Investor Steve Anderson, who has successfully built and sold two IT services companies, and advises many others, lays out the steps he takes to assess and improve the performance of professional services businesses. He goes into specifics about his process and explains why companies often underperform.
For him, a big ingredient in the secret sauce is for the management team to make sure that they have time to step back and look at where the company is headed.
“A company needs to have goals, it needs to have a strategy and it needs to measure how it is doing against that.”
Being totally focused on solving today’s problems is likely to lead to a business not fulfilling its potential. “The management team needs to delegate so they can focus on driving the business forward.”