How to shift internal mindsets and client expectations to transition from
hourly billing to outcome pricing.
For decades, professional services firms have relied on the familiar (but flawed) currency of time. Billable hours remain the default across much of the professional services world, yet they are increasingly out of sync with the value clients actually seek. Clients rarely care how many hours something takes; they care about the outcomes achieved.
There’s a truism that’s never changed throughout my career–a satisfied client is the best business strategy of all. It might sound trite, but it’s true, and when you’re focused on improving client retention and lifetime value optimization, keeping client satisfaction as the goal is essential.
Data shows that slow movement in the sales process kills deals – which means saving time in your sales process is an extremely high priority.
Today we are being offered new innovative tools at a rapid rate which means that the burden of choice and then adoption can be overwhelming – so today I’m sharing a way you can accelerate your use of a templated sales proposal and use of your LLM to make proposals even faster without buying more tools.
Why This Matters: When the economy turns, CFOs sharpen their pencils. Discretionary services get cut. Mission-critical services stay. If your firm isn’t positioned as essential, you are at risk.
One of the hardest parts of running a professional services firm is keeping great clients and growing with them. Too often, founders fall into the trap of treating every client the same. That works in the early days, when you are just trying to get revenue in the door. But as your firm matures, that approach stalls growth.
In the world of professional services, consulting, legal, creative, and advisory, delivering real value has never been more critical. Clients today are under pressure to deliver results, not just rack up invoices or slide decks. They’re demanding faster outcomes, deeper insights, and partnerships that help them move forward, not just stand still with a binder full of strategy.
We’ve been around for nineteen years. Three and a half years ago, we chose to reinvent ourselves. Part of that process is to increase new clients who need something a bit different from the past. It’s important to grow with our current clients. We also need to bring in new logos from our new offerings. We started a team that focuses on “hunting” new logos about nine months ago. Currently, there are two account executives on this team. We have learned a lot in nine months.
Most founders I talk to are trying to grow without stacking up overhead or hiring more people than they need. We’re no different. For us, digital transformation isn’t some trendy phrase; it’s just a practical way to deliver clearer, faster, and more valuable results for our clients.
In the competitive landscape of Professional Services, boutique firms often face the challenge of growing, scaling, and eventually exiting successfully. Collective 54, the first community exclusively for founders of Professional Services firms, is dedicated to helping its members achieve these objectives. One effective strategy that firms can adopt is the Win, Keep, and Grow approach. This blog will explore how focusing on these three simple concepts can lead to profitable growth.
Early in my consulting career, I noticed something odd—smart, capable consultants showing up like robots. Great résumés. Fancy decks. But no humanity. No warmth. No soul. I remember sitting in a room of very senior executives as a 22-year-old with what I thought was a dumb question. My internal monologue went like this: