One of the most competitive industries to be in is professional services. Although knowledge, experience and competence can be differentiating factors, they take a while to build. To add, it is a very personality-centric industry too. While starting out is easy, keeping the engine of growth revving can be challenging. In this post, we’ll discuss the steps you can take to tackle three of these growth challenges. They may differ according to the type of professional services you offer. So, apply them accordingly.

1. Be the voice of authority

Unlike a physical product, it can be difficult to ‘spot’ the differentiating and unique element of a professional services firm. To overcome this, it is important you pick your growth niche early and nurture it. For example, if you are an accounting firm, you might want to focus on cost management accounting for small businesses. But this doesn’t stop you from providing general accounting services. With marketing strategies like inbound marketing today, it is easier now to be the voice of authority in a specific field.

2. Automation

Your clients are your biggest, and perhaps only asset. Hence, like most treasured assets you need to look after them well. Your goal is to move them from loyalist, well-paying clients, then to advocates. The process of staying in touch with clients can be time and resource consuming. But by automating your CRM it as easy as plan, set and go! Be they emails or newsletters, it will be in the inbox of your customers at regular intervals.

3. Getting your fees right

It’s an issue with various thoughts and opinions. Should it be hourly, project or retainer basis? Unfortunately, there isn’t a clear cut answer to this. They all work although with different degrees of success across the different types of professional services. As you grow the business and size of work for clients, it is critical to get the cost structure right. Using this as a basis, you can then work out the best fee structure.

Are you ready to take your business to the next level? Get in touch today.