When I first began my journey as a founder of a boutique professional service firm, I was engrossed in the logistics of setting up, hiring the right talent, and pitching to clients. As many founders do, I overlooked a critical aspect of the business: contracts.
Fraud, a word that sends shivers down the spine of business leaders, is not always committed by faceless outsiders. In most cases, the culprits are the very individuals we trust – our employees.
In the bustling world of modern business, the divide between product-driven and people-driven enterprises might seem subtle but carries with it profound implications.
When the topic of employee stock options arises, thoughts usually gravitate towards tech startups and Silicon Valley’s golden handcuffs. However, the world of boutique professional service firms has its own unique landscape.
Starting a boutique professional service firm is an exciting journey. Here, we’ve distilled our collective experiences into eight key questions every founder team should ask and answer when structuring ownership:
If your firm delivers technology, engineering, design, architecture, or IT services, chances are good that you will incur R&D oriented expenses, whether you know it or not.
The hiring process is littered with pitfalls that could jeopardize the very foundation of your enterprise. So, what should you be wary of when bringing on a key employee?
Acquiring or merging with other businesses is a strategic decision that requires careful financial and tax planning.
The decision between hiring contractors or employees is a crucial one for founders of boutique professional service firms.
Whether you’re the co-founder of a consulting firm, a marketing agency, a software development firm, or another type of service firm, the common denominator for ensuring long-term harmony and clarity in ownership matters is a well-drafted buy-sell agreement.
