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

EDITION #75

MAY 24, 2023

Dear reader, 

Here comes the 75th edition of my newsletter. 

In this edition, the articles focus on the importance of foundational elements in consultancy growth.

I see so many firms getting obsessed with short-term revenue instead of setting up strong frameworks for long-term revenue growth. Similarly, I've witnessed countless consultancies try to grow by hiring more staff and expanding the service offering. Again, this is not conducive to long-term success. 

I want my readers to use these pieces – the articles and the LinkedIn posts – to really internalize the importance of a holistic approach to business growth in the mid-sized consultancy. 

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

The Negative Impact of Obsessive Revenue Focus in Consulting

Revenue, revenue, revenue.

Every business review or workshop I conduct starts with an ideation board of some kind – it helps me understand the priorities, struggles, and goals of the consulting firm I’m working with.

And 90% of the time, the ideation board is covered with “revenue” written on sticky notes – “revenue growth”, “20% revenue increase”, “new revenue channels”, etc.

In these firms, every decision – no matter how small – is made through the revenue mindset. And I’m not going to sit on my high horse and claim that revenue is not important. Of course it is. Consulting is a business, at the end of the day.

However, I do believe that the single-minded obsession with revenue is not healthy either. In fact, it can be detrimental to the long-term success of a consultancy.

This is what I discuss in this article.

READ MORE

MY RECENT ARTICLES

STRATEGY

Why 'Hiring to Scale' Is a Losing Battle for Mid-sized Consultancies

BUSINESS GROWTH

How to Balance Hunting and Farming for Sustainable Consulting Growth

CONSULTING MINDSET

How a Consultancy Can Get Crushed by the Ego of Its Owners

CASE STUDY

How This Consultancy Cut Back 30% of Its Services Yet Improved Profitability

MY LINKEDIN POSTS

STRATEGY

We live in a world full of restlessness and indecision.

BUSINESS DEVELOPMENT

Consultancy owner: “We were so bad at consulting business development”.

CONSULTANCY MANAGEMENT

Dear consultancy owner, is your consultancy living invoice to invoice? Or project to project?

STRATEGY

Why do consulting firms keep piling up services like there's no tomorrow?

BUSINESS GROWTH

Why do mid-sized consultancy firms call me for help?

BUSINESS DEVELOPMENT

Consulting leaders keep telling me: closing new contracts takes more time.

AUDIENCE EDUCATION

95% of consultancy owners have nothing to say. Their Linkedin is ‘empty’.

MY SUNDAY SHOUTOUTS ON LINKEDIN

...to Adam Grant (again!) – this time, for his new list of ‘to be published’ summer books.

Adam his been my source of new book information ever since he started sharing these recommendations..

...to these LinkedIn statistics on people turnover in the PSF industry.

Professional services on #1 in the people turnover list :-(. 

HERE'S HOW I HELP CONSULTANCIES

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

Stupid question, I guess.

My High-Performing 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 quick wins and actionable insights to help unlock your consultancy's full potential.

Don't settle for mediocrity. Book your High-Performing 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 20 and +/- 100 consultants. 

BOOK A CALL →

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