Understanding Utilization, Realization, and Collections in Professional Service Firms In professional service firms—especially law firms—revenue is not determined by the stated hourly rate alone. What ultimately matters is how much of that rate survives the journey from available working time to collected cash. That journey passes through three critical metrics: Utilization  – turning available time into billable time Realization  – turning billable time into billable dollars

Managing a professional service firm is no small feat. It requires a blend of strategic insight, operational discipline, and a deep understanding of client needs. Over the years, I’ve seen firsthand how effective management can transform a firm’s trajectory, turning challenges into opportunities and potential into measurable success. Today, I want to share why firm management importance cannot be overstated and how it can be the key to unlocking your business’s full potential

In today’s fast-paced market, staying ahead means making smart decisions quickly. I’ve seen firsthand how the right guidance can...

Running a business is no small feat. Every day brings new challenges and opportunities, and navigating them requires more than just hard...

Whether serving as a fractional CFO, operational excellence consultant, or comprehensive management consultant, Wood Consulting Group brings the expertise, values, technology tools, and commitment necessary to help organizations maximize their financial and strategic value. Their bold mission to create $2,000,000 of measurable value for 500 clients by 2030 reflects not just ambitious goals but unwavering confidence in their ability to deliver exceptional results for every cli

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At Wood Consulting Group, we’re passionate about helping veterans succeed in their post-service lives. For Andrew Wood , supporting...

I had an incredible experience at the Startup Maine Conference , where I presented "Financial Modeling Made Easy 3.0 " The energy and...

In the quest for excellence, the final stages of any project can be the most critical. As a management consultant, I often emphasize the...

When I traveled to Maine long before my consulting career began, a friend handed me a wilderness survival guidebook. "You'll need this,"...