using levers to capture break-out growth

strategies for professional service companies

Company Expert can help you accelerate the growth of your professional service firm by pulling one or a combination of these levers


Service Development

Selling new services to existing professional service clients is often the fastest path to growth. There are minimal customer acquisition costs, and you have already earned the trust of your client.  However, even Fortune 500 companies often struggle to cross-sell their existing client base because they lack a clear strategy and incentive structure.  Implementing the right strategy will improve your sales, further entangle your clients to your firm’s services and improve client retention rates.

A Few of Our Services Include:

  • Creating an optimum strategy for service penetration with existing clients
  • Developing a lifetime economic value of a client
  • Assisting with the development of talking points for key interactions
  • Identifying personas and market segments to target
  • Creating a sales playbook for crossing clients
  • Assessing what, if any, changes need to be made to your collateral or positioning to optimize your cross-selling
  • Develop a relationship pricing strategy that encourages repeat business

Market Development

Selling existing services to new markets can rapidly increase your sales.  It is likely that your existing clients already have a natural attraction or affinity for your current service offer.  The challenge for professional service companies is to find the right opportunities to penetrate adjacent markets that have similar challenges that can be solved through your services.

A Few of Our Services Include:

  • Identifying and sizing the right markets to enter
  • Creating a strategy to quickly earn trust outside of your core market
  • Identifying personas to target
  • Creating a sales playbook for entering new markets
  • Assessing what, if any, changes need to be made to your collateral or positioning in the market

Partnerships

Forming strategic partnerships often provides you exposure to clients that are outside your core market or you have not been able to reach.  Each partnership is different; some may require payment in return for exposure to their clients, others will be looking for access to your clients.  Often partnerships are not successful because of unrealistic expectations or the partnership overly favors one firm.  The key to a successful partnership is identifying firms that will drive the right type of growth and are a good strategic fit for your firm.

A Few of Our Services Include:

  • Identifying and sizing the right strategic partners
  • Assisting in the development of a partnership agreement
  • Creating a strategy to optimize your relationship and growth with your partner
  • Developing strategies to avoid cannibalizing your core market
  • Leading partnership negotiations

Mergers and Acquisitions

Professional service companies often find it necessary to merge or acquire a company to enter a new industry or to further exploit their current market. Other businesses merge to gain synergies and to cut costs. Regardless, mergers and acquisitions is an important strategic goal for many businesses. Going through an acquisition can be a stressful time. Whether you are in the initial stages of planning or conducting due diligence, we will be able to add value along the way. Using our time-tested transaction strategies, checklists, and other tools will ensure a smooth transition and allow you to focus on getting more value from your newly acquired investment.

A Few of Our Services Include:

  • Developing an acquisition strategy
  • Preparing a professional service business for sale
  • Identifying and evaluating targeted properties
  • Assisting in due diligence
  • Negotiating with prospective buyers or sellers
  • Assessing the impact to the business model

Transformation

Developing break-through services for markets that do not exist is a high risk/high return strategy.  Some of the greatest success stories in business have been transformations, as well as some of the greatest failures.  Understanding and sizing a market that does not exist yet requires vision, research, fortitude and the ability to make decisions without having all of the facts.  These factors (which are often not found in traditional professional service firms) coupled with the cost of entry often discourage firms from using this growth lever.

A Few of Our Services Include:

  • Developing a pilot to limit scope and risk of entry
  • Identifying and sizing the opportunity for break-through services
  • Assessing the capabilities required to support the services
  • Understanding the impact to the current business model and staff

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