When it comes to shaping the future of your business, defining core values is essential. However, many founders delay this step far too long, leaving their culture to chance. In today’s workforce, especially with Gen Z leading the charge, culture reigns supremely. If your organization’s core values are not well-defined, it will not attract or retain top talent.
A close friend reached out to me after the company she founded failed its second due diligence. The buyer’s reasoning was harsh. “We don’t understand your numbers. And we think you don’t understand them either.”
Ouch.
Frustrated and anxious, she asked me: what does it take?
Only four things, I told her. Do this and I guarantee it won’t happen next time.
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.
When I launched my consulting firm in 2021, many people were shocked and worried for me when I told them I would only work with construction companies. Initially, I wondered if they might be right, but choosing to specialize in a vertical market has turned out very well for us. My company Well Built Construction Consulting works in strategic plan development and execution support for the construction sector. We’ve been in business for less than four years and have experienced comparably rapid expansion to peer companies precisely because of our targeted approach. We have 10 full-time staff members, an extended team of another 5-8 professionals, and strong net profits at this early stage of growth.
Once upon a time, there was a founder named Alex. He had a vision, a dream to build something extraordinary, a next generation marketing agency. With passion, creativity and determination, he launched his own marketing agency, eager to make his mark on the world
A few years ago, we advised a group of professional services sellers in connection with a dream of an acquisition event: $100 million+ exit as a platform company to a well-known private equity group within the professional services space. The deal promised not only a healthy cash payment of $50-60mm at closing, but potentially, future riches from the sale of the owners’ rollover equity once the business achieved another exit at an even higher valuation.
Once upon a time, there was a founder named Alex. He had a vision, a dream to build something extraordinary, a next generation marketing agency. With passion, creativity and determination, he launched his own marketing agency, eager to make his mark on the world
When we founded Tenzing, we set out to build a firm grounded in our personal values. This included, among other things, partnering and collaborating with like-minded Experts, Operators, and Practitioners. Reflecting on this journey, one factor that has remained constant over the past twenty-two years is the importance of expanding and nurturing our network. What began as a way to source Experts to staff projects, has evolved into one of the most effective methods for meeting potential clients. In this blog post, we will share some of the personal lessons we’ve learned about how to enhance your network while simultaneously boosting client acquisition.
I attended a B2B conference a while ago and learned an interesting fact about today’s buyer journey.
It came up in a conversation with the founder of a marketing agency and a key member of Google’s team responsible for digital marketing certifications. They shared that today’s buyers need up to 27 touchpoints before making a purchase decision.
What immediately popped into my head was the time and effort needed to provide these touchpoints. This was quickly followed by the thought that scaling content could not only foster this journey but also drive business growth.
Are you a founder of a boutique professional service firm searching for solutions to the challenges your firm is facing? Have you been enjoying Collective 54’s insightful content? If so, you might be wondering how you can take your involvement to the next level and become a valued member of the Collective 54 mastermind community. In this blog post, we will outline the 10 steps that many of our happy and respected members have taken on their journey to success.