Growth. It’s the one constant we’re all chasing. More revenue. More Income. Higher valuation. Etc, etc,etc.
However, it doesn’t always go according to plan.
2023 saw a new high for my company as we increased revenues and income by almost 50% over the previous year. It was an exciting time that I – in my infinite wisdom – thought would go on. Because of course it would. Right?
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.
Discover the 9 common revenue sources for a successful professional services firm.
All revenue is not good revenue. Some types of revenue create more wealth for owners than others. On this episode, we interview Tony Mirchandani, CEO at RTM Engineering Consultants to discuss his approach to consultation fee quality.
All revenue is not good revenue. You will learn that some types of revenue create more wealth for owners than others.
