Your Firm is Defined By the Services You Don't Offer

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Your Firm is Defined By the Services You Don't Offer

Most executives take great pride in showing off a long list of services and clients. Somehow they feel it is an indicator of their experience and competence. But most prospective clients have the opposite reaction. Just like the restaurant that insists on putting everything on their menu, the professional services firm that stands for everything ends up looking like they stand for nothing.

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How to Prosper in the Era of Hyper-Competition

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How to Prosper in the Era of Hyper-Competition

To thrive in a world where seemingly everyone is competition, trade the energy you put into matching competitive offerings for a more single-minded business strategy focused on differentiated, inimitable solution sets. A black box will smash a white box every time.

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Is Your Firm Incentivized to Be Inefficient?

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Is Your Firm Incentivized to Be Inefficient?

Why are firms like advertising agencies routinely criticized by clients for lacking the tools and practices that would make them more efficient?  The answer in large part is that there are no real economic incentives in place to make these things happen.  And if there's one thing economists agree on, incentives matter.

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Why You Should Always Provide Pricing Options

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Why You Should Always Provide Pricing Options

When you equip clients and prospects with options, you’re not only providing immensely useful decision-making context, you’re also fundamentally altering the dynamics of the agency compensation game. Offering different options changes the dialogue away from “How many hours will this take to “Which of these options would work best?” Showing different combinations of program elements and deliverables keeps the conversation focused on what clients really buy: outputs, not inputs.

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Pricing Waterfalls, Cliffs, Fences, and You

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Pricing Waterfalls, Cliffs, Fences, and You

Has your firm ever run into a pricing cliff, cascaded off a pricing waterfall, or put up a pricing fence?  Chances are, no.  That's because pricing in most professional firms like agencies is an oversimplified afterthought that consists of adding up your costs and calling it a price.  But in client organizations, pricing is a core competency -- separate from finance -- that navigates through the minefields of pricing psychology to optimize profit margins for their company.

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Why Your Firm Has An Incomplete Business Model

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Why Your Firm Has An Incomplete Business Model

If you’re like most agencies and other professional firms, you’re likely missing a critical component in the model upon which you have built your business.  Here's why having a cost structure is not the same as having a revenue model.

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