Understanding the Use of Debt in Boutique Professional Service Firms
As the founder of a boutique professional service firm, one of the essential yet challenging aspects of business management is navigating the financial landscape.
Pro Serv Blogs
The Essential Insurance Needs of Small Service Firms
It’s an often-observed reality: many boutique professional service firms operate without sufficient insurance coverage, unwittingly exposing themselves to considerable risk.
How to Win in a Fragmented Market
Understanding and appreciating what makes fragmented markets distinctive is important. When you understand them better – especially those in the professional services field – you can adjust your operations to consistently improve your market share and margins.
The Six Types of Contracts in Professional Service Firms: An Insider’s View
When I first began my journey as a founder of a boutique professional service firm, I was engrossed in the logistics of setting up, hiring the right talent, and pitching to clients. As many founders do, I overlooked a critical aspect of the business: contracts.
Preventing Employee Fraud: A Guide for Boutique Professional Service Firms
Fraud, a word that sends shivers down the spine of business leaders, is not always committed by faceless outsiders. In most cases, the culprits are the very individuals we trust – our employees.
The Imperative of Employee Documentation in Professional Service Firms
In the bustling world of modern business, the divide between product-driven and people-driven enterprises might seem subtle but carries with it profound implications.
Understanding Employee Stock Options in Boutique Professional Service Firms
When the topic of employee stock options arises, thoughts usually gravitate towards tech startups and Silicon Valley’s golden handcuffs. However, the world of boutique professional service firms has its own unique landscape.
Eight Key Questions to Ask and Answer When Structuring Ownership: A Perspective from Three Co-Founders
Starting a boutique professional service firm is an exciting journey. Here, we’ve distilled our collective experiences into eight key questions every founder team should ask and answer when structuring ownership:
IRS Section 174: Amortization of R&D Expenses and Why It Matters to You
If your firm delivers technology, engineering, design, architecture, or IT services, chances are good that you will incur R&D oriented expenses, whether you know it or not.
Navigating the Nuances of Recruiting Key Talent: The Founder’s Guide to Safeguarding Boutique Professional Service Firms
The hiring process is littered with pitfalls that could jeopardize the very foundation of your enterprise. So, what should you be wary of when bringing on a key employee?