One of the benefits of PSMJ PRO membership is a subscription to PSMJ’s namesake monthly journal. Every issue is packed with action-oriented business success tips for AEC firm leaders like you. These tips come directly from the latest issue of PSMJ’s journal. Not a member yet?Join today!
See something here you want more info on or maybe even a tip that you just completely disagree with? Let me know.
Financial transparency is only valuable if employees understand what they're seeing
Sharing numbers isn't enough. The best firms translate financial performance into information that employees can easily understand through simple visuals, personal context, and clear explanations that help every team member understand how their work impacts business results. As an example, don’t just share the firm’s direct labor multiplier. Share the trend on the metric over the past 12, 24, or 36 months and explain why it matters.
Your firm's value is determined long before you decide to sell.
Two firms can have identical revenue and profit margins yet command dramatically different valuations. Buyers pay premiums for predictable growth, diversified clients, strong leadership pipelines, robust project management, and scalable systems…not just EBITDA. Build a firm that's transferable, not just profitable.
Great risk management starts before there's ever a claim.
The best firms don't wait for problems to happen. They build cultures that prevent them. Share lessons learned, train continuously, know your contracts inside and out, and focus every difficult conversation on solving the problem rather than assigning blame. Prevention is always cheaper than litigation.
Younger professionals aren't looking for an easier job…they're looking for a meaningful career.
The next generation wants purpose, development, and a clear path for growth. Firms that can connect daily work to a larger mission while investing in learning and mentorship will have a distinct recruiting advantage.
If you want to grow faster, stop expanding in every direction at once.
When entering a new market, change only one variable at a time. Expanding geographically? Stick with the clients and services you already know well. Adding a new service? Focus on markets where your relationships are strongest. Sustainable growth usually comes from adjacent opportunities…not giant leaps into the unknown.