Professional and technical services in Australia have grown by close to 8% per annum over the past 3 years according to the latest BRW (Oct 17 to Nov 20, 2013). This is extremely positive, and yet I know many businesses in this industry have not seen this level of growth.
Interestingly and importantly, more than half of the companies in the Fast 100 are to be found in the professional and technical services industry sector. Whilst many businesses have struggled to find growth in these challenging times, the Fast 100 companies have excelled.
As Phil Ruthven goes on to say in his column, some of these Fast 100 businesses will be displacing the larger laggards in the Top 1000 list sooner rather than later.
The question for professional and technical services companies that haven’t grown by 8% over the past 3 years is “do you know why not?” And once you know that answer, what are you doing about it?
Tactical, reactive and gut-feel responses won’t improve your performance. You need to understand and address your issues at a core strategic level.