Building a professional services business: The next step

“What should I do next?” It’s a question that haunts us all, regardless of where we are in our professional journey – whether we’re just starting out, somewhere in the middle, or approaching the end. And it’s a question I’ve been wrestling with as we continue to build our own business. Today, I want to share some reflections on the realities of building a professional services business, especially in 2025 when the landscape continues to evolve so rapidly.

The job vs the business

One of the biggest revelations I’ve had recently is understanding the fundamental difference between having a job and building a business. These two things are not the same, yet many of us confuse them, especially when transitioning from being employed to owning our practice.

When you start your own business, you’re doing both, performing the job and building the business, simultaneously. Initially, you can manage everything. There seems to be time for all tasks, and you wonder what others are complaining about. But inevitably, sometimes three months in, sometimes three years, you hit a wall where you simply cannot take the next step. Why? Because the job is taking all your time, leaving nothing for business development.

The three growth curves

I’ve come to recognise that there are three interconnected curves that determine our progress:

• Professional Maturity Curve: How your technical skills, knowledge, and value proposition develop over time.
• Business Maturity Curve: How your business infrastructure, revenue model, and operations evolve.
• Personal Development Curve: How your self-awareness, emotional intelligence, and understanding of your own strengths grow.

These three curves work in tandem. Neglect one, and the others suffer.

Revenue first, systems later

When starting a new business, there’s an almost irresistible urge to focus on systems, processes, workflows and technology. These are important, but not on day one.

The only thing you should be doing when first starting is selling and generating revenue. I wish with my whole heart I had learned this lesson when I started my business in 2015.

The most critical question is: how do you build predictable, recurring revenue streams? Whatever you sell needs to generate revenue that grows consistently. Without this financial foundation, you’ll never have the time or resources to focus on taking your business to the next level.

Emotional realities

Building a business comes with significant mental and emotional challenges. Anxiety, stress, and uncertainty are part of the journey. For me, anxiety often strikes when facing tasks where I don’t have all the answers, be it how to structure a new project, how to price it, or how to present it. These moments can be paralysing, staring at a blank screen with nothing happening for hours.

But if you’re truly meant to be building a business or practice, these challenges aren’t obstacles, they’re part of the process that pushes you forward. The passion to make a difference at scale gives you the resilience to work through these moments.

What’s next?

The most challenging question is always: what’s next? Here’s what I’ve learned: you don’t need to know all the steps to reach your destination. Having a clear vision of where you want to end up is crucial, but the path there reveals itself one step at a time.

Focus on the step you’re taking now. When you complete it, the next step often becomes evident. If it doesn’t, talk to people. Some of the most valuable insights come from conversations with others who can see what you can’t.

Challenging traditional models

Many of us had to build our businesses through cold calling and hard-won client acquisition. But do we need to perpetuate this model? Must everyone pay the same ‘blood, sweat and tears’ price we did? What if we created better systems for lead generation and prospecting at the business level? What if we invested in structured internships and training programs that give new professionals a sustainable path to success?

That said, I do strongly believe in earning your stripes. It’s crucial for appreciating and valuing what you gain and to ensure you look after it for a long time to come. But we need to figure out a new way of letting new entrants earn their keep.

Stay curious and keep raising the bar.