By Tony Tiernan
In tough times, many consulting firms revert to two tactics that appear essential but actually dig them deeper in the hole both during and after a downturn. The first is selling work at which they cannot be truly great, and the second is pursuing clients that do not share their values.
Both tactics can help fill the short-term revenue void. But the consequences can be severe: unhappy clients who will not come back, a damaged reputation in the marketplace, and disaffected staff who will leave at the first opportunity. All of these chickens will come home to roost when the upturn comes, as it will.
The pressures to make these compromises are certainly understandable. But they can irreparably damage a consulting firm's core value-creating identity—the often unwritten principles about what the firm does (the business problems it chooses to own and solve) and the way it operates (the meaning and purpose that drives its business—the difference it is trying to make in the world—and the values that shape its relationships with clients and staff).
A consulting firm that does the hard work of discovering and articulating its identity can use it as a tool to shape the firm's three core business processes: developing clients, developing people, and developing ideas. The result is an organization that is "all of a piece"—inherently differentiated and coherent while retaining the flexibility that professionals value. That is the foundation for a powerful professional services brand.
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