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Are you leaking profits?
According to annual Consult Australia surveys the majority of large firms are achieving profit margins in the order of 5-15% while smaller firms are doing better in the 15 to 30% range, some in excess of 40%. This raises two questions which we explore further below ...
Question 1 - Why are large and small firms different?
The matrix below explains some of the more common reasons.
Question 2 - What can be done about profit margins?
In consulting firms, it is all about plugging the leaks that are draining away profits. Leakage takes the form of poor contracts, undervaluing services, inefficiencies in recording costs, and poor variation management. Next month we will look at how you can double your profit margins simply by making small adjustments in these areas and without needing to win more jobs, extra clients or staff.
VSC Growth can help you achieve increased profits that enable you to invest in your people and the future of your business and return greater earnings to your shareholders. In the process you can increase the value of your equity in the firm.
By Steve Coote, Director VSC Growth – March 2012
For more information or a consultation phone +61 412 148428 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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VSC Growth
PO Box 5624 GCMC
Qld 9726 Australia,
M +61 412 148 428
steve.coote@vscgrowth.com.au
www.vscgrowth.com.au