The 9 Revenue Sources for Pro Serve Firms: How Many Are You Using?

Discover the 9 common revenue sources for a successful professional services firm. Learn about the advantages and disadvantages of each and how you may be able to realize more revenue this year by diversifying or strengthening how your firm makes money.   

In this week’s video, Greg shares:

• • The 9 Sources of revenue in the professional services business model
  • Pros and cons of each, plus additional things to think about
  • How to identify which revenue sources are best for your pro serve firm

These videos are published weekly and hosted on our new YouTube channel called “Profiting in Professional Services“.

Have You Structured Your Firm Effectively to Scale?

The professional services org chart is unique. With labor as the highest expense in your firm, it’s critical that you get this right. In this video, Greg Alexander, Founder of Collective 54 and Capital 54, shares the common ways that professional services firms organize their teams, the pros and cons to consider, and how to decouple your rate of growth from headcount.

In this video, you’ll learn:

• • The 3 types of employees you need to structure your team
  • The Up-or-out pyramid in professional services and why it’s a go-to model, but pitfalls to watch out for
  • Professional services team structure and other considerations to preserve margins

Moving from Founder-Led Sales to a Commercial Sales Team

Are you relying on one person to generate business through referrals? The path from a small business to a market leader requires you to build out a professional commercial sales engine. In other words, you need a team of people, excluding the owners, that are bringing in work with a predictable and consistent process. Join us to learn about the attributes that make up the engine.

In this week’s video, Greg shares:

– How to build a team that doesn’t rely on the heroics of a few individuals

– Developing a consistent process for recruiting and training sales talent

– What you should know if you plan to exit your firm one day 

Have you ever said “Nobody can do what I do?” At Collective 54, we hear this a lot – but if you want to grow and scale a pro serve firm, you can’t be the hero. In fact, Most pro serve founders have more 90%+ of their net worth tied up in their firm. However, that worth will never be fully realized if you’re the linchpin in your own operation. A team is critical in solving this. 

In this week’s video, Greg shares:

1. 1. 1. How to avoid the hero style management firm
         
         
      2. 3 key questions to ask yourself when scaling your business
         
         
      3. Signs you may be stuck in a lifestyle business and how a team can solve this