Thoughts on the Guide 02 Module …

Home Forums Guide 02 – The Fundamental Components of Value Thoughts on the Guide 02 Module …

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October 5, 2012 at 8:48 pm #401

Dom
Key Master

I deliberately placed this Guide early on in the Five-Year Entrepreneur Series as the core topics covered within it – once understood – really are the bedrock for smart planning and decisions thereafter. You see, at its core, running a professional service business comes down to some simple economics. Clearly, you need to be making a profit and growing your profitability. But, you knew that already right? The more interesting aspect is the three key drivers that lie behind professional service firm profitability; namely, margin, productivity and leverage. Understanding these components – their contribution and interaction – is pivotal to building a successful firm. Once properly understood, you can then monitor, review and manage these elements. The reality is this … those companies that do are already at a significant advantage over others … and almost inevitably more successful.

Keen to hear all questions/thoughts on this topic of profitability … particularly in relation to the checklist I offer for improving profits across these multiple aspects.

  • This reply was modified 5 years, 11 months ago by  Dom.
  • This reply was modified 5 years, 11 months ago by  Dom.
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