Imagine if you were no longer threatened by consulting commoditization and the resulting loss of firm revenues. What if you could leverage technology in a way that would increase your profit margins and open doors of unlimited add-on consulting opportunities?
You are painfully aware that service-capability selling by a consulting organization no longer works. Clients are increasingly seeking productized consulting solutions to common business problems.
Now absorb this information: Gartner reports that the consulting organizations that will ultimately survive in the future will be those that create standard, repeatable consulting services.
What then, is the secret to building a thriving consulting practice in the face of commoditization?
1. Do This to Stand Out in a Commoditized Crowd
Al Ries, author of The 22 Immutable Laws of Branding observed that most professional service firms are worthy at generating prospects, but not at branding. The key is not what you do (the commodity) but the way you do it (your brand).
Just imagine what would happen if you productized your common business services and then competed on the merits of your brand.
2. Do This to Profit From Commoditization
You probably already know this, but productizing services with pre-defined project plans not only accelerates project completion but also increases firm profit margins.
Think of how many of your current services could be pre-defined and delivered as a solution package. What affect would that have on your profit margins?
3. Do This to Move Beyond Commoditization
Most experts agree that it costs 6-12 times more to acquire a new customer, than it is to expand your offering into existing customers.
Can you imagine the doors of add-on opportunities that will open to you as you successfully deliver a productized commodity service?
Now for the best news of all: productizing your services couldn't be easier. Software technology exists that allows firms to quickly productize services with project plans, resource plans, billable hours and even client collaboration.
But be sure to select a software partner that provides:
1. ASP software (the last thing you need is technology hassles)
2. Cross-platform software (you need a solution that fits in any environment)
3. Customization (you are the business expert, not them)
4. Commissions (you should be making money with their software)
Learn more about wining the commodity game; get your free copy of the guide 3 Steps to Build a $100M Consulting Firm? at http://www.attask.com/partner/consult-signup.html. Do This to Stand Out in a Commoditized Crowd
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What is the Secret to Building a $100M Consulting Practice?
By : cperryattask
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Keywords:
consulting services software profit