Linkedin Podcast Spotify Youtube Amazon
APPLY
LEARN MORE
MEMBER LOGIN

Greg Alexander

Pro Serv Blogs

The Evolution of a HR Consulting Firm Owner: From Domain Expert to Savvy Businesswoman

/

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.

Pro Serv Podcasts

Episode 195 – Mastering Cash Flow: Strategies to Thrive in Challenging Times – Member Case by Ken Yager

/

2024 was challenging for many professional services firms, but those that optimized cash flow are now better positioned for 2025. Join this session to uncover the root causes of poor cash flow management and learn how operational factors impact cash flow. Gain insights on weekly cash flow management and aligning it with KPIs. Leave with actionable strategies to optimize cash flow and strengthen your firm’s resilience.

Pro Serv Blogs

Beyond Profit and Loss: Elevating Your Service Firm with the Power of Balance Sheet Insights

/

As owner-operators of small service firms, we often find ourselves engrossed in the day-to-day operations, leaving little room to dissect the financial health of our businesses critically. Our endeavors, whether they be law, accounting, consulting, marketing agencies, or other service-based industries, demand a level of financial acumen that transcends basic bookkeeping. It is here that I wish to guide my peers from a position of advanced financial understanding to appreciate the nuanced power of the balance sheet over the income statement in managing and scaling our businesses.

Pro Serv Blogs

Managing Your Fractional CFO: The Essential Dos and Don’ts for Small Service Firm Owners

/

As the owner-operator of a small service firm, be it an HR consulting firm, a lead generation marketing agency, a systems integrator for tools like HubSpot and Salesforce, or any other specialized service, you understand the challenges of wearing multiple hats. One crucial aspect that often gets overlooked is financial management, especially for those without a strong financial background. Hiring an external fractional CFO can significantly bolster your financial strategy, but it’s not without its pitfalls. Many owner-operators are not fully leveraging this resource, primarily due to a lack of financial acumen, resulting in not getting their money’s worth. This post aims to guide you on effectively managing your fractional CFO, ensuring that you get the insights and support needed to grow your business. Here are 10 dos and 10 don’ts to help you maximize this partnership.

Pro Serv Podcasts

Episode 194 – How to Grow Revenue and Stop Wasting Time with the Wrong Prospects – Member Case by John Ikosipentarhos

/

Are you struggling to grow revenue and win new business? Do you know the trigger events that put prospects in the market for your services? Are you talking to the wrong prospects? In this session, we’ll dive into strategies for identifying these trigger events and refining your ideal client profile (ICP) enabling you to offer a focused, niche service that resonates with the right prospects. Gain actionable insights on how to continuously focus your ICP to recognize when clients enter your market, helping you attract and win ideal clients that lead to revenue growth. Whether you’re defining your ICP for the first time or sharpening it further, this session will provide you with practical strategies to grow your business by targeting clients with high potential for alignment and success.

Pro Serv Blogs

A Tale of Transformation: From Cash Accounting Chaos to Accrual Clarity

/

In the bustling world of boutique professional service firms, where expertise and innovation drive success, there lies an often-overlooked aspect of business that can make or break even the most visionary entrepreneurs: financial management. Today, I want to share a compelling story from within the Collective 54 community—a tale that underscores the critical importance of sophisticated financial practices and how embracing expert advice can lead to transformative outcomes.

Pro Serv Blogs

Avoiding Common Pitfalls: Financial Reporting Mistakes Small Service Firms Make

/

In small service firms financial reporting is a crucial aspect that cannot be overlooked. Whether you’re an architect, run an accounting firm, or lead a consulting business, accurate and timely financial reporting is essential for informed decision-making and strategic planning. However, amidst the hustle of everyday operations, it’s easy to fall prey to common financial reporting mistakes that can significantly impact your firm’s financial health. Here are eight common pitfalls to avoid:

Pro Serv Podcasts

Episode 193 – Navigating a Partial Exit: Strategies for Maximizing Value and Retaining Control – Member Case by Travis Carey

/

As founders, many of us dream of a successful exit, but what happens when you’re ready to sell part of your business while keeping a stake in its future growth? In this session, we’ll explore the dynamics of a partial exit—a strategy that allows founders to take some chips off the table, while still staying involved and benefiting from the company’s ongoing success. Whether you’re considering selling a minority stake or a significant portion of your business, this session will arm you with the strategies, insights, and practical knowledge you need to approach a partial exit with confidence. Join us to learn how to unlock value while keeping a seat at the table for future growth.

Pro Serv Blogs

Harnessing AI to Redefine Scale in Professional Service Firms: A Blueprint for the New Era of Profit

/

The professional services industry has long faced an inherent challenge: scaling the business without proportionally scaling costs. Historically, every new client, project, or engagement has come with its own set of variable expenses, from employee time to specialized expertise. The arrival of artificial intelligence (AI), however, promises to turn this dynamic on its head by reducing the marginal cost of adding a new client to zero—or close to it. This shift is a game-changer, especially for firms in consulting, law, accounting, and other advisory domains where people have traditionally driven performance.

Pro Serv Blogs

Navigating Compensation Changes: Essential Insights for Professional Service Firm Founders

/

In the dynamic world of professional services, from marketing agencies and consulting firms to providers of fractional executives, navigating the intricacies of co-founder compensation is a critical aspect of maintaining harmony and fairness within the leadership team. With approximately 80% of professional service firms operating as partnerships, the question of how to adjust partner compensation equitably is a recurring challenge.

Linkedin Podcast Spotify Youtube Amazon

What is Collective 54?

NETWORK
CONTENT
DATA
COACHING
EVENTS
SOFTWARE
TESTIMONIALS

RESOURCES

BLOG
VIDEO
PODCAST
BOOKS
FIRM ESTIMATOR

CONTACT

APPLY
LEARN MORE

SUBSCRIBE TO
COLLECTIVE 54 INSIGHTS

© 2024 - Collective 54 LLC All Rights Reserved.