The opportunity cost of spending your prime in a lifestyle business is too large. On this episode, we discuss a 3-part framework to address this issue and demonstrate how to use it.
Author: <span class="vcard">Collective 54 Admin</span>
Scaling a boutique professional services firm requires a strategy. Yet many owners have a collection of tactics and call it a strategy. Learn about how firms should approach creating their strategy.
The composition of the founding team must be carefully considered. Boutiques are often formed by a group with overlapping skills which makes it hard to scale. Learn about how the team may need to change over time if a boutique is to reach its full potential.
As boutiques scale the way decisions are made must change. A startup benefits from the speed of a single decision maker. However, during scale, the decision-making ability of the founder is diminished.
Splitting the equity in a partnership is difficult. However, there is a proper way to do it that results in lots of wealth being created. Learn how to fix broken legacy partnership agreements as you grow, scale, and exit.
The size of your market is most accurately measured by your ability to reach the decision makers in your niche. Growing a boutique is hard and the size of the prize needs to be worth the level of effort.
Designing the compensation system for Partners at boutique professional service firms requires special treatment. Partners are not like other employees and getting their pay system correct requires strategic thought.
The type of engagement you sell and deliver determines the growth strategy of a boutique. There are
two types of engagements – elephants and rabbits and understanding which you are hunting is a key to
A top reason owners fail to exit is a decline in performance during the process of selling the firm. On this episode, we discuss how to avoid making this mistake.
As your boutique professional service firm scales, recruiting shows up on the list of priorities. The days of recruiting from your personal network are over and the ability to recruit at scale separates the winners from the losers.