Pro Serv Podcast by Collective 54

Episode 119 - How a Brave Founder of a 20-year-old HR Firm is Reinventing Himself

Running a lifestyle business can lull a Founder to sleep. The days, weeks, months, and years pass by as you are “doing just fine”. Then, one day, you are in your mid-50s, and realize you cannot retire, and after all these years, you don’t have much to show for your life’s work. What then?

Listen to this episode and learn how Collective 54 member, Tad McIntosh, is dealing with this head on. Tad shares how after 20+ years he is trying to convert a lifestyle business into something he scale, and sell, someday. Members who attend the private Q&A with Tad can ask him the tough questions directly and learn from their peers, many of whom are in the same situation as Tad. 

https://www.collective54.com

Episode 118 - How Canada’s Fastest Growing eCommerce Agency Scaled Quickly Through

The Pro Serv Podcast often discusses how to exit a professional service firm. But, on this episode, we flip the script and discuss how to scale by purchasing professional service firms.

Collective 54 member, Colton Hathaway, shares how Northern Commerce was created through a merger, and how they have grown by acquiring other firms. By listening to this episode, you will learn how you might do the same. If you are a member, be sure to participate in the private Q&A with Colton and ask him the specific how-to questions you will have after listening to this show.

http://www.collective54.com/

Episode 117 - How a Staffing Firm Productized a Service and Is Changing Lives

Productizing a service can lead to fast growth and large scale. But, it seems scary and many Founders of service firms do not know where to start.

Listen to this episode, and hear how Collective 54 member, Nish Parikh, funneled cash from his staffing firm into the development of a product called Talent Arbor. As a result of this innovation, Nish is helping those on the Autism spectrum build rewarding careers. Members are invited to attend the private Q&A session with Nish and hear how leading with empathy drives innovation and impact.

http://www.collective54.com/

Episode 116 - How to Increase a Founder’s Income by Increasing Yield

The yield of a boutique is the ultimate measure of productivity. Yield is simply the average fee per hour times the average utilization rate. For example, $400/hr x 75% utilization rate = a yield of $300/hr. Increase yield and make more money. But, how? One effective technique is to tech-automate service delivery.

On this episode, Collective 54 member, Ehsan Mirdamadi, explains that small service firms can now afford to tech-automate service delivery by leveraging a fractional CTO (Chief Technology Officer). Listen to this episode and learn how the fractional executive model has entered the technology office. Many Collective 54 members use fractional finance, HR, IT, and Legal executives. Now, they have the opportunity to leverage fraction technology executives. And those that do will see an increase in yield. Members who attend the exclusive Q&A session can explore with Ehsan how to apply this to their firms.

http://www.collective54.com/

Episode 115 - How a Software Consulting Firm Succeeded by Planting a Flag in Middle America

In a post-Covid world, does geography still matter? Should you pursue clients, and employees, based on where they reside? It used to signal to clients that you were legit when your name was on a building downtown. Is this still true?

Listen to this show and learn how Collective 54 member, Ashok Sivanand, thinks geography is still a mission-critical element of strategy, but not for the reasons you might think. He moved to Detroit and is building a firm based on mid-western values. And it is these values, concentrated in this geography, which is contributing to his success. Members of Collective 54 can attend the private Q&A with Ashok and hear from him his remarkable story which started with him driving a forklift in a factory during the graveyard shift. 

http://www.collective54.com/

Episode 114 - How the Founder of a Marketing Agency Dealt with Key Employee Risk

Key employee risk is a very real threat to founders of boutique professional services firms. Small, people-driven businesses are overly dependent on key employees. If a key employee resigns, the pain inflicted on the owner is intense, and the financial impact on the income statement is large.

Listen to this episode and hear how Collective 54 member, Kimberly Kraemer, suffered the loss of a key employee and how she survived it. In addition, hear how Kim re-engineered her firm to prevent this from ever happening again. Members are invited to attend the private Q&A with Kimberly and ask important questions. Kimberly does not hold back and we can learn much from her experience.

http://www.collective54.com/

Episode 113 - How a Regional IT Services Firm is Leveraging a Client Advisory Board

Boutique professional service firms need to listen to their clients intentionally. One effective way to do that is a client advisory board.

In this episode, Collective 54 member Luke Johnson, shares how he launched a client advisory board recently. Luke shares the early benefits, some mistakes to avoid, and how, exactly, he runs his. Listen to this episode, and if you are a member, attend the private member Q&A, and learn how a client advisory board can help you. 

http://www.collective54.com/

Episode 112 - How A Consulting Firm is Scaling by Generating Revenue From Multiple Sources

Generating revenue from sources other than the billable hour is a key part of scaling a consulting firm.

In this episode, Collective 54 member, Robin Way, shares how he is generating revenue from training products, licensing tools, and generating reports. Listeners of this episode will hear from Robin how he went from a single source of revenue- the billable hour- to four sources of revenue. Members who participate in the private Q&A with Robin will get to bounce their ideas off of him and get his advice.

http://www.collective54.com/

Episode 111 - The Beginner’s Guide to the QOE (Quality of Earnings) Report

Someday you will sell your firm. After all, none of us can run our firms from the afterlife. When your time to exit comes, you will need to know what your firm is worth. The tool often used to calculate a purchase price is called a QOE, or the quality of earnings report.

In this episode, Collective 54 member, and QOE expert, Elliott Holland, helps founders understand what a QOE is, when it is needed, who creates one, how it gets used, and why founders need to get familiar with it. By listening to this episode, you will know what you need to know about the QOE. Members attending the private Q&A with Elliott will get to ask him questions about using a QOE for their firms. 

http://www.collective54.com/

Episode 110 - How a Software Development Firm Structured an Equity Incentive for a Key Employee

Hiring, or promoting, a person into an executive role often requires the Founder to offer an equity incentive to the key employee. This requirement drives a need to understand what the firm is worth today, and how much of the future value should be shared with the key employee.

In this episode, Collective 54 member, Michael Daoud, discusses how he valued his firm, and how he structured the equity share with the key employee. By listening to this episode you will learn when to use an appraisal firm, when to do-it-yourself, and get introduced to a new tool, The Firm Estimator. Members who participated in the private Q&A with Michael will hear the details of the offer, and the negotiations. 

http://www.collective54.com/