Selling your business is the most difficult event during a business owner’s journey. Period. After 25 years advising business owners, I have developed a deep conviction in the phrase that during ownership transition “the soft stuff is the hard stuff.”
Historically, something has always been thought to disrupt companies, from the printing press to machinery to Excel, and now AI. Every day, I log into LinkedIn or other social media and see new content about AI. Some are inspiring, some educational, but there are also warning AI will replace the whole workforce.
This quote resonates with me: “Work on the business, not in the business.”. For me, part of working on the business is making myself more resilient, healthy and happy so that I can make the investments in the rest of the business. If I’m not stable, energized and able to bounce back from challenges, then how am I supposed to work on the rest of the business?
Most boutique firm owners believe revenue growth comes from hiring a “rainmaker.” The truth? One star seller won’t save you. What scales is a repeatable system, not a heroic individual — and today, AI can help build it faster and smarter.
As CEOs of professional services firms, we often tell our clients, “What got you here won’t get you to the next level.” We say it with conviction because we’ve seen it play out at companies of all kinds.
In the world of professional services, consulting, legal, creative, and advisory, delivering real value has never been more critical. Clients today are under pressure to deliver results, not just rack up invoices or slide decks. They’re demanding faster outcomes, deeper insights, and partnerships that help them move forward, not just stand still with a binder full of strategy.
Let’s be honest: your to-do list is lying to you.
It looks productive. It feels necessary. But in reality, it’s a guilt trip disguised as a plan — a mashup of legacy tasks, half-finished habits, and things you swore you delegated but somehow ended up doing again this week.
“The riches are in the niches” is a phrase I’ve heard time and again during my time with the Collective 54 community—and it couldn’t be more true in professional services. Clients aren’t just buying time; they’re buying expertise. They want proven frameworks, methodologies, and insights that increase their chances of success. Here are three reasons why your professional services firm should strive to be a true specialist in your niche:
Big Deal Excitement Can Blind Us. Imagine you have a massive deal in the pipeline. This is it, it is your ticket to the big time. You’re excited, as you should be. But is the deal a good deal or not? Sometimes our excitement lends us rose-tinted glasses; glasses that blind us to agree to terms or be overly optimistic for performance. We once experienced a client engagement where our excitement blinded us, which caused us to lose meaningful money, something we didn’t anticipate due to several terms within the deal.
Collective 54’s Greg Alexander frames the lifecycle of a professional services firm as a 15-year journey: 5 years of growth, 5 years of scale, and 5 years to exit. If I had followed that path, I’d be on my third company by now.