Most professional services founders know these fundamentals. But in the day-to-day grind of building a business, it can be easy to forget them or let them drift.
This post is a reminder. A quick audit of the core elements that make firms successful. If you’ve got these dialed in and things are scaling nicely, great. If not, this might help you identify what needs attention.
I’ve been with Collective 54 for a little over three years now.
In that time, I’ve supported hundreds of founders and executives as they look to make more money, make scaling easier, and ultimately make an exit achievable.
Working alongside these leaders, and learning from my peers, mentors, and coaches, has felt like earning a real-world MBA. That kind of education is only possible because of the opportunities I have here.
The 95/5 rule in business builds on the idea that a small number of focused efforts can solve most issues. By directing 95% of attention to the most impactful 5% of processes, people, or technologies, businesses can maximize efficiency and drive meaningful change. This concept aligns with the Pareto Principle, often known as the 80/20 rule—but goes further by focusing even more precisely on critical areas. The 95/5 rule does not just reduce complexity; it empowers businesses to leverage minimal resources for maximum effect, bringing clarity to operational focus.
Discover the secret to crafting the perfect ideal client profile for your professional services firm.