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The 80/20 Rule on Preparing for an Exit for a Professional Services Firm: A Founder’s View

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Exiting a professional services firm will be a founder’s most consequential event. It will be the peak of their entrepreneurial journey. As a founder, I recently sold my firm to a growth-oriented private equity firm. Our sale process took 10 weeks, from the Letter of Intent to closing day. My M&A advisors have told me that our process was among the smoothest and most efficient they have ever seen. One key reason for this is the preparation completed before the process. There is a lot to prepare with limited time, so it is important for you to focus on the biggest bang for your buck. The 80/20 rule, also known as the Pareto Principle, states that 80% of outcomes come from 20% of causes for any given event. For your exit event, focus on the 20% of prep that yields 80% of the success. Here is what I focused on:

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Unlocking Qualified Leads: Leveraging Amazon Book Sales and PPC Advertising for Professional Services Firms

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In the competitive world of professional services, standing out often feels like shouting into a void—or a crowded networking event where everyone’s handing out business cards. But there’s a better way to establish authority and generate qualified leads: authoring a niche-specific book and selling it on Amazon. This isn’t just a way to flaunt your expertise—it’s a powerful lead generation tool. By combining it with Amazon’s Pay-Per-Click (PPC) advertising, your book can become a magnet for potential clients, positioning you as a go-to expert while expanding your reach far beyond your usual circles.

Pro Serv Blogs

The Evolution Imperative: Growing Through Continuous Learning in Aerospace Consulting

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The preface and the prompt (Claud.ai):
One day back in the 70s when I was a student in elementary school, my bus driver asked me what I wanted to be when I grew up. I said, “I don’t know but not an entrepreneur, my dad does that and it’s hard!” Today I am a founder and CEO of a growing consulting business in the aerospace industry that serves emerging technology aerospace companies. Despite my childhood observation that being an entrepreneur was daunting, I started this business confident that we could conquer the nascent space of certification with a small team of domain experts that I had come to know through my previous work.

Pro Serv Blogs

Managing Your Fractional CFO: The Essential Dos and Don’ts for Small Service Firm Owners

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As the owner-operator of a small service firm, be it an HR consulting firm, a lead generation marketing agency, a systems integrator for tools like HubSpot and Salesforce, or any other specialized service, you understand the challenges of wearing multiple hats. One crucial aspect that often gets overlooked is financial management, especially for those without a strong financial background. Hiring an external fractional CFO can significantly bolster your financial strategy, but it’s not without its pitfalls. Many owner-operators are not fully leveraging this resource, primarily due to a lack of financial acumen, resulting in not getting their money’s worth. This post aims to guide you on effectively managing your fractional CFO, ensuring that you get the insights and support needed to grow your business. Here are 10 dos and 10 don’ts to help you maximize this partnership.

Pro Serv Blogs

Stop Selling and Grow Your Business

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When I joined my father’s marketing research company in 1997 as his first employee, I had no idea that letting go of sales would ultimately 10x our revenue. My initial role was building our new research service, while my father handled all sales. Since our new service was an upsell to existing clients, the sales process was relatively straightforward at first.

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The Impact of AI on Your Pricing Strategy

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For those using AI to transform their business, it’s an exciting time. Most companies have already begun implementing AI to make their operations faster and more efficient, freeing up resources to take on more initiatives. It’s clear that those who use it more reliably will see substantial improvements in profitability in the coming months and years.

Pro Serv Blogs

A Tale of Transformation: From Cash Accounting Chaos to Accrual Clarity

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In the bustling world of boutique professional service firms, where expertise and innovation drive success, there lies an often-overlooked aspect of business that can make or break even the most visionary entrepreneurs: financial management. Today, I want to share a compelling story from within the Collective 54 community—a tale that underscores the critical importance of sophisticated financial practices and how embracing expert advice can lead to transformative outcomes.

Pro Serv Blogs

Avoiding Common Pitfalls: Financial Reporting Mistakes Small Service Firms Make

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In small service firms financial reporting is a crucial aspect that cannot be overlooked. Whether you’re an architect, run an accounting firm, or lead a consulting business, accurate and timely financial reporting is essential for informed decision-making and strategic planning. However, amidst the hustle of everyday operations, it’s easy to fall prey to common financial reporting mistakes that can significantly impact your firm’s financial health. Here are eight common pitfalls to avoid:

Pro Serv Blogs

How I Closed My First Long-Term Recurring Contract, and How You Can Too

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I’ve spent the last decade building my consulting firm, growing it steadily into a seven-figure operation. We serve a challenging market, partnering with nonprofits, foundations, and governments to eliminate generational poverty and uplift Black, brown, and low-income communities across the United States. While the work has always been meaningful, profitable even, it has also come with its fair share of stress.

Pro Serv Blogs

7 Reasons Why Founder-Led Sales Are Failing Your Firm’s Growth (and How to Break Free)

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In professional services, founder-led sales have been the lifeblood of growth for years. Many firms have thrived in their early days by relying on personal networks, referrals, and word-of-mouth.

However, as the landscape shifts, so does this model’s effectiveness. The way buyers make purchasing decisions has fundamentally changed, and the founder-driven, network-dependent approach is no longer enough to fuel sustainable growth. If you want to grow, scale, and ultimately exit your firm, the time to rethink your approach is now.

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