. You’ll see a lot of yellow. Put checkmarks in the areas where you know the information such as name, address, top clients, etc. Also, put checkmarks in any “yes” or “no” boxes and get the easy ones done first. 

4. In your mindset mini-goals for compiling certain pieces of data by a certain day as you review it. I’ll get the financial data compiled today, the insurance info tomorrow, the client data the next day, etc. 

5. Set a goal that you will have the LPQ completed by a certain date. Write “Complete by (date)” on the top of the LPQ.” That is your goal. Stick to it. 

6. If you are not sure how their financial apples translate into your firm’s financial oranges, then do your best to interpolate this and make a notation as such. Do your best. 

7. Firms check references. If you want to give them to the firm once you are closer to receiving an offer, then state such. If you don’t feel comfortable putting this information on the LPQ at this time, that’s okay, but you must tell them they can check references once we know things will most likely result in an offer. You need to at least say this.

8. If they ask you to sign the LPQ, then you need to sign it. You don’t want the firm to come back to ask for your signature. 

9. It goes without saying, but you need to be completely honest in all areas on this LPQ, whether that relates to how much business will port over, your past history, and any potential red flags such as personal credit issues. Answer all questions honestly and as accurately as you can. 

10. If you feel a sense of procrastination, then keep this in mind: procrastination is avoidance of stress. All you are doing is prolonging the stress of filling out the form. The most effective way to dissipate stress is to take action. By doing so, you’ll feel better about finishing the task, and will make your candidacy shine a little brighter by showing this new potential firm that you are serious about trying to be a good partner. If you find that you are putting off the task, then set the timer of your phone for 15 minutes and see how far you get in your first session. Chances are that you’ll keep working after the timer goes off, and that’s because, as with any big project, starting is the hardest part.