Pro Serv Podcast by Collective 54

In this session, we peel back the layers on how a seasoned ERP implementation consulting firm revolutionized its business model, moving from the traditional time and materials approach to a groundbreaking fixed fee structure. Join Collective 54 Member Alan Wyne, CEO at Innovia Consulting, and discover the strategic decisions that led to this bold shift, the challenges overcome along the way, and the significant impact it had on their competitive edge and profit margins. Tune in to witness a story of adaptation, resilience, and success that could redefine the way you think about how you monetize your expertise. http://www.collective54.com

In this session we delve into the fast-paced world of an executive coach in the interior design industry, exploring the methods that she uses when it is time to stop studying and start doing. Our role model, Collective 54 Member Gail Doby, Co-Founder at The Pearl Collective, shares her expert insights on how to deal with a large volume of ideas, how to prioritize them, how to sequence them, and how she includes her executive team to quicken implementation. http://www.collective54.com

In this session, we delve into the science of time management and the art maximizing employee productivity within boutique professional service firms. From strategic time management techniques to fostering a culture of efficiency, we explore actionable strategies to ensure every hour counts. Discover how to optimize resources, streamline processes, and empower employees to thrive, ultimately driving success for both individuals and the organization as a whole. https://www.collective54.com

In this episode, we delve into the remarkable journey of Collective 54 Member, Dave Makerewich, Founder & President at Maven, who transitioned from being a client to establishing a thriving boutique professional service firm. Discover how his firsthand experience as a client shaped his understanding of the industry's needs and fueled his entrepreneurial spirit. Through insightful anecdotes and lessons learned, uncover the unique challenges and triumphs of building a business from a client's perspective. https://www.collective54.com

In this session, Collective 54 Member Tom Zucker, President at EdgePoint Advisors, and Greg Alexander review recent research from over 200 acquirers that suggests the 5 attributes that make a firm an attractive acquisition target, and the 4 attributes that scare acquirers away. The research quantifies how “attractiveness” drives up valuations and how you can increase the worth of your firm. https://www.collective54.com

In this session, Collective 54 Member Andrew Thompson, CEO and Co-Founder at Notch Partners, LLC, together with their Head of Business and Financial Services, Jeff Weathers, will share how it is never too late to get serious about converting a lifestyle firm into a scalable boutique. This session will discuss the use of a dedicated task force to make up for lost time and how it can restart the boutique lifecycle clock. You will learn the who, what, when, where, why, and how to invest in a dedicated task force inside a small service firm to get back on track. https://www.collective54.com

In this session, Collective 54 Member William Lieberman, Managing Partner at The CEO’s Right Hand, and Greg Alexander, simplify the financial jargon surrounding a boutique professional service firm's Profit and Loss (P&L) statement. Join us as we decode revenue, expenses, EBITDA and net income, offering insights applicable to any member, regardless of their financial expertise. Whether you're a consulting firm, marketing agency, systems integrator or another type of small service firm curious about financial matters, this exploration into the world of P&L statements provides valuable insights into understanding and interpreting financial health. https://www.collective54.com

Join Collective 54 Member Michael Ivie, Managing Partner at Phyton Consulting, and learn how his firm got to $3 million per month in revenue before their second birthday, crashed because of a Black Swan event, and executed a world class recovery, emerging stronger than ever. This session will help members identify risk, in all its forms, and develop a risk mitigation strategy to bullet proof their firms. https://www.collective54.com

In this session, Collective 54 Member Jamey Harvey, CEO at Agilian, will share how he addressed one of the biggest risks for small service firms- client concentration. Items discussed will be benchmarks to measure client concentration, an early warning detection system, the impact on strategy client concentration should have on your firm, how long it takes to fix the issue, the most successful risk mitigation strategies, and how to prevent client concentration from destroying your firm. http://www.collective54.com

According to the US Bureau of Census, 90% of small businesses in America are family-owned and operated. Many Collective 54 members work alongside family members daily. Are you? Should you? There is a different set of management best practices used to grow, scale, and exit a service firm owned and operated by a family. Attend this session to learn from Collective 54 Member Carajane Moore, President, together with her brother Tom Searcy, Founder and CEO, at Hunt Big Sales, on how mixing family and business can be an effective way to fulfill your dreams—personal and professional. https://www.collective54.com

In this session, we delve into the pivotal function management meetings serve during the intricate process of selling a firm. We'll explore how these gatherings can effectively showcase the company's strengths, address potential concerns, and foster a sense of trust and transparency with prospective buyers. Attendees will learn from Collective 54 Member Matt Rosen, Founder & CEO at Allata, how to leverage management meetings to not only impress buyers but also to secure a favorable sale outcome. www.collective54.com

Join Collective 54 Member Andrea Fryrear, CEO and Co-Founder at AgileSherpas, to learn how to make growing revenues easier by implementing content driven inbound marketing. In this session you will learn what real content marketing is- why it works, how it is different than fake content marketing, how to engage an audience, create compelling content, use tech to scale, how content marketing scales a founder’s impact exponentially, ways to convert time wasted creating thought leadership into time well spent generating revenue, and ways to get started. https://www.collective54.com

In this session, discover the inside track on how small service firms can punch above their weight and land lucrative government contracts. Join Collective 54 Member Paul Karch, Founder at Gardant Global, as he guides you through strategic partnerships with large contractors, providing the roadmap to navigate the complexities of government procurement processes. Learn the secrets to leveraging these alliances for growth, stability, and success in the public sector marketplace. www.collective54.com

In this insightful case study, we delve into the remarkable journey of a nimble 10-person professional service firm as they navigate the complexities of selling their business to a 300-strong industry leader. From leveraging their specialized expertise to fostering a culture that resonated with their larger counterpart, Bart Mroz, Engagement Lead at ITX Corp., shares the key steps their small firm has taken to position themselves as an indispensable asset, paving the way for a merger that promises to be a win- win for all parties. www.collective54.com

In this session, join Collective 54 member John Kearney, Founder at The Buyer’s Way, as he discusses how to build compensation plans for the sales function inside a boutique pro serv firm. He will share how the comp plans need to change as a firm migrates from founder-led sales to a part-time sales force to a mature fully function commercial sales team. Learn how to figure out how much to pay, the proper split between salary and commission, the measures to pay commission on, and the costly mistakes to avoid. https://www.collective54.com

Embarking on the journey of selling your firm can be as complex as it is exciting. In this session, join Collective 54 member Jay Smith, Vice President of Sales at Integris IT, as he helps demystify the due diligence process, ensuring you navigate these critical waters with confidence. From legal audits to financial analysis to customer references and employee satisfaction reviews, we delve into the essential steps every seller should undertake to secure a transparent and advantageous deal. https://www.collective54.com

Attend this session as Collective 54 member Tony Amador, Co-Founder & Chief Client Officer at Proxxy, outlines the crucial steps for a small service firm to reposition its value proposition based on actual client needs and desires. This session discusses the importance of listening to client feedback, extracting actionable insights, and then applying them to refine the firm’s strengths and offerings. https://www.collective54.com

Many professional service firms foolishly think the path to scalability is to become a software company. However, founders of service firms make more money than founders of software firms, generate more wealth for themselves at exit, and succeed much more often. Attend this session and learn from Collective 54 member Nathan Kievman, Co-Founder and CEO at Linked Strategies, on how you can avoid making the devasting mistake of trying to become a software company. https://www.collective54.com

Generative AI is transforming the professional services industry, lifting productivity levels to heights thought unobtainable. Interacting with large language models has become a required core competency. This is best done via prompt engineering. Attend this session and learn what prompt engineering is from Collective 54 member, Stephen Straus, Managing Director at KUNGFU.AI, together with their Principal Machine Learning Engineer, Numa Dhamani. https://www.collective54.com

Small service firms are overly dependent on a few key employees. The departure of one can cause much pain for the Founder and impede the progress of the firm, especially if it was unexpected. Attend this session and learn from Collective 54 member, Phillip Acosta, CEO at GuROO LLC, on how you can prevent this trouble from stinging you. https://www.collective54.com

Your brand matters. In the professional service industry, Founders need a brand for the firm, the service offering, themselves, and their talent. Attend this session and learn from Collective 54 member, Chad Prinkey, Owner at Well Built Construction Consulting, about how brands are built inside small service firms, and how they help boutiques punch above their weight class. https://www.collective54.com

The personal lives of the Founders evolve as a firm advances. And the professional lives of the Founders morph as a firm matures. How can partners stay in harmony with themselves, and with each other, along the entrepreneurial journey? This session with Collective 54 members Matt Jenkins and Nick Moretta, Partners at Other., shares how partners work well together and use a tool called The Commitment Letter. https://www.collective54.com

Boutique service firms often confuse staff augmentation work with advisory work and with managed services work. These are three different types of services that are marketed, sold, and delivered differently. Each has its own margin profile. Balancing the mix of these three correctly can be the difference between running a firm with good margins or a firm with poor margins. Attend this session with Collective 54 member Ryan Buell, Founder & CEO at Sayva Solutions, and get clear on how to manage the revenue mix. https://www.collective54.com

Uncle Sam is the world’s biggest client. Yet, many boutique service firms do not do business with the government. This session with Collective 54 member Frank Tsamoutales, Founder & Chief Executive Officer at Tsamoutales Strategies, is for firms who do not do business with the government but wonder if they should. We will cover the basics such as why elections matter, understanding legislation, and partnering. https://www.collective54.com

Recruiting for sales positions in a small service firm is not the same as recruiting for sales positions in a large service firm, or in a product company. This session with Collective 54 member Carter Hopkins, Founder & CEO at Pursuit Sales Solutions, will help you avoid making costly hiring mistakes as you build out your sales team. www.collective54.com

What role should the Founder of a boutique professional service firm play in the process of acquiring new clients? That of an Executive Sponsor. And how can a Founder perform in this role with excellence? By using executive language. Attend this session and learn from Collective 54 member, Carajane Moore, about executive sponsor programs and executive language. www.collective54.com

Small service firms need to generate leads but are constrained by limited resources. Budget and talent are in short supply. Therefore, what works in a small service firm is different than what works in a large service firm, or in a product company. Attend this session and learn from Collective 54 member Christian Banach, Principal & Chief Growth Officer at Christian Banach LLC, what works, and what does not work, for small service firms. https://www.collective54.com

Listening to clients intentionally is a core competency for service firms attempting to scale. There are 5 listening techniques appropriate for a boutique service firm. They are: 1- client advisory board, 2- post-project reviews, 3- client satisfaction program, 4- win-loss program, and 5- conferences. In this session, we take a deep dive into #2 post-project reviews. Learn from Collective 54 member Nicole Merrill, Co-Founder and CEO at Vecteris, what post-project reviews, why they are required, the benefits they produce, and how and when to perform them. https://www.collective54.com

Quality work is table stakes, not a competitive advantage. Lots of firms deliver quality work and many clients cannot tell the difference between great work and average work. In contrast, the client experience is a powerful differentiator. Very few firms can deliver outstanding client experience consistently. Those that can scale. The tool they use to do so is called a journey map. Attend this session and learn from Collective 54 member Miles Kailburn, Chief Executive Officer at Old Town Media, what a journey map is, and how to create and use them effectively. https;//www.collective54.com

A collection of tactics is not a strategy, nor is a financial forecast or a budget. A strategy defines who you serve, what you do, how you do it, and how you do it differently. And a strategy begins with a clear set of goals. In this session, learn how Collective 54 member Jason Mills, Director of Engineering at TribalScale, and his team, adopted a formal goal-setting methodology, called OKRs, to get focused on what matters most. https://www.collective54.com

Podcasting is a perfect marketing channel for boutique professional service firms. It allows a firm to authentically connect with its target market at scale cost effectively. Yet, many members are not taking advantage of this tool. In this session, Collective 54 member Tom Schwab, Founder at Interview Valet, will teach members how to leverage the podcasting channel to grow their firms. https://www.collective54.com

As a firm scales, bureaucracy creeps in and slows the growth trajectory. Culture is a substitute for bureaucracy, and it allows a boutique to retain its identity as it scales. In this session, learn from Collective 54 member George Jagodzinski, Managing Partner at Intevity, on how he as a founder built a powerful culture with a fully remote workforce, and how it led to outstanding business results. https://www.collective54.com

Offshoring, or Nearshoring, is a proven method for founders to earn more. However, in a post-pandemic world, the acceptance of remote work has increased, and this has had a profound effect on labor costs across the globe. In this session, learn from Collective 54 member Satyam Kantamneni, Managing Partner at UXReactor, on how the cost per hour shifts by location, and how to take advantage of the opportunities being created. https://www.collective54.com

Collective 54 member Jamey Harvey, CEO at Agilian, has doubled revenue and tripled margins in 18 months. This session shares how he did it by implementing the Boutique Framework, in its entirety, instead of one idea at a time. Hear how this remarkable entrepreneur went for it and won. https://www.collective54.com

Pro serv firms are people-driven businesses, therefore, getting the people’s decisions right is mission critical. As a result, many members are using assessment tools, or have in the past. However, the results have been mixed. In this session, learn from Collective 54 member Ted Jackson, Owner at SIGMA Assessment Systems, Inc., together with his Vice President & Head of R&D, Dr. Julie Carswell, on how to improve the results you are getting from assessment tools. Dr. Carswell is an expert on this topic, with a PhD in organizational psychology. https://www.collective54.com

Some members want to exit, but they cannot. The reasons are many. For example, insufficient EBITDA, high client concentration, over-dependence on a founder, and many others. The journey to fix these issues is clear but can take many years and millions of dollars. And for some, this is unattractive. An alternative is a merger of equals. Attend this session and learn from the discussion with Collective 54 member Jonathan Wilson, President & Chief Value Creator at Dubb Value Creation, on how a merger of equals can convert an unsellable boutique into an attractive firm for many acquirers. https://www.collective54.com

Sei-Wook Kim ran his agency for 16 years and never had to lay anyone off. Then, in year 17, he had to lay off 15% of his work force. Layoffs are a fact of life when you run a boutique, especially if you do not have much recurring revenue. Sei-Wook will share lessons learned from his experience. These lessons will help you execute a layoff if, or when, the time comes. https://www.collective54.com

In this session, member Ken Yager shares how he discovered that his traditional client was not going to get his firm to reach its full potential. Ken shares how he changed his ideal client profile, and as a result, has significantly improved his margins. Attend this session and learn how to adjust your target client profile as your firm progresses along its lifecycle. https://www.collective54.com

Scaling boutiques need to build a sales team yet delay doing so because of the perceived risk and expense. In this session, member Dan Morris shows us how to reduce the risk and ease into it by leveraging fractional sales leadership. Most boutiques use fractional finance, HR, IT, and Legal executives and it may be time for you to deploy the same approach to sales. https://www.collective54.com

Moving away from hourly billing leads to better margins, higher client satisfaction, and happieremployees. Yet, many boutique founders are afraid to do it, and do not know how. In this session, member Sonia Miller-Van Oort shares how she built her 12-person law firm using alternative fee structures. https://www.collective54.com

Selling and delivering insight is at the heart of what professional service firms do. Some pro serv firms have packaged their expertise into research and sell it as a “product” via subscription. Attend this session and hear how member Mike Ellison has done this and built a 95-person firm in the process. https://www.collective54.com

Member Mike Braun started Pivotal Advisors with his brother to get off an airplane and make a living with less stress. One day he realized he wanted more than a lifestyle business. This required the recruitment of the next generation of leaders who wanted a piece of the pie. Mike masterfully created a plan to allow for equity to be shared with the new team. And in the process, he built a legacy, a firm that would last long after he and his brother were gone. https://www.collective54.com

Power members Eric Weisgarber and Adam Diesselhorst have implemented succession planning at their marketing agency, inspired in part by the Collective 54 book The Founder Bottleneck. As a result, they have identified their high potential employees and are preparing them to take over the firm upon exit. This has allowed them to scale smoothly without the employee headaches and drama found in many firms. https://www.collective54.com

Member Jeff Pedowitz was one of the pioneers of the SaaS era by driving adoption of marketing automation technology from Eloqua, Marketo and others. This allowed his firm, The Pedowitz Group, to dominate his niche for almost two decades. Now, Jeff sees the next big wave, AI, and he shares with Collective 54 how to ride it all the way to the bank. https://www.collective54.com

Win/Loss reviews are a powerful way to improve your sales results. Yet, most members are not doing them because they incorrectly think they are hard to do and require lots of time. In this session, member Brady Jensen, and expert in win/loss reviews will give members the method, tools, and templates to allow them to do this correctly, quickly, and cheaply. https://www.collective54.com

The average boutique pro-serv firm is using 10-15 SaaS applications yet none of them talk to each other. This makes it hard to get a true 360-degree view of your firm. In this session, data warehousing expert and member Aron Clymer will show members how to solve this problem easily, and cost effectively. https://www.collective54.com

Building a sales team inside of a consulting firm is hard. However, it is a requirement if a firm is going to scale beyond a Founder led lifestyle business. Adding to the difficulty, is the need to go through an expensive and time-consuming trial and error period. It takes patience and many experiments before a firm figures out what works for them. Listen to this episode and hear from Collective 54 member, Scott Arias, how he figured out the model that worked for him. Scott is a war hero, and he has applied what he learned in the Navy to go from $0 to $20+ million in just 14 years. Members are encouraged to attend the exclusive Q&A session with Scott and his more about his inspiring story. www.collective54.com

Running a lifestyle business can lull a Founder to sleep. The days, weeks, months, and years pass by as you are “doing just fine”. Then, one day, you are in your mid-50s, and realize you cannot retire, and after all these years, you don’t have much to show for your life’s work. What then? Listen to this episode and learn how Collective 54 member, Tad McIntosh, is dealing with this head on. Tad shares how after 20+ years he is trying to convert a lifestyle business into something he scale, and sell, someday. Members who attend the private Q&A with Tad can ask him the tough questions directly and learn from their peers, many of whom are in the same situation as Tad. https://www.collective54.com

The Pro Serv Podcast often discusses how to exit a professional service firm. But, on this episode, we flip the script and discuss how to scale by purchasing professional service firms. Collective 54 member, Colton Hathaway, shares how Northern Commerce was created through a merger, and how they have grown by acquiring other firms. By listening to this episode, you will learn how you might do the same. If you are a member, be sure to participate in the private Q&A with Colton and ask him the specific how-to questions you will have after listening to this show. http://www.collective54.com/

Productizing a service can lead to fast growth and large scale. But, it seems scary and many Founders of service firms do not know where to start. Listen to this episode, and hear how Collective 54 member, Nish Parikh, funneled cash from his staffing firm into the development of a product called Talent Arbor. As a result of this innovation, Nish is helping those on the Autism spectrum build rewarding careers. Members are invited to attend the private Q&A session with Nish and hear how leading with empathy drives innovation and impact. http://www.collective54.com/