Professional services encompasses a wide range of commercial businesses, but they are all the same in many respects. Professional service is about employee utilization, be it through engineering, consulting, medical professionals, etc. The key is to focus on job profitability, and being able to generate and interpret the information.
In effect, professional services is manufacturing with people. How long did it take, how many people did it take to do it, how do you allocate fixed costs to a job so we know true profits? All too often, professionals believe that their business knowledge goes beyond their own level of expertise, ultimately with disastrous results. It takes great strength of ego to face this reality.
Yes, we’ve been there. Yes, we’ve done that.
At Momentum Advisors, we help professional service providers see the realities of how similar their business is to manufacturing and carries similar challenges. We provide them with the right tools for both collecting data about their business and analyzing it. We help providers see where their challenges are, what isn’t working, and how to make profitable business decisions for their future.