Don’t Be a Victim
I thought running a professional service firm would get easier over time. Eighteen years later, I’m still waiting for that day.
Daily obstacles never stop coming:
Tips
Coaching As A Leadership Style
As we’ve been focused on scaling our company over the last two years, there have been a few moments that have keenly challenged and clarified my approach to leadership. Despite the professional services setting, in these challenging moments, I keep thinking back to my professional roots as a high school basketball and football coach. Market Eminence isn’t about being the loudest in the room; it’s about commanding more respect, earning higher trust, and building a permanent presence in your industry.
Scaling a Professional Services Firm is Like Traveling to the Moon — It Isn’t Rocket Science: Part 2 – The Small Team Engine
Launching a rocket to the Moon and scaling a professional services firm to the top of its industry share similarities – both endeavors require immense effort, strategic planning, and overcoming significant challenges like gravity, drag, and heat generation. Traveling to the Moon parallels the stages of scaling a firm to the top:
Why We Fail to Scale
Owners of boutiques are either focused on growing, scaling or exiting their Proserv firms. This post is focused on those owners looking to scale their firms. Many of us struggle to scale, even after years of positive growth. I have heard this from many of my peers in Collective 54. I have experienced it myself. So what’s the problem? Why do we fail to scale?
Picking the Moment to Scale Your Boutique
In the early days of building a professional services firm, the allure of scaling can be hard to resist. The vision of a thriving, self-sustaining company is compelling, but scaling too soon is the number one startup killer. Even in the best-case scenario, premature scaling can force you to backtrack or even start over.
Transparency in Boutique Professional Service Firms: A Fine Balance
In boutique professional service firms, be it consulting, software development, systems integration, managed services, or others, the role of the founder transcends beyond just leading the firm. It encompasses shaping the culture, defining the strategy, and making pivotal decisions that ultimately guide the firm’s trajectory.
Embracing the Seas of Change
The journey of a professional service firm owner can simultaneously be exciting, daunting, and fulfilling. Many have analogized this endeavor to that of a sailor crossing mercurial seas. The hardest part of any voyage is letting go of the past comforts of the shore and beginning your courageous trip. As you reflect on the early days of your business, you clearly remember the cash flow constraints, the scarcity of time, and the importance of each sale.
5 Questions You Must Ask Your Investment Banker
Hiring an investment banker isn’t something a person does every day. Statistically, most entrepreneurs sell only one business in their lifetime, often using the proceeds to retire or pursue new opportunities. For Collective 54 members, hiring an investment banker might be associated with the culmination of a 15-year project.
Three Steps to Making More Money in Professional Services
In the dynamic world of professional services, whether you’re leading a consulting firm, a leadership development training company, or a systems integration business, one universal goal resonates: making more money. Achieving financial growth in such industries isn’t just about hard work and expertise; it involves strategic business model evolution. Below, we outline a three-step process designed to guide owner-operators of small professional service firms towards greater profitability.
The Power Of Perspective: How Creating An Ad Board Can Accelerate Results
Most leaders relate to the occasional insecurity that comes with entrepreneurship. While feeling alone in moments of uncertainty is uncomfortable, turns out it’s a normal part of the growth process.
I never would have come to this conclusion without the help of my firm’s Advisory (Ad) Board – a group of pros who have helped turbocharge my journey as Founder and CEO of Waterhouse Brands.