Legacy structures

Today’s problems were yesterday’s solutions. Many of the things you do every day in your business, assumptions you make and decisions you evaluate positively, are legacies of the past. You are doing them the way you do because on day one you had a problem you had to solve, and … Continue reading

admin, October 17, 2019

3 Things You Might Not Know About Your Business

You started a small business, or you manage one today. You know everything there is to know about it. Or do you? Let’s explore three aspects of your business that you may have not thought about. These are: who you have become in your clients’ perception, who your real competition … Continue reading

Adina Luca, September 26, 2019

Time for Monthly Cashflow Projections

September is here, things are still looking weird, so now it’s the time to switch to emergency short-termism. In other words, cashflow monitoring on a monthly basis. We spoke about the particular case of the summer 2019 and the need for scenarios and reviewed projections before for UK small businesses. Whether or … Continue reading

Adina Luca, September 20, 2019

How I spent the summer of 2019

If you are an owner of a UK-based company, chances are you may be spending your summer days worrying if things will take a downturn this autumn. If this is the case, it may be the time to do some scenario planning. Even if you don’t employ others, but you … Continue reading

Adina Luca, August 16, 2019

Consulting principles – what to expect when working with Profitable Insights

I help clients’ businesses become more profitable, using financial and management accounting amongst other things.  I use some principles to guide my advice which I think are valid, no matter who you are, or the type of business you are running.  In my experience, if you bear these principles in … Continue reading

Adina Luca, March 13, 2019

Scaling up through people

Scaling up in the right way is the key to the growth of your business. In B2B professional services, your growth capacity lies in your people’s skills. Unfortunately, scaling up through people is the most difficult thing to get right. You are dealing with the most unpredictable and sensitive resource … Continue reading

Adina Luca, November 25, 2018

Scalability criteria

In the area of professional services, scaling up in the right way is the key to the growth of your business. Here we refer only to B2B businesses, i.e. when you sell your services to other companies. You won’t find a single recipe for how to scale up, because it … Continue reading

Adina Luca, September 8, 2018

Three pitfalls reframed

When you meet a lot of people from the same professional group, you end up hearing some similar stories. In the area of professional services, we have met enough small business owners to be able to identify a number of shared experiences. Their success stories differ wildly – there is … Continue reading

Adina Luca, June 2, 2018

When in doubt, ask your clients

In collaboration with Jeanne Monchovet (http://www.olystix.com/) Small business selling to other businesses (B2B) do not do regular and consistent client interviews to check their service level and get feedback. The feedback they get is mostly based on a couple of clients’ comments received during account management visits. The assumption is … Continue reading

Adina Luca, April 7, 2018

Stepping up the costs

As usual, we’re talking here about small businesses in professional services, because we like to help them grow and thrive. Their usual pattern is to start life in the entrepreneur’s own home, then move out to an office, and then to a bigger office. Every step up increases the cost … Continue reading

Adina Luca, January 29, 2018

Should I move offices?

As usual, we’re talking here about small businesses in professional services, because we like to help them grow and thrive. Their usual pattern is to start life in the entrepreneur’s own home and then move out to an office. But when is a good time to move to an office, … Continue reading

Adina Luca, November 19, 2017

Don’t brainstorm your strategy

Exciting consultants are like fortune tellers. They take a quick look at your market, cast a brief glance over your competitors, interview a couple of people in your organisation – and then, using their mysterious powers, they tell you what your future looks like. Then they might rush to ‘facilitate … Continue reading

Adina Luca, September 3, 2017

Your business is bigger than you are

Here’s the scenario. You started your business some time ago, before or during the last recession; you heroically survived cash shortages at the beginning and have personally shouldered every burden ever since. You mainly sell services in a knowledge-intensive industry – your area might be consulting, or executive search, or … Continue reading

Adina Luca, July 23, 2017

Who is showing you the money?

Here’s the scenario: you have a business in professional services and employ a number of people. You’ve been successful for a while and are still growing steadily. One of your employees has the role of ‘finance and admin manager’, and this person is someone you trust to take care of … Continue reading

Adina Luca, May 16, 2017

Hire for cost or hire for skills?

In the world of professional services, some entrepreneurs in charge of small businesses are in the habit of hiring young and inexperienced people as part of their growth strategy. They always envisage finding someone who’s talented, eager, bursting with potential – and also very cheap. If you ask why they … Continue reading

Adina Luca, February 15, 2017

Telling the time

A lot of entrepreneurs do their own calculations, which often means making very simple, rule-of-thumb estimates. If a consultant starts poking their nose into such estimates, won’t it undermine an entrepreneur’s ability to make quick decisions? This wish to avoid external interference gave rise to the saying, “I don’t need … Continue reading

Adina Luca, November 4, 2016

When percentages rule

Here’s the scenario: your business is a knowledge-intensive professional services company. Let’s say you teach whale-spotting skills to corporate employees in London. Either you employ specialised staff or you outsource delivery to them. As part of the service you need printed materials, such as whale-spotting books and checklists. What lies … Continue reading

Adina Luca, September 19, 2016

Be aware of your own habits

If you’re a small business owner and you find yourself stuck in a no-growth path, it might not be the market that’s to blame. If your costs are too high or your team isn’t delivering as expected, doing what you do best could actually be your downfall. Marketing people who … Continue reading

Adina Luca, July 9, 2016

Misleading Reports

When you are the owner of a business, even if it is just a small business, how you look at the data and which information you use in your decision making is key to the health of your business. You do collect data, whether you are aware of it or … Continue reading

Adina Luca, May 2, 2016

Should I project revenue growth?

Assuming you are making financial projections regularly for the professional services business you own and manage, should you project an increase, no increase, or less every year? Most entrepreneurs have a habit of projecting higher revenue year on year. It makes sense: they want their business to grow. Get somewhere. … Continue reading

Adina Luca, March 24, 2016