Once upon a time, there was a founder named Alex. He had a vision, a dream to build something extraordinary, a next generation marketing agency. With passion, creativity and determination, he launched his own marketing agency, eager to make his mark on the world
Are you a founder of a boutique professional service firm searching for solutions to the challenges your firm is facing? Have you been enjoying Collective 54’s insightful content? If so, you might be wondering how you can take your involvement to the next level and become a valued member of the Collective 54 mastermind community. In this blog post, we will outline the 10 steps that many of our happy and respected members have taken on their journey to success.
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.
Dear Collective 54 Subscribers, In the dynamic world of small service firms, where scaling is the ultimate goal, it’s essential to know what business you’re truly in. Are you the “Sage on the Stage,” orchestrating a multitude of employees to provide assistance, or are you the “Guide on the Side,” offering unique wisdom and advice to your clients? Understanding your place in the wisdom industry can be the key to unlocking your firm’s true potential.
If you’re a founder of a young and small professional service firm, you know the constant struggle of keeping your business afloat. The late nights, the relentless pursuit of clients, and the endless worries about making payroll each month are all too familiar. But fear not, for there’s a tool that can help you navigate these treacherous waters – the Payroll Peril-o-Meter. In this blog post, we’ll introduce you to this powerful tool that can be a game-changer for your business.
Hello, Collective 54 subscribers, I’m Greg Alexander, and today, we’re diving into a crucial decision many founders of boutique professional service firms face – whether to focus on strategy work, implementation work, or a combination of both. This decision can significantly impact the trajectory of your firm, the types of clients you attract, and your overall satisfaction with your work. Let’s explore the pros and cons of each approach:
As the founder of a boutique professional service firm, you’ve embarked on a unique journey filled with challenges and opportunities. In my book, “The Boutique: How to Start, Scale, and Sell a Professional Service Firm,” I introduced a framework that outlines the three key stages in the lifecycle of a small service firm: Grow, Scale, and Exit. Today, we’ll explore how your compensation as the Founder changes as your firm evolves through these stages.
Find out why every founder needs to be prepared to go through the experimentation period
As a founder of a boutique professional services firm, you may be contemplating your exit strategy. Understanding the M&A landscape is crucial to identifying who is most likely interested in acquiring your firm. In my experience, the most suitable buyers are typically firms that are substantially larger than yours, generally by a factor of 5-20 times the size of your firm. Here’s why:
Firm owners who have achieved scale and made a name for themselves are all too familiar with the inbound solicitation email from investors expressing an interest in their company. We don’t envy the inbox of such founders of service firms, nor the exercise of winnowing the field down to those with whom they might engage further…but we can help.