Be More Profitable

Source: Partner Insights

Tips from consultant August Aquila:

• Be selective about the clients you serve. Trying to be something you are not will make you less profitable.
• Develop cost systems to determine which clients are profitable and which are not.
• Pay your people on the basis of results, not billable time. Use client feedback, success in solving problems, retention of clients, and the like to measure people’s value.
• Clients are most interested in solutions to problems. Provide more value, and link your charges to it. This means you bear some risk.
• Delegate. You will be more profitable if more work is done at a lower level in the firm.

For the complete article, click here and select the article Ten Ways to Increase Profitability.

From Partner Insights, Aquila Global Advisors, LLC, October 23, 2007, www.aquilaadvisors.com.