AN APPROACH TO INCREASING PROFITABILITY
The environment for many professional services firms is more challenging than it has ever been…
thriving… Improving marketing, business development, client satisfaction, and financial performance.
Maintaining or improving performance in (for example) profit per equity partner, given changing client and market demands and increased competition, requires a clear understanding of the “levers” of growth and profitability. But which levers will give your firm the best payback with
the least pain?
At the simplest level improving profitability is about increasing billings and reducing costs.
But how can you go about achieving this more successfully and systematically, and making sure that
your efforts across the firm are better aligned?
Some of the key aspects to this are:
- A clear approach to managing the financial health of your firm
- Understanding the key elements that build profit per partner and performance
- Pinpointing actions you can take to improve the firm’s performance in these key elements
- Understanding your current performance, and how that compares to others competing for the work you want to do, and the clients you want to work for
Together with partners from the Winning Firm Alliance, we have developed a unique approach which looks at leading indicators of future financial success, not just historic ones. Contact us if you would like to know more.