Chart of the Week: 12/22

Boutique professional service firms are living on the edge. The % of revenue coming from the top 5 clients is way too high. If 1-2 clients stop buying the firm will fall apart. These firms are one bad phone call away from a crisis.

Founders know this, are trying to fix it, but cannot seem to pull it off. Very little change from first half 22 to second half 22.

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