As an avid tech stock investor over the years, I remember coming across Net Revenue Retention (NRR) as a metric that often appeared in investor reports and earnings calls, especially for SaaS companies with a solid base of recurring subscription revenue.
When I joined my father’s marketing research company in 1997 as his first employee, I had no idea that letting go of sales would ultimately 10x our revenue. My initial role was building our new research service, while my father handled all sales. Since our new service was an upsell to existing clients, the sales process was relatively straightforward at first.
For those using AI to transform their business, it’s an exciting time. Most companies have already begun implementing AI to make their operations faster and more efficient, freeing up resources to take on more initiatives. It’s clear that those who use it more reliably will see substantial improvements in profitability in the coming months and years.
Professional services firms face constant pressure to be creative and rise above the clutter. For executives, particularly CEOs and COOs, one of the most effective ways to break through is by leveraging the power of strategic partnerships. By forming alliances with complementary companies and key industry players, professional services leaders can expand service offerings, enter new markets, unlock new revenue streams, and maximize their return on investment (ROI).
Since joining C54 I’ve loved hearing all the revenue growth stories, but the different ways profit is put to use is more reassuring. “Revenue is vanity, profit is sanity” often seen as being trite, but in boutique PS firms, sticking to the mantra is a game-changer.
For founders of boutique professional service firms, the shift from a non-recurring revenue model to a recurring revenue model is often a strategic move towards long-term stability and growth. However, this transition can be challenging, especially in terms of cash flow management. This article aims to guide you through this complex yet rewarding journey.
A healthy balanced revenue mix is going to impact your ability to sell your firm. Get it right before it’s too late!
As the founder of a boutique professional service firm, you understand the importance of growth. But not all revenue is equal.
Here’s an example of % of 2023 Revenue Target Achieved in Boutique Professional Service Firms.
It can be a challenge to figure out how to approach recurring revenue. But the good news is, you have options!
