Linkedin Podcast Spotify Youtube Amazon
APPLY
LEARN MORE
MEMBER LOGIN

Pro Serv Blogs

Pro Serv Blogs

Why You’re Not Getting Paid On Time and What to Do About It

/

As an owner-operator of a small service firm, whether it’s a consultancy, marketing agency, IT service provider, or any other service-oriented business, you’ve likely faced the frustrating challenge of chasing down late payments. It’s a widespread issue that disproportionately affects small service firms, and it can significantly hinder your cash flow and business growth. In this blog post, we’ll explore why this happens, how to diagnose and measure the extent of your collections problem, and offer both proactive and reactive strategies to improve your payment timelines. Plus, we’ll show you how joining a mastermind community like Collective 54 can make a difference.

Pro Serv Blogs

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.

Pro Serv Blogs

Risk Management for Professional Services Firms

/

In today’s unpredictable environment, ensuring risk is thoughtfully managed is a critical yet often overlooked component of the grow/scale journey. While large firms have dedicated risk management teams, small business owners/operators often juggle multiple roles, leaving limited time to design and implement a risk management framework. This guide walks you through a rightsized approach to risk management, making it easier to protect your business and its stakeholders.

Pro Serv Blogs

Government Contracting and the New Administration

/

Politics and parties aside, the US Federal Government will continue to operate as Fortune 1 and procure more “stuff” from industry than any single purchaser in the world.

What does the future hold? What should you expect? What are the trends and considerations?

The future looks bright. The next four years should be beneficial for companies looking to sell their wares in the government space. Whether a Professional Services / Management Consulting firm or a services company specializing in product support you should consider expansion and investment in this space.

Pro Serv Blogs

From Cash-Strapped to Cash-Flow Positive: The Transformation of an IT Consulting Firm Owner

/

Once upon a time, in the competitive landscape of boutique professional service firms, there was an owner of an IT consulting firm who became a cautionary tale of rapid growth without the backbone of sound financial management. This is the story of Alex, whose journey from the brink of financial ruin to a model of fiscal responsibility embodies the adage, “Growth is not just about numbers; it’s about sustainable strategies.”

Pro Serv Blogs

Lessons Learned to Avoid the Dumb Tax

/

Running a boutique firm is not for the faint of heart. For years, there were not great resources to guide us, so we did what we do as pioneers; we figured it out. Many boutique firms start as smaller, leaner versions of larger firms. Often with the idea that we can improve on the traditional approach of “big business.” Yet, a boutique has its own distinct challenges and requires a unique mindset. It’s essential to know the differences between a boutique and a large consulting firm. What follows are eight key lessons I’ve learned. My friend Greg Alexander uses the term “dumb tax” a lot. Most of my recommendations come from paying that tax too often.

Pro Serv Blogs

The Perilous Path of Debt-Fueled Growth: A Collective 54 Member’s Journey to Redemption

/

The allure of rapid expansion can often blindside the most astute of entrepreneurs. This tale unfolds the harrowing journey of a Collective 54 member, a spirited founder of a social impact consulting firm, who found himself ensnared by the seductive yet perilous embrace of debt to fuel his firm’s growth. His story serves as a cautionary tale and a beacon of hope for those navigating the tumultuous waters of business expansion.

Pro Serv Blogs

The Evolution of a HR Consulting Firm Owner: From Domain Expert to Savvy Businesswoman

/

Once upon a time, in the bustling world of human resources, there was a dedicated HR consultant named Sophia. Sophia had carved a niche for herself in the travel industry, providing tailored HR solutions to companies that were as diverse as the destinations they promoted. Her firm was her pride, built on a foundation of extensive domain knowledge and a passion for people management. Yet, despite her expertise, Sophia felt a growing realization that understanding human resources was only one part of the equation to business success.

Linkedin Podcast Spotify Youtube Amazon

What is Collective 54?

NETWORK
CONTENT
DATA
COACHING
EVENTS
SOFTWARE
TESTIMONIALS

RESOURCES

BLOG
VIDEO
PODCAST
BOOKS
FIRM ESTIMATOR

CONTACT

APPLY
LEARN MORE

SUBSCRIBE TO
COLLECTIVE 54 INSIGHTS

© 2024 - Collective 54 LLC All Rights Reserved.