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Biggest Challenges for Professional service companies

New Member

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!

Topic starter Posted : 10/03/2017 4:37 am
New Member

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

Posted : 13/10/2020 11:50 am
New Member

In the period we are living in right now, the biggest challenge professional services are facing is transitioning from in-office to remote working across different departments. Presently, different companies are adopting new ideas to meet the needs of their workforce as well as to attain their business-related goals.

Posted : 01/02/2021 1:42 pm
New Member

If you run a professional services company, here are the five most common challenges you might be facing:

  1. Maximizing billable hours
  2. Hiring and training
  3. Acquiring new clients
  4. Planning for ongoing demand
  5. Waiting for client payments
Posted : 13/09/2021 1:08 am