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Consulting Firms Must Become Real Businesses to Survive

By Suzanne Lowe

How to Grow Your Firm
11 Must-Dos for Creating a Highly Profitable (Highly Sellable) Firm

How to Meet the Future Head On: Be More Prepared than Your Competitors

3 Steps for Involving Everyone at Your Firm in the Sales Process

What do the following scenarios have in common?

  • The leaders of a long-established professional partnership created a pathway to a "seat at the table" for its nonrevenue-generating marketing leader. This structural framework, coupled with the firm's stewardship of a shared-accountability culture, contributed to the enterprise's growing prominence in its sector.
  • The directors of a professional association were approached by numerous respected thought leaders, all offering to co-create with them new educational offerings to help members improve their competitive effectiveness.
  • The leaders of a small global firm's marketing and HR functions teamed up on the firm's first-ever initiatives on performance improvement and organization development to formalize how professionals could better collaborate and share accountabilities. The endeavor resulted in improved teamwork to market, sell, and deliver client services.
  • Through a set of still-evolving structural and cultural initiatives, the services division of a global IT company made substantial progress toward erasing the disconnect between marketing's lead-generation activities and the firm's sales pipeline. This work has resulted in better linkage between the company's service marketing investment and its sales return on investment.

Whether it is management consulting or IT, as in the examples above, or any other professional services sector, each scenario signifies the maturation of the professional and business-to-business (B2B) services marketplace. In the economic models of yesteryear, a collegial group of like-minded practitioners could hang out a shingle–"John Doe & Associates"–and enjoy a satisfying career, untroubled by volatile economies, discerning clients, or technological shifts.


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