Building a Professional Services Firm: How to Make it Happen.

Starting a professional services firm can be a daunting task. I founded EverGreen Solutions in June 2000 as a technology consulting firm serving the real estate management industry. Starting my firm was a natural choice for me, as I had been actively involved in the real estate management industry for many years prior to starting EverGreen – first at the National Affordable Housing Management Association (NAHMA), and then serving at a real estate management firm. I knew the ins and outs of the business from many angles and was able to see what I needed as a member of the industry.

Not everyone who wants to build a professional services firm has the luxury of seeing the needs of their prospective clients from their own eyes as I did. However, if you create a clear plan for success and do your research, building a professional services firm doesn’t have to be so overwhelming.

The first step in starting a successful professional services firm is to clearly lay out what services you want to offer. The more specific you can be, the better. You also want to create a “back-burner” list of items — services that you might not be able to offer from the start, but services you believe will help you continue to build on the services you’ve already perfected.

In determining what services to offer, you must do your research and find out what your potential clients need, but the easiest way to offer those services to them, and the most effective way to price those services.

When researching the needs of your potential clients, it is helpful to attend tradeshows and conferences related to the industry in which you want to offer your services. If you know what services your competition is offering and how your competition is offering those services, you can get a good idea of your potential client’s needs.

Pricing your services is also a key aspect of building your professional services firm. If you come off at too high a price, you will find as a new company that you will have a hard time getting your foot through the door. You also run a risk when you price your services too low. A savvy business owner will look at “value perceived” – if you don’t offer your services at the proper worth, then they won’t believe that they’re getting top notch service.

By clearly defining starting goals, future goals, learning the needs of prospective clients, and learning your competition, you will have laid a comprehensive blue print to begin building your own professional services firm.