Business performance over time (clients, reputation, financial surplus) depends on the resources we have.
Resources are won and lost over time (clients today = sum of all clients ever won, minus all ever lost).
Resources bring with them a characteristic contribution to the rest of the system (staff carry with them an increasing level of experience, that determines their contribution to client-service quality).
Robust growth depends on a continuing balance between resources.
Imbalances may damage critical intangible factors (reputation, pressure on staff, knowledge-base)
Professional organisations may choose amongst several performance objectives - growth, reputation, partner-wealth - each with its own implications for how the organisation is managed through time.
Appropriate policy choices (hiring, promotion, client-development) will vary, depending on the state of the business and the direction in which it is moving.
Choosing to devote effort to build and sustain a knowledge-base of codified learning from experience with clients is time-consuming, demanding effort from professionals who would otherwise be serving clients. However, this resource drives better quality work, enhances reputation, and eases client-acquisition.
Professional staff are motivated by challenging work, promotion prospects and likely future rewards (amongst other factors), and providing these benefits depends on skillful development of staff and clients.