Professional Services and Partnerships
Professional Services and Partnerships have unique benefits and challenges compared to product-based companies and corporations.
Time literally is money in these businesses, and to be competitive you must maximize your competitive advantage and your ability to protect and grow your profits – particularly in today’s price-sensitive economy.
Professional services firms attract some of the most intelligent people in the market, who come wanting to deliver technically elegant solutions and be loved by their clients.
While services firms and partnerships generally have a great deal of autonomy, for better and for worse, the challenge with innovation and transformation in most services firm structures and cultures can be formidable.
In partnerships, middle management typically owns the majority of the business and leaders are (usually) elected for a set, relatively short, term by other partners whom the leaders will then have to manage as employees, shareholders and constituents… so driving improvements across the business, especially a financially successful one where there is initially little appetite for change, can be a real challenge!
Leaders must often be a practitioner, executive, manager, leader and politician – all while trying to get a diverse group of individuals with a complex set of interests and needs to come together and move the business forward collaboratively in an aligned way.
It’s not an easy task, but the prize is considerable for the ones who get it right.
The firms who succeed in aligning their partners and building a more client-centric firm maintain a considerable competitive advantage and have the greatest opportunity to outperform their rivals in the market. Because, honestly, most services firms don’t and probably never will, so they have a unique opportunity to outperform their rivals.
At Mayfair Ranch, we understand the levers that drive progress and profit in services firms and appreciate the nuances and complexities of driving innovation or change within partnership organizations.
We help services firms assess and improve their costs of sale and customer acquisition, establish and/or implement guidelines and protocols for client and project selectivity based on return on investment, and help them win work and retain clients more effectively and efficiently… and negotiate better terms and conditions on their client engagements.
We help optimize profit-focused pricing strategies, we integrate value creation and value defense mechanisms into the sales, negations and client services satisfaction training we deliver to provide your organization with a holistic approach to client development and profitability.