When I saw the January issue of Professional service company Magazine I was thrilled. Cover copy had a teaser on it to the effect that professional service companies had been surveyed and inside were their answers. I was certain that, finally, someone was paying attention to professional service companies who were striving for a successful business. It was time to hear from us little guys!
I can't tell you how surprised I was as I began to read the article. Their idea of a "professional service company" and mine were as different as night and day. I always classified a professional service company as someone like the "Mom and Pop" coffee shop around the corner, the family run produce market in town, or the 18 to 24 year old who had come up with a fantastic "gizmo" and was scooped up into a corporation as their newest genius. Let me give you a quote from the article that will clue you into its idea of a "professional service company".
That definitely was not my picture of a professional service company. I don't know too many professional service companies who average $31.5 million annually, or employ 185 people. To me, that's a pretty successful company on its way to being a corporation. We should all be such professional service companies!
Bellow mentioned are some of the challenges:-
Maximizing billable hours.
Hiring and training.
Acquiring new clients.
Planning for ongoing demand.
Waiting for client payments.
Hope this helps