Is Growth Cutting Your Profitability?

Advocating Professional Services Excellence

‍“Ask yourself, if your company doubled in size would you thrive or would you feel like you’re dying trying to keep up? Most growing professional services companies don’t prepare for growth and ironically see drops in profitability, and the team is overworked. That is 100% preventable. Learn from the ones that scale up smoothly - they put the processes and tools in place that can handle growth. If you’re growing you should do that too. ”

‍-Matt Lentzner, CEO, Bizinta and SaaS Industry Expert

Quick Reads:

1. Q&A with Matt Lentzner, CEO, Bizinta - Is Growth Cutting Your Profitability? (2 mins)

2. Growth Case Study - Kaiser Consulting - Innovation and Growth (2 mins)

3. Are You Ready to Receive Fast Client Payments?

4. Self-Learning Quiz - How Good Is Your Invoicing? No email required (2 mins)

Featured Q&A With Matt Lentzner‍

Question: Matt, why do small and medium sized consulting companies see profitability decline as they grow?

Answer: Most imagine that as their size and revenue grow so will their profitability - here’s a simplified image of what I mean.

Chart 1

BUT, the harsh reality companies face as they grow is an extended, costly, painful period of time where they become less profitable - it looks like the image below - and it is miserable, so avoid it - as it can be prevented.

Chart 2

It is frustrating to see this happen time and again and the cause of it is simple - the tools and processes that worked when you were smaller do not support scaling. So, your profitability dips with growth - staff is overworked, invoices take too long to send and there are errors - so many errors, reporting is not reliable, and you do not know exactly who’s working on what. These are just a few examples that cause the dip in the chart. When companies feel the pain and heaviness of that dip then they reach out to Bizinta, where we fix it and put them back on track like we did for Kaiser consulting in the story below. So my advice is, if you are growing, consult the Bizinta team before your profitability is affected and we’ll keep your business's trajectory looking like chart 1.

Case Study in Growth: Kaiser Consulting Was Weighed Down By the Demands of Growth  

Ohio based Kaiser Consulting is growing because they anticipate and deliver innovative new services that meet current market demands. With growth, many of their old processes and tools were inadequate and slowed them down. So, they modernized their operations to enable smooth growth.

Their changes were in line with their values which shows by their high rating on Glassdoor. The new tools they deployed supports their people-friendly culture by saving the staff time and taking the pain out of many operational tasks like timekeeping, invoicing, and reporting.

Lori Kaiser the CEO of Kaiser Consulting shares that it takes half the time it used to in scheduling and sourcing for their projects.

Read the case study about Kaiser Consulting.

Listen to this podcast on how Self-Awareness Can Help You Level-Up Your Business - featuring Lori Kaiser. They discuss steps to take your business to the next level.

Find out If You’re Ready to Receive Payments Faster

‍If you’ve automated and streamlined your invoicing and timekeeping processes using Bizinta, then you’re ready for the latest payment trend named automated corporate payments. Your clients can choose to pay your invoices automatically with saved payment information. Plus, it gives your customers more payment options with credit cards and ACH transfers. This is one less step in completing your invoicing and receiving payment faster. Schedule a 15 minute discovery chat with us to learn if your invoicing process is ready for faster payments here - and do not worry, this isn’t a sales discussion.  

Easy Self-Assessment - Is Your Invoicing Efficient? Find Out in 2 Minutes.

This short assessment will tell you how efficient your invoicing process is - having a streamlined invoicing process is fundamental to scaling your business. Don’t worry, it is easy to fix if your score is low.

No email required -  3 quick answers - click submit for result. Take Quiz Now.

REMEMBER - Even if your company invoicing involves customization and approval reviews, it should all happen quickly and correctly each month - it should take a day or two.

About Bizinta

‍Bizinta is a leading provider of web-based solutions for SMB Professional Services companies across all industries. Our SaaS solution makes it easy for customers to grow by streamlining many vital routine operating processes and to make informed decisions using real-time reports. More at www.bizinta.com.  

Share This: Bizinta named a Software Advice FrontRunner for Time & Expense Software! https://www.softwareadvice.com/psa/time-and-expense-comparison/#frontrunners

Questions about Insights? Contact us at: insight@bizinta.com

‍

‍