Jay P., Founder and CEO of a CPA firm, look puzzled when I asked him how he was reducing threats to his company. This was in the context of a LADRSM assessment we’d undertaken. “Threats?” he asked. “We’re doing great. Revenue up year over year, clients happy, latest technology in place. I don’t think there … Continue reading How Are You Reducing Threats to Your Company?
Ed W. dropped his jaw when his financial advisor told him how much money he’d need to ensure the retirement life he and his wife had imagined for the past twenty years. Then he brightened because he knew his accounting firm was solid. The sale of the firm would contribute the bulk of the money … Continue reading Is Your Professional Services Firm Viable or “Buy-able”?
The tension in his voice was palpable. “I do not know how to set a value based fee and I’m afraid we’ll lose our shirt with this client.” Chris is not alone in this fear. Firm owners who are determined to adopt Value Based Pricing often face a big opportunity and challenge: a client with … Continue reading How to Avoid Being Underpaid and Overworked
When he turned 10 months old, my Bernese Mountain Dog Gabe became completely impulsive and difficult to control on a leash. He loves dogs and people and he wanted to exuberantly greet everyone who came near. He’s also over 100 pounds and is very strong. My response for 3 years was to work harder and … Continue reading How Much Could You Gain by Letting Go?
“How can we get our associates to embrace Value Based Pricing? Everyone is so used to living by the demands of their time sheets.” Three professional services firms’ owners and founders asked me this question last week. I hear you! Habits are hard to break and their impact goes deep. Value Based Pricing goes deep … Continue reading Are You Afraid to COMMIT to Value Based Pricing?
This year is devoted to PROFIT I am singularly focused this year on helping privately owned, expert knowledge-based companies make a profit from every engagement (sale) and increase their total annual profit. Why? 1) Profit tells you how the company is being managed. It is the definitive measure of a company. It is critical for … Continue reading What are You Doing to Increase Profit in 2021?
I lived in an echo chamber of consultants for more than 7 years. I digested everything the leader wrote, said, and decreed. Everyone else repeated and reinforced his ideas. He created what he deemed best practices and heaven help anyone who disagreed. One day he verbally slapped me upside the head because I questioned whether … Continue reading Echo Chambers Kill Innovation and Growth
If there was only one factor, one action, one department or area that causes company growth and increased value, we would all be doing it. How many times have you thought “we’re stuck?” We’ve reached a goal and can’t seem to get beyond it. Or “we can’t even reach that goal, why not?” Companies that … Continue reading How to Boost Revenue in the 4th Quarter
Private businesses owners are telling me they feel a mix of determination and regrets. They’re determined to see their companies through the coronavirus storm, and they regret what they didn’t do when they were too busy (was that just a month ago?). No Time for Regrets The first rule is “what’s past is past.” You … Continue reading Be Optimistic for Short Term Wins
If your company revenue falls between $2 and $20 million dollars, you’ll want to choose some of these most effective business development strategies to increase revenue and profit. Don’t forget that profit is the point! You may be passionate about your work and eager to help more people (one of Trivers Consulting Group’s commitments this … Continue reading Top Ten Most Effective Business Development Strategies