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Luk’s Bi-Weekly 'Think Piece' For Consultants

Edition #55 - July 27, 2022

Dear Younes,

I hope you are all enjoying the summer right now, as I am. Maybe you can relax and take a moment to read my newest experiences and short stories.

As always, I hope I can create a bubble of calmness with my bi-weekly ‘think piece’, a place of stillness in the face of everyday stress. A chance to reflect on what really matters in your consulting work.

Enjoy reading,

Luk

The returning client discussion

Reader questions and client case studies from the consulting frontline.

The best way to grow your consulting firm is by educating your audience.

“Luk, it’s getting so hard to compete. New consultancies are popping up daily and buyers have more options than ever.” I hear statements like this daily – in my Zoom conversations with large consultancies, in the emails I receive from consulting leaders, and in the conversations I have with my clients.

Yes, prospects have more choices than ever when hiring a consultancy. However, the demand for consulting services is insanely high, despite all the noise about a recession. You just need to know how to adapt your firm's business development strategy to tap into this giant pool.

In my work with consulting firms, 'educating their audience' always is an essential component of business development success. Expertise-driven thought leadership is the only sustainable way to grow your consulting business.

Read how your business development can benefit.

Would you like to send a question for one of the following newsletter editions? Please send it to me here.

The Irresistible Content

I write a lot. Here's the update from the past 2 weeks.

The latest blog article: The Single Biggest Mistake Consultancies Make: Talking About Themselves

So many consultancies talk about how unique they are, how impressive their offering is, and how they spent the last 20+ years perfecting their knowledge and delivering extraordinary client services.

My response is: so what?

Your clients do not care about the “unique” expertise or offering. They don’t care that your list of services is longer than the Iliad. They want their problems solved! It’s as simple as that.

My other content from the past 2 weeks

TVA blog: With Improper Diversification, Consulting Firms Are at Risk to Fail

LinkedIn post: Are you nurturing your former consulting clients?

LinkedIn post: A consulting firm leader told me recently they dodge specialization.

LinkedIn post: My 6 most powerful mindset and skill changes from the past decade?

LinkedIn post: The biggest enemy of a well-managed consulting firm?

LinkedIn post: Why you should delete your long consulting service catalog.

LinkedIn post: Want to make more money in your consulting firm?

The Authority, previous edition: Edition #54

The Inconvenient Number

Evidence-based learning for consultants.

Businesses need specialists

There are many reasons a business may want to transform its operations. Currently, the top three reasons are:

1. to cut costs and improve efficiency;

2. to improve customer experiences;

3. to launch a new product/service.

60% of businesses are seeking to transform!

Unfortunately, only half succeed.

49% of businesses indicated recent transformation initiatives did not deliver on all intended outcomes.

The main obstacles are legal and regulatory challenges, difficulties integrating new technologies with legacy systems, and cybersecurity vulnerabilities.

So what point am I making here?

As the very first line indicates – businesses need specialists. A generalist type of consultancy can solve none of the three challenges preventing businesses from achieving desired outcomes.

Clearly, there is a lot of demand for transformation services. This is an opportunity for consultancies to tap into a giant market by showcasing their deep expertise and their ability to anticipate challenges. Consultancies should educate their prospects on the potential challenges and show how those challenges can negatively impact their efforts in the short- and long-term.

Source: ‘Avoiding the Perils of Transformation’ by FT Focus

My Inevitable Services

Better consultancy firms, better consultants.

🅾️ Assessing the Consulting Firm's Market Positioning

Many consulting firms make the same mistake – rushing to pitch their services without putting enough effort into their positioning.

It always seems so counter-intuitive to me. It makes growing a consulting business so much harder, such a poor positioning.

Without a strong market positioning, you do not have a proper framework to organize your priorities, client work, and business development. Moreover, your target market has no clear idea of what you do, how you do it, and why what you do is of value.

I can help you assess the consulting firm's strengths and the areas for improvement. So take a piece of paper and a pen and return to the drawing board. Get the foundation right, and the rest will follow.

My assessment takes you through a rigorous process of diagnosing, researching, assessing, and comparing the touchpoints that connect your consultancy with your ideal audience for the years to come.

If you don't assess your positioning every 2 to 3 years, you might have missed a few things on the market.

Interested? Here's a detailed info page.

🅾️ In-company workshops

Are you seeking help to build and grow the foundations for a solid business development footprint in consulting?

I can help with short virtual interventions, 2-hour virtual workshops, half-day or full-day classes (virtual or live in West Europe), or 2-day boot camps in a retreat format?

Everything is possible.

Interested? Please send me a mail at info@thevisibleauthorithy.com.

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Previous 'The Authority' edition: Edition #54

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