The mission of Collective 54 is to help us founders grow, scale, and exit their boutique professional services firm. We are all on various points in that journey experiencing all of the same elation and frustrations that are part of the territory. I have recently become more focused on the exit that I will, in part, define the culmination of that journey.
One of our core beliefs at Tenzing is that deep, authentic conversations have the power to drive business forward. Over the years, we’ve found that sharing stories—especially those of fellow Experts, Operators, and Practitioners—has not only enriched our community but also helped strengthen our brand and attract new clients.
The allure of rapid expansion can often blindside the most astute of entrepreneurs. This tale unfolds the harrowing journey of a Collective 54 member, a spirited founder of a social impact consulting firm, who found himself ensnared by the seductive yet perilous embrace of debt to fuel his firm’s growth. His story serves as a cautionary tale and a beacon of hope for those navigating the tumultuous waters of business expansion.
Once upon a time, in the bustling world of human resources, there was a dedicated HR consultant named Sophia. Sophia had carved a niche for herself in the travel industry, providing tailored HR solutions to companies that were as diverse as the destinations they promoted. Her firm was her pride, built on a foundation of extensive domain knowledge and a passion for people management. Yet, despite her expertise, Sophia felt a growing realization that understanding human resources was only one part of the equation to business success.
I’ve always loved building relationships. It’s something that came naturally and felt second nature, so much so that I didn’t fully appreciate its value until I started a boutique consulting firm in 2011. Over time, I realized that relationships weren’t just an incidental part of our work—they were at the very core of our growth and success.
The preface and the prompt (Claud.ai):
One day back in the 70s when I was a student in elementary school, my bus driver asked me what I wanted to be when I grew up. I said, “I don’t know but not an entrepreneur, my dad does that and it’s hard!” Today I am a founder and CEO of a growing consulting business in the aerospace industry that serves emerging technology aerospace companies. Despite my childhood observation that being an entrepreneur was daunting, I started this business confident that we could conquer the nascent space of certification with a small team of domain experts that I had come to know through my previous work.
In the world of small service firms, the journey from struggling to thriving can be a daunting one. Each firm’s unique challenges and complexities can often seem insurmountable, especially for those who have dedicated their lives to building their businesses. But as the saying goes, “When one door closes, another one opens.” For one member of Collective 54’s mastermind community, this sentiment rang true, leading to a transformative shift that turned his unsellable lifestyle firm into an attractive acquisition target.
To grow your consulting business, it is best to begin with the problem you will solve for clients. Why? There
Professional services firms have more intellectual property than they may think. On this episode, we discuss how to monetize and productize your intellectual property by speaking with Adriaan Bouten, Founder of dPrism.