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

EDITION #69

MARCH 1, 2023

Dear reader, 

Here comes the 69th edition of my newsletter. 

The highlight of this newsletter is my piece on the lessons I've learned while working with an investment firm that was interested in acquiring a consultancy on their due diligence. I strongly urge you to read and internalize these lessons as they speak not only to what potential investors are looking for but the factors that determine the overall health and business growth projection of companies in the consulting industry.

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

FEATURED ARTICLE

4 Lessons Learned From A Consultancy Due Diligence

I recently assisted an investment firm with the due diligence of buying a consultancy.

Of course, the investors did all the usual due diligence stuff – evaluating the P&L, balance sheet, contracts, client analysis, assets, and liabilities - to name a few - of the consultancy. However, on top of that, they wanted to gain a deeper understanding of the following four dimensions:

1. A special ‘reputation check’ (that’s why they reached out to me in the first place)
2. An assessment of the co-owners’ alignment on the growth strategy of the consultancy
3. An analysis of, what they called, the consultancy’s business infrastructure
4. An assessment of the firm’s performance against consulting-specific KPIs.

I derived some valuable insights from this project that I believe all consultancies should pay attention to – irrespective of whether they are looking to attract investors.

READ MORE

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Does the consulting team need to become more sales-driven?

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Most consultancies' market positioning sucks. That's what I said a while ago.

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7 Reasons why focus and project repetition in a consultancy pays off big time.

CONSULTING LEADERS

Swim lanes are there for a reason, yet consultancy co-owners frequently jump lanes.

MY SUNDAY SHOUTOUTS ON LINKEDIN

...to Matt Hodkinson and The Consultancy Growth Network for the annual UK Consultancy BenchPress survey results. In his newsletter, Matt discuss takeaways and trends for the consulting sector in 2023.

...to Josh Bernoff for this great article to identify real experts. Ask the right questions, he says, and presents ten questions to ask before hiring a purported expert.

HOW I CAN HELP

If you knew a way to become a high-performance boutique consultancy, would you adopt it?

Stupid question, I guess.

My High-Performance Consultancy Review provides a 360-degree evaluation of challenges such as:

- market positioning and target audience;

- visibility and reputation in the market;

- new client acquisition;

- existing client development and retention;

- pipeline predictability;

- expertise differentiation;

- business performance measurement;

- key player retention.

You'll receive a detailed report of your strengths, weaknesses, opportunities, and areas for improvement, along with actionable insights to help unlock your consultancy's full potential.

Don't settle for mediocrity. Book your High-Performance Consultancy Review today and take the first step towards a brighter future for your boutique consultancy.

PS. My ideal clients: founder-led boutique consultancies with revenue between 2M and +/- 20M and/or between 15 and +/- 100 consultants. 

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