Letter from the CEO
Over the past few months, a parade of Management Consultants have come to our offices in Sydney (flying in from different states and around the world) to have a consultation with our team about how they can differentiate themselves and their consulting businesses so they can stop being commoditized, stop chasing prospective clients — and stop having to defending their pricing and fees.
By the way, this madness has become almost an epidemic in the last 12 months or so…are you noticing the same trends? We never seen so many management consultants treading water, trying to figure out how to stand out in their market so they aren’t perceived as the same as everyone else in their competitive zone.
Most consulting firms have diverse methods for engaging new clients, based on “influence”, building relationships through networking and then working on expanding those relationships until an opportunity presents itself (that process creates a very long sales cycle).
Most consulting firms have a tendency to do a lot of free consulting upfront, dispensing a lot of their IP pre-engagement in the hope the client will recognize their value – dispensing valuable IP “pre-sale”, while other firms are doing the same, turns into a race of who can impress the prospective client the most (a very unleveraged way to fill the engagement pipeline).
Most consulting firms are in “response mode” mostly when they have inbound requests for consulting projects, rather than systematically and proactively putting in place a system to target specific clients/industries they want to engage by drawing out c-level executives without resistance (this is the “path of least resistance” we have mastered).
If you manage a Management Consulting firm or you are a Management Consultant, no longer can you grow your business trying differentiate with your brand or relying on your “warm” network.
If you aren’t a Trusted Authority® in a category-of-one, you’ll join the ranks of one-of-many.
Apply to attend our upcoming Trusted Authority Summit®, details here:
To your success,