scaling Archives - Collective 54

Scaling a Professional Services Firm is Like Traveling to the Moon – It Isn’t Rocket Science: Part 1 – The Moonshot

Greg Alexander / November 1, 2024

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).

Pro Serv Blogs

10 Tips for Entrepreneurs to Go the Distance in Professional Services

Greg Alexander / October 21, 2024

As entrepreneurs in the professional service firm arena, we often embark on a journey with dreams of scaling our businesses, achieving success, and ultimately reaching the coveted exit. However, the reality is that many founders falter along the way, lacking the endurance required to go the distance. In a world where millions of firms are started each year, only a select few make it to a successful exit. Why? Because the path is long, challenging, and demands unwavering mental toughness.

Pro Serv Blogs

Scaling Sales in Professional Services: What Goes Wrong and How to Avoid It.

Greg Alexander / October 11, 2024

Scaling a services firm takes more than hiring salespeople and boosting your marketing budget. This is a common, major, and costly oversight. The cost of this mistake is typically $450k to $3 million in direct costs and lost sales. At Collective 54, we call these avoidable things that are simply down to a lack of experience “dumb taxes”. This cost is incurred before the founder realizes they skipped the steps needed to build the foundations correctly because they have not done it before. It often takes 2-3 years for founders to run out of patience with burning cash and not growing. Then, they take action to fix it. The solution is creating a systematic, replicable sales and marketing process that can grow along with your business.

Pro Serv Videos

Narrowing Your Focus: The Key to Scaling Your Business

Greg Alexander / December 20, 2023

Use this effective approach to overcome scalability issues and accelerate the success of your professional services firm.

Pro Serv Blogs

The Stockdale Paradox: Scaling Your Professional Service Firm with Unyielding Optimism and Pragmatic Reality

Greg Alexander / August 21, 2023

Named after Admiral James Stockdale, this paradox is about maintaining unwavering faith that you can and will prevail, despite the most difficult circumstances, while at the same time, confronting the brutal facts of your current reality.