Struggling to scale your corporate finance advisory firm? This was the number one problem I had. 😣
I have run three boutique advisory and investment firms. Often, the lack of junior support left me feeling stuck and frustrated. 🙄
After 15+ years in the business, I 𝗱𝗶𝗱𝗻'𝘁 𝘀𝗽𝗲𝗻𝗱 𝗺𝘆 𝘁𝗶𝗺𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝘃𝗮𝗹𝘂𝗮𝗯𝗹𝗲 𝘄𝗮𝘆.
I should have focused on sourcing business and speaking to clients.
Instead, I spent the evenings researching the market, creating long lists, and making presentations to finish the client projects on time and in the necessary quality.
𝗬𝗲𝘁, 𝗜 𝘀𝘁𝗶𝗹𝗹 𝗱𝗶𝗱𝗻'𝘁 𝗵𝗶𝗿𝗲 𝗲𝗻𝗼𝘂𝗴𝗵 𝗮𝗱𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝘀𝘂𝗽𝗽𝗼𝗿𝘁. 𝗛𝗲𝗿𝗲’𝘀 𝘄𝗵𝘆:
𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗼𝗺𝗺𝗶𝘁𝗺𝗲𝗻𝘁: Hiring is a big commitment. Salaries are relatively high and it’s a significant investment for a growing firm.
𝗧𝗶𝗺𝗲 𝗗𝗿𝗮𝗶𝗻: Finding the right person takes time, and training them to work the way I do takes even more. ⏳
𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗩𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆: This business is very volatile. Some months are extremely busy, while others are slower, making planning difficult.
❓How is it going for you? Are you facing similar challenges with your firm?
Please share your experiences and strategies that have worked for you.
I guess my „strategy“ was starting (Super)Analyst 😀