Pro Serv Podcast by Collective 54

Episode 153 –Small Giant Merges with Industry Titan: How a 10-Person Firm Successfully Sold Itself to a 300-Person Professional Service Behemoth

In this insightful case study, we delve into the remarkable journey of a nimble 10-person professional
service firm as they navigate the complexities of selling their business to a 300-strong industry leader.

From leveraging their specialized expertise to fostering a culture that resonated with their larger
counterpart, Bart Mroz, Engagement Lead at ITX Corp., shares the key steps their small firm has taken to
position themselves as an indispensable asset, paving the way for a merger that promises to be a win-
win for all parties.

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Episode 152 – A Model for Design Sales Incentive Compensation Plans for Boutique Professional Service Firms

In this session, join Collective 54 member John Kearney, Founder at The Buyer’s Way, as he discusses
how to build compensation plans for the sales function inside a boutique pro serv firm. He will share
how the comp plans need to change as a firm migrates from founder-led sales to a part-time sales force
to a mature fully function commercial sales team. Learn how to figure out how much to pay, the proper
split between salary and commission, the measures to pay commission on, and the costly mistakes to
avoid.

 

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Episode 151 – Mastering the Exit: A Guide to Demystifying Due Diligence When Selling Your Business

Embarking on the journey of selling your firm can be as complex as it is exciting. In this session, join
Collective 54 member Jay Smith, Vice President of Sales at Integris IT, as he helps demystify the due
diligence process, ensuring you navigate these critical waters with confidence. From legal audits to
financial analysis to customer references and employee satisfaction reviews, we delve into the essential
steps every seller should undertake to secure a transparent and advantageous deal.

 

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Episode 150 – Mastering the Pivot: Reframing Your Small Service Firm’s Value Proposition to Meet Your Clients’ Real Needs and Desires

Attend this session as Collective 54 member Tony Amador, Co-Founder & Chief Client Officer at Proxxy,
outlines the crucial steps for a small service firm to reposition its value proposition based on actual
client needs and desires. This session discusses the importance of listening to client feedback, extracting
actionable insights, and then applying them to refine the firm’s strengths and offerings.

 

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Episode 149 – Why Professional Service Firms Should Never Become SaaS Companies

Many professional service firms foolishly think the path to scalability is to become a software company. However, founders of service firms make more money than founders of software firms, generate more wealth for themselves at exit, and succeed much more often.

Attend this session and learn from Collective 54 member Nathan Kievman, Co-Founder and CEO at Linked Strategies, on how you can avoid making the devasting mistake of trying to become a software company.

https://www.collective54.com

Episode 148 – Prompt Engineering: A New Skill That Professional Service Firms Need to Learn

Generative AI is transforming the professional services industry, lifting productivity levels to heights thought unobtainable. Interacting with large language models has become a required core competency. This is best done via prompt engineering.

Attend this session and learn what prompt engineering is from Collective 54 member, Stephen Straus, Managing Director at KUNGFU.AI, together with their Principal Machine Learning Engineer, Numa Dhamani.

https://www.collective54.com

Episode 147 – How to Recover from the Unexpected Departure of a Key Employee

Small service firms are overly dependent on a few key employees. The departure of one can cause much pain for the Founder and impede the progress of the firm, especially if it was unexpected.

Attend this session and learn from Collective 54 member, Phillip Acosta, CEO at GuROO LLC, on how you can prevent this trouble from stinging you.

https://www.collective54.com

Episode 146 – Brand Building in a Professional Service Firm

Your brand matters. In the professional service industry, Founders need a brand for the firm, the service offering, themselves, and their talent.

Attend this session and learn from Collective 54 member, Chad Prinkey, Owner at Well Built Construction Consulting, about how brands are built
inside small service firms, and how they help boutiques punch above their weight class.

https://www.collective54.com

Episode 145 –How Life Gets in the Way of Scaling a Professional Service Firm and What to Do About It

The personal lives of the Founders evolve as a firm advances. And the professional lives of the Founders morph as a firm matures. How can partners stay in harmony with themselves, and with each other, along the entrepreneurial journey?

This session with Collective 54 members Matt Jenkins and Nick Moretta, Partners at Other.,  shares how partners work well together and use a tool called The Commitment Letter. 

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Episode 144 – Revenue Mix: Balancing Staff Augmentation, Advisory, and Managed Services to Drive Margins

Boutique service firms often confuse staff augmentation work with advisory work and with managed services work. These are three different types of services that are marketed, sold, and delivered differently. Each has its own margin profile. Balancing the mix of these three correctly can be the difference between running a firm with good margins or a firm with poor margins.

Attend this session with Collective 54 member Ryan Buell, Founder & CEO at Sayva Solutions, and get clear on how to manage the revenue mix. 

https://www.collective54.com